Temitope Ajayi, Senior Special Assistant to the President on Media and Publicity, has stated that the fuel subsidy removal by the Bola Tinubu-led administration is designed to save Nigeria from its current fiscal cliff.
Ajayi was reacting to the editorial commentaries by three national newspapers criticising the policy.
He said the arguments pushed forward by the three newspapers are inconsistent, alleging that they harangued the Buhari administration for not removing fuel subsidy in the past.
”I have read editorial commentaries by three major newspapers this morning, all on the same subject of inflation triggered by the fuel subsidy removal and foreign exchange policies of President Tinubu’s administration.
”These policies, tough as they are, have been designed to save the country from its current fiscal cliff. The choice between taking the decisions now and kicking the can down the road is either we bear a momentary inconvenience or the country goes under.
”To continue with the regime of fuel subsidy is to subject arguably over 200 million Nigerians to an uncertain and debilitating future a la Venezuela and Sri Lanka. President Tinubu made the right call by removing the fuel subsidy and the corruption-ridden forex policy.
”I find the arguments pushed forward by the three newspapers to be inconsistent, considering the fact that these papers, in the not-too-distant past, harangued the Buhari administration for not removing fuel subsidy and for maintaining a command and control forex policy.”
He added that although the current economic situation has further pressured vulnerable Nigerians, he noted that the long-term benefits of the policy would favour Nigerians.
”What is not in doubt is the determination of President Bola Tinubu to take us through this difficult moment.
”This is obvious from a series of collaborative efforts and policies to mitigate the impact of this hardship in the short to medium term, from reviewing the national social register to interventions directed at food security, tax relief to businesses, and funds that will be committed to infrastructure. This moment will not be wasted.
”It will be used as a springboard to usher in a better and more prosperous Nigeria where citizens will find personal joy and fulfilment. That remains the focus of the President Tinubu administration,” he stated.