The removal of the fuel subsidy

Fuel Subsidy Removal: Buhari Hands Tinubu Banana Peels- Kachikwu

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The removal of the fuel subsidy has become a contentious issue in Nigeria, and according to Dumebi Kachikwu, the presidential candidate of the Action Democratic Congress (ADC) in the 2023 elections, former President Muhammadu Buhari has left a challenging situation for his successor, President Bola Tinubu. In an interview on Channels Television’s Politics Today, Kachikwu expressed his belief that Buhari deliberately avoided taking responsibility for the fuel subsidy removal and passed the burden onto Tinubu’s administration.

Kachikwu highlighted that Buhari had failed to make provisions for the subsidy beyond June, when he left office. This, in turn, created a difficult situation for Tinubu, who now has to grapple with the issue. Kachikwu suggested that Buhari had knowingly handed a metaphorical “banana peel” to Tinubu, leaving him to deal with the repercussions.

The financial implications of the fuel subsidy are significant. The Nigerian economy is already in a dire state, lacking sufficient funding, and the Nigerian National Petroleum Corporation (NNPC) is struggling to sustain itself. Continuing to provide subsidies would further burden the NNPC, which is already saddled with a debt of over two trillion naira. Tinubu recently addressed the nation, revealing the precarious situation he inherited.

The removal of the fuel subsidy has far-reaching consequences for the Nigerian government and its citizens. It is an issue that demands immediate attention and careful consideration. As President, Tinubu faces the daunting task of finding a solution to this complex problem, while simultaneously stabilizing the economy and ensuring the viability of the NNPC.

In conclusion, Dumebi Kachikwu, the ADC presidential candidate, has accused former President Buhari of passing on the challenging responsibility of fuel subsidy removal to President Tinubu. The Nigerian economy is already in a fragile state, with insufficient funding and a heavily indebted NNPC. The removal of the subsidy presents a significant challenge to Tinubu’s administration, and urgent action is required to address the issue effectively.

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