Lead Director at Centre for Social Justice and Fiscal Governance Specialist, Eze Onyekpere, has, during an interview on Channels Television, faulted President Bola Ahmed Tinubu’s approach to removing fuel subsidy and floating of exchange rate; as he noted that the President was reckless in taking those decisions.
He maintained that the President should have thought about the implications of his actions before he took them.
Onyekpere had said,
“Even if you open up your reserves, how hungry Nigerians are today, in the next one month, that reserve will be empty. Mr. President was reckless in introducing these two policies without sitting down on a table with some experts and doing the necessary protections.
If you remove the fuel subsidy, what happens thereafter, you add about over N400 to the price of fuel, what happens to inflation, what happens to the salaries and wages of workers, what happens to the cost of living? And when you are able to do your simulations and projections to say this is likely to be the reaction, and then you say what are we going to do to mitigate this risk and these challenges that will face the whole Nation, you now design mitigation strategies and efforts…”
According to a video on Channels Television’s YouTube channel — https://youtu.be/fgYkAAkCnPQ?si=RJT9LDMBkL3FQwbZ
Forward video to 15:37