Opinion by simonkolawole: ‘This new government will favour me’ via thecableng
Albion FC in the Premier League with a friend. I told her that “we will be playing in the UEFA Champions League in 2024 by God’s grace”. My friend, a staunch Obidient, replied: “This reminds me of a running joke on Twitter.” What is it? “So, when Tinubu was inaugurated, this person came online and wrote: ‘This new government will favour me and my family in Jesus’ name.’ Now, whenever anything happens, people go to that tweet and quote it.” I laughed. I don’t know how I missed that.
In most other countries, including many oil-rich nations, citizens are used to waking up one day to discover that pump prices have changed. By the following week, prices can change again. As crude prices rise, pump prices rise. As crude prices drop, pump prices drop. This is because crude prices determine product prices. Additionally, their governments charge VAT and fuel duty on every litre. It is no news to them when pump prices rise or drop. It is something they are used to.
While I am enjoying the brickbats between pro- and anti-Tinubu forces on social media, the counterfactual of the situation is: would Alhaji Atiku Abubakar or Peter Obi have retained petrol price at N185/litre and maintained multiple exchange rates? Were either to win the election petition and be inaugurated as president, should we expect petrol to return to N185/litre and “official” FX rate back at N420/$? I am yet to hear from Atiku on this, but Obi has said, concerning petrol subsidy, that he...
Or shall I liken the Nigerian economy unto a man diagnosed with borderline hypertension and advised to make necessary adjustments? The man says he cannot eat meals that are not rich in salt and he cannot imagine himself snubbing a chilled bottle of beer. He eventually gets diagnosed with hypertension and is advised by his doctor to take his anti-hypertensive medication daily but he chooses to do as his spirit directs, sometimes skipping weeks.
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