President Bola Ahmed Tinubu is under fire for announcing that petrol subsidy is gone from day one. His inauguration address also touched on a unified currency exchange, high interest rate and power, among others. Of all these, however, the one that got the headlines was petrol subsidy and the most frequently expressed concern, is why now?
President Bola Ahmed Tinubu is under fire for announcing that petrol subsidy is gone from day one. His inauguration address also touched on a unified currency exchange, high interest rate and power, among others.
It was the sort of executive indulgence that President Obasanjo also saw in Nigeria when he assumed office in 1999 and his response then, like Netanyahu’s on that day, was to scrap the nonsense immediately. But cabinet menu reform was the least problem on his plate. The real challenge was how to free the country from a semi-socialist nanny economy, state control, exposure to future global vulnerabilities, the dominance of monopolies, and union fat cats.
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