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Tinubu’s Abrupt Subsidy Removal Caused Hardship – Sagay - Politics - Nairaland

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Tinubu’s Abrupt Subsidy Removal Caused Hardship – Sagay by amoreobansu: 11:51pm On Feb 09
A Senior Advocate of Nigeria, Professor Itse Sagay, has criticized the recent removal of petrol subsidies by President Bola Tinubu, calling it a hasty decision that has caused untold hardship for citizens.

In an interview on Channels TV, Sagay argued that the government should have waited for the commencement of domestic oil production before taking this step.

The renowned legal scholar and Chairman of the Presidential Advisory Committee Against Corruption (PACAC), pointed to the Dangote refinery and the Port Harcourt refinery as examples of projects that could have eased the transition away from subsidies.

He said, “Petrol is critical to our lives. The cost of living is going up, and basic living is now expensive. I think we might have gone on for another six months and as internal production was coming up, then the subsidy can be removed.

“The immediacy and the sudden manner of the decision to remove petrol subsidy has created an immediate level of hardship which is almost becoming unbearable.

“I am not in full agreement with the way and order some of the things are being done now. On the issue of petrol, I would have been happier if the government had been patient to allow internal production to commence before removing the subsidy.

“Now, Dangote is now producing. And of course, the refinery in Port Harcourt is almost ready. Perhaps, if we had waited a little longer, the transition will not have been harsh. We are in it already but I think we are in competent hands and we will get out of it.

“We’ve been on this subsidy for decades and a few more months would not have killed us. You can see the difference in lifestyle now.”

Sagay also said there must be a stop to the “deterioration of the value of the naira”.

He said, “I never dreamt that there would be a time when the dollar would change for over N1,000 to a dollar. It has to stop, otherwise, it will destroy everything that the government is trying to do.”

He however expressed confidence in the new government and its ability to provide quality leadership for the Nigerian people.


https://dailytrust.com/tinubus-abrupt-subsidy-removal-caused-hardship-sagay/

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Re: Tinubu’s Abrupt Subsidy Removal Caused Hardship – Sagay by ggood: 11:52pm On Feb 09
The certificate forget has no clue about government. In develop country such a failure druggie can never smell the office of president.

Before December I see rice selling for 100k per bag and dollar above 2000

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Re: Tinubu’s Abrupt Subsidy Removal Caused Hardship – Sagay by courage89(m): 11:54pm On Feb 09
How? When some people are getting ready to hoard these foods for the next 3 generations.

What happened to the recent subsidy interventions? What impact are they having on the economy?

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Re: Tinubu’s Abrupt Subsidy Removal Caused Hardship – Sagay by 10mobile: 11:58pm On Feb 09
FOOD is still an issue here. Shame!

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Re: Tinubu’s Abrupt Subsidy Removal Caused Hardship – Sagay by sirchim(m): 12:04am On Feb 10
10mobile:
FOOD is still an issue here. Shame!
Re: Tinubu’s Abrupt Subsidy Removal Caused Hardship – Sagay by buharibanjo(m): 12:05am On Feb 10
Food, issue
LIGHT, issues
Security, issueses
Living, issueseses
giANT of Africa 🙌🏾

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Re: Tinubu’s Abrupt Subsidy Removal Caused Hardship – Sagay by sirchim(m): 12:05am On Feb 10
Kariya ne! Kanaji Magana banza! Useless talk.

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Re: Tinubu’s Abrupt Subsidy Removal Caused Hardship – Sagay by okosodo: 12:19am On Feb 10
This cow has found his voice

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Re: Tinubu’s Abrupt Subsidy Removal Caused Hardship – Sagay by malali: 12:20am On Feb 10
[b]The Past Nigerian administration lack revenue generating ideas, they have been running the pocket money economy system. Instead of taking revenue generated from the oil boom since late 70's till date. They have just looted the money and used the rest to subsidize lifestyle of Nigerians (fuel subsidy). Now they can barely afford the subsidy and also pay salaries, pension and also politicians. So they are transferring the subsidy to the common man, this will free up cash for them to loot, and run the government. Eventually even without paying subsidy there still wont be enough cash to run the government (We are already in this stage, thats why they keep borrowing money up and down, which devalues our currency). See some countries that have also used the same oil to prosper their nation as a whole.

Norway: Norway has built a sovereign wealth fund, known as the Government Pension Fund Global, which invests proceeds from oil and gas production. The fund is one of the largest in the world and has investments in various sectors globally, providing a stable source of income for the country.

United Arab Emirates (UAE): The UAE, particularly Dubai and Abu Dhabi, has diversified its economy beyond oil by investing heavily in sectors such as tourism, real estate, finance, and technology. Dubai, in particular, has become a global hub for trade, finance, and tourism.

Qatar: Qatar has leveraged its natural gas reserves to become one of the world's leading exporters of liquefied natural gas (LNG). Additionally, Qatar has invested in various sectors, including finance, real estate, and sports, to diversify its economy.

Singapore: Although Singapore does not produce oil itself, it has established itself as a major trading and refining hub for oil and petroleum products in the Asia-Pacific region. Singapore has also diversified its economy into sectors such as finance, shipping, biotechnology, and tourism.

Malaysia: Malaysia has developed a diverse economy, with thriving manufacturing, services, and tourism sectors alongside its oil and gas industry. The country has also invested in infrastructure projects and technology to support economic growth.

Netherlands: The Netherlands, home to one of Europe's largest natural gas reserves, has invested oil and gas revenues into developing a highly advanced economy with strong industries in agriculture, manufacturing, trade, and services.

These countries serve as examples of how strategic planning, prudent investment, and diversification efforts can help mitigate the economic risks associated with dependence on oil revenues. By investing in other sectors and fostering innovation, these nations have been able to thrive beyond their oil wealth.[/b]

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Re: Tinubu’s Abrupt Subsidy Removal Caused Hardship – Sagay by festacman(m): 12:39am On Feb 10
Removing petrol subsidy suddenly on the day of his inauguration without planning for the consequences of such massive policy change?

Floating Naira without adequate plan to contain the effects of such tricky policy change especially given our criminally poor forex earning capacity?

Being couple of months away from one year in office but still hasn't have a clear comprehensive plan to revive the economy?

Is the once flaunted Renewed Hope Manifesto an empty beautiful document?

Ebi npa wa!

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Re: Tinubu’s Abrupt Subsidy Removal Caused Hardship – Sagay by budaatum: 12:48am On Feb 10
I doubt Tinubu had a choice in the matter when to remove subsidy. I can't see anyone investing ₦10b+ building a refinery without first making sure they can sell at market price, which is higher than subsidised price. Investors aren't usually that stupid with their money.

Hardship? I wonder what he'd say when other subsidies are removed, like the subsidy to employers of labour that distorts wages called Youth Corp!

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Re: Tinubu’s Abrupt Subsidy Removal Caused Hardship – Sagay by Racoon(m): 1:40am On Feb 10
The balabloo-blu-bulava druggie and certificate forger used every corrupt means know to humanity to get to the presidency. He once said nah statistics we go chop. Guess he now unders better that the economy runs on that?

Being itchy and twitchy while being moved by white heroin is not sagacity. Meanwhile, who has noticed that his regular zombies here have long gone deaf and dumb. Shege promax has dazed them.

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Re: Tinubu’s Abrupt Subsidy Removal Caused Hardship – Sagay by Smithkafors(m): 2:14am On Feb 10
ggood:
Lies from the pit of hell

How is a lie?…. Was dollar and food price’s this high before that?.

Keep voting rubbish!!!.

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Re: Tinubu’s Abrupt Subsidy Removal Caused Hardship – Sagay by matify83: 2:33am On Feb 10
After deriding the decisions of Asiwaju in removing petroleum subsidy hastily which has come with the attendant worsening of living conditions, the summary of discuss is that with the caliber of people running the economy, we will be out of the woods soon.

I also share in his optimism. What we are going through can be described as "birth pangs" which in due course will deliver lasting dividends if we do not abort the trajectory or stifle it to cause a stillbirth.

Debriding a putrid system must come with some pain even with anesthesia which will wear off at some point.

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Re: Tinubu’s Abrupt Subsidy Removal Caused Hardship – Sagay by rayvelez(m): 3:16am On Feb 10
We are all hungry

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Re: Tinubu’s Abrupt Subsidy Removal Caused Hardship – Sagay by TrackerSK: 4:13am On Feb 10
Talking from both sides of the mouth people from that side That is one of their major traits

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Re: Tinubu’s Abrupt Subsidy Removal Caused Hardship – Sagay by engrfaruq(m): 4:14am On Feb 10
They promised to build heaven on earth with the saved money from subsidy removal, but they ended up building hell on earth for Nigerians.

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Re: Tinubu’s Abrupt Subsidy Removal Caused Hardship – Sagay by Savedday2: 4:15am On Feb 10
Sometimes, our leaders act so irresponsible. Why remove subsidy without plans?

Why float naira without plans? Or is it that they don't know that this two things drive our economy and to a very large extent our society?

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Re: Tinubu’s Abrupt Subsidy Removal Caused Hardship – Sagay by Alexis11: 4:16am On Feb 10
Abrupt removal is the best way to remove it. Making so much noise about it before removal will only make it worse.

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Re: Tinubu’s Abrupt Subsidy Removal Caused Hardship – Sagay by Honestey: 4:17am On Feb 10
Subsidy that was unofficially officially removed during inauguration speech is making Tinubu government the worst ever! And like it or not it's the reason crime rate has increased across every parts of the country. At this rate, 2027 can come soon enough for Nigerians.

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Re: Tinubu’s Abrupt Subsidy Removal Caused Hardship – Sagay by CoronaVirusPro: 4:19am On Feb 10
Fvck Sagay!
Re: Tinubu’s Abrupt Subsidy Removal Caused Hardship – Sagay by RingRoadCartel: 4:23am On Feb 10
Where is FreeStuffsNG? I noticed the toad has been silent lately. Hunger don reset him brain?

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Re: Tinubu’s Abrupt Subsidy Removal Caused Hardship – Sagay by seeker121(m): 4:26am On Feb 10
You guys have been brainwashed to believe that citizens must bear the brunts of this their harsh economic decision. I prayed we will all live long but I can bet it with you that with the caliber of pple who runs this clime,we won't reap the benefits of all this pains.One greedy mofo will siphon huge chunks of this subsidy money with one white elephant projects. They aren't even ready to reduce the cost of governance to show their commitment in this economic building journey.In summary I don't trust Nigerian politicians because they have proven to us oftentimes that they are after our commonwealth not the betterment of our lives.

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Re: Tinubu’s Abrupt Subsidy Removal Caused Hardship – Sagay by Robertgreene1(m): 4:31am On Feb 10
Interesting....so na this man my niggas dey call me back then in Unizik Law School...when l used to cram his "Law of Contracts" book from page 1 to the last page...then recite and sing the whole book like a song before exams.... That was before the good intelligent boy went bad Sha... grin
Now to the matter on ground...l agree with my namesake...but you people should please stop breeding like Rabbits...and see half of this country's problems solved....una too dey born born abeg...l use God beg una.... Family planning is free....
Egypt the second most populous country in Africa is just around 110 million people (Arab country oo)
Ethiopia in Third position is around 102 million people
DR Congo( that is almost three times the size of naija) in fourth place no even reach 100 million people sef...upon all the frustrations and hardships in that hell of a country...
But una dey chase 400 million people... that's if una never pass am sef...and you will be claiming that you're fvcking away the frustrations wey full this country...Go DR Congo...or Burundi or Malawi...or Chad or Mali or Sudan or Somalia...most of these places where to even see clean water drink na problem sef...and see real frustrations and suffering...yet none of those countries near 100 million people...
Please nobody should come and use China and U.S population for nonsense arguments here....the US at 400 million people is as big and blessed as a whole continent on its own... infact the US is like 50 countries United as one...that's why they are so rich and powerful
China is also as big and blessed in resources as a whole continent...
Plus visionary leaders too....yes our useless govt have half of the blame...But we Nigerians that Overbreed like rabbits have the other half of the blame as well
.... very simple and short!!!

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Re: Tinubu’s Abrupt Subsidy Removal Caused Hardship – Sagay by SalamRushdie: 4:38am On Feb 10
Exactly.. idiots hailed him for that but I warned against it ..if Tinubu had waited just six months to have his CBN gov and cabinet in place before making that announcement, the outcome would be a lot different

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Re: Tinubu’s Abrupt Subsidy Removal Caused Hardship – Sagay by whippersnapper(m): 4:39am On Feb 10
minimum wage is 30k Inhaler is 10k even to breathe is expensive

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Re: Tinubu’s Abrupt Subsidy Removal Caused Hardship – Sagay by bewla(m): 4:49am On Feb 10
No

Greedy and wicked rich alcapons,that me and you call cabal, plus transporter are the major influence to the hard ship in Nigeria
Re: Tinubu’s Abrupt Subsidy Removal Caused Hardship – Sagay by bewla(m): 4:56am On Feb 10
whippersnapper:
minimum wage is 30k
Inhaler is 10k
even to breathe is expensive
but energy drink is 250
Re: Tinubu’s Abrupt Subsidy Removal Caused Hardship – Sagay by Customised3(f): 4:57am On Feb 10
Nothing like ruling us, they're doing business

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Re: Tinubu’s Abrupt Subsidy Removal Caused Hardship – Sagay by Nahunger(m): 5:02am On Feb 10
grin
Just DM him to renew your Agbado 😊

4 Likes 2 Shares

Re: Tinubu’s Abrupt Subsidy Removal Caused Hardship – Sagay by MichaelSokoto(m): 5:02am On Feb 10
Simple & short!

ronu ooo!

cry

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Re: Tinubu’s Abrupt Subsidy Removal Caused Hardship – Sagay by Brendaniel: 5:03am On Feb 10
bewla:
No

Greedy and wicked rich alcapons,that me and you call cabal, plus transporter are the major influence to the hard ship in Nigeria

Are you saying that these people are bigger and more powerful than Tinubu ? You guys and nonsense excuses, cabals you people did not remember during GEJ's time

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