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Tinubu’s CoS assures Nigerians on benefits of subsidy removal, as critic says it’d never worked anywhere

Tinubu’s CoS assures Nigerians on benefits of subsidy removal, as critic says it’d never worked anywhere

The Chief of Staff to Nigeria’s President Tinubu, Femi Gbajabiamila, has assured Nigerians that benefits of fuel subsidy removal would be reaped soon.

The News Agency of Nigeria reported Gbajabiamila to have given the assurance after casting his vote at Poling Unit 014, Ward 08 at Elizabeth Fowler Memorial School, Surulere, Lagos state, in the House of Representatives by-election in the constituency on Saturday.

The Chief of Staff in his reaction to the current economic situation being faced by Nigerians, said the President and his administration remained concerned about the plight of the people.

He, however, noted that it was a universal issue and must be handled with all caution.

According to him, the challenges we are facing are because some fundamentals were missing in the first place.

“It is those economic fundamentals that this administration is trying to put in place, including fuel subsidy removal which was a national concession that it must be removed.

“I assure you that the benefits of subsidy removal will be reaped soon. It’s not immediate but the President knows what he is doing, and at the end of the day, everything will work out fine.”

On Insecurity, the chief of staff said “This administration needs full cooperation of the people and in so doing, we will all defeat these kidnappers and terrorists. Therefore, we need to come together for the better and by so doing, make Nigeria a great nation that we will all be proud of.”

It had never worked anywhere

Farooq Kperogi. Femi Gbajabiamila, Tinubu’s CoS, Nigerians, Subsidy removal, Benefits
Professor Kperogi

Earlier on Saturday, Professor Farooq Kperogi, had written that Nigerian leaders had over time promised the same thing, and it had never materialized.

He also said the sort of economic agenda the Nigerian government is pursuing are foreign and had equally failed in other countries.

According to him “IBB started the so-called structural adjustment programs (removal of subsidies, devaluation of the naira, mass retrenchment, etc.), which inaugurated Nigeria’s descent into the abyss.

“I heard the exact same things the current government is spouting during IBB’s time: that it would get worse before it got better, that after the birth pangs a big bouncing baby would be born, that there was delayed gratification awaiting us if only we could be a little more patient.

None of the promises materialized. Instead, suffering was elevated to crushing heights. Advanced fee fraud (also called 419) blossomed. Corruption was fertilized. Brain drain to the West got wings. This period also unleashed the naira’s irrecoverable slide into the deep hole of worthlessness.

Decades after, the same SAP about which hundreds of books and articles have been written and whose irreversible damage we continually lament, has been artfully repackaged, disguised, deodorized, and huckstered by a well-oiled gang of soulless apes who deployed all manner of clever rhetorical trickery to coax Nigerians into consenting to their own self-incineration.

“The truth is that we have no original, independent thinkers among people who make or influence economic policies in Nigeria. They are all hopelessly mindless parrots of ill-comprehended economic prescriptions of the Bretton Woods institutions. They do not have the cognitive and intellectual sophistication to transcend what I call derivative or regurgitative knowledge.

There is not a single example of a country in the world that has developed on the basis of the prescriptions of the World Bank and the IMF. On the contrary, the only countries that have achieved inclusive growth and development outside the West are precisely the countries that have bucked the World Bank and the IMF. And every country that uncritically adopts the recommendations of these institutions has been wracked by utter devastation.

 

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