₦airaland Forum

dre11:
https://dailytrust.com/buhari-retained-petrol-subsidy-so-nigerians-wont-die-ex-minister/

How convinient to say this now that he's dead. So to retian subsidy, you bankrupted the nation!?

Its one thing to retain subsidty if we can afford, its another thing to print money of N22trln and take loans with Nigeria's future oil production.

That is the main cause of the inflation we have today. His poor management of FX from 2016 is what caused portfolio investors to flee and thats what caused a run on the currency from 360 to 750 or so.

Buhari is the main reason for the problem we have today and I salute Tinubu for having the balls to do the right thing economically, despite the obvious pains.

Most of the masses will clearly not agree, because they are thinking with their stomachs, not their heads, but Tinubu has done the right things in removing subsidy and liberalising the FX market. At least the exchange rate has stabilised and is slowly recovering. At its worst it was 1900 in the parallel market, but now down to 1550.

And the Tax Act and incentives for oil and gas production will have an impact in the next 3-5 years.

Mind you I am not in support of APC or PDP. All politicians as we have the today are useless, but between Buhari and Tinubu o, give me Tinubu anyday!!!

Jeezuzpick:
Of course I know they're still stealing in the name of subsidy. That's been going on since Buhari's time.

So why did you ask 'did we die' after subsidy removal knowing FULLY WELL that the "Subsidy" was never removed to begin with?

SeeWahala:
So why did you ask 'did we die' after subsidy removal knowing FULLY WELL that the "Subsidy" was never removed to begin with?

Ehn, it's all part of the "abracadabra" of APC naa.

DId Tinubu not say "subsidy is gone"?

You suppose don collect Prof. By now with all this grammers.

9jatriot:
Yet in spite of all that, the amount of insults the man got was just too much.

The reality for President Buhari was that despite incurring massive debts to fund the fuel subsidy, he remained a constant target of public insults and accusations of economic failure.

This predicament suggests a strategic calculation by President Tinubu: since a leader is likely to face continuous criticism regardless of the subsidy's status, it is more pragmatic to endure the immediate backlash of its removal and, in turn, reap the significant fiscal benefits of reduced borrowing and currency stability.

This approach, while initially painful, aims to avoid the double bind of accumulating astronomical debt while still being perpetually insulted. It was a case of "damned if you do, damned if you don't" dilemma that Nigerian leaders face with the fuel subsidy. It's about weighing the immediate political cost against the long-term economic consequences.

Buhari was moved by passion, Tinubu is an accountant and knows how to deal with numbers more.

SmartPolician:
That was one of Buhari's best legacies

When E-Bola came on board, he shouted, Subsidy is gone.

Yet, he had no idea how to manage the aftermath of subsidy removal.

..best legacy of selling crude in advance to pay fuel subsidy? It is rather one of his mistakes. He could not summon enough courage to do the needful.
Buhari did his best for Nigeria but economy had no direction under him.

Jeezuzpick:
Ehn, it's all part of the "abracadabra" of APC naa.

DId Tinubu not say "subsidy is gone"?

You're mouthed baba