As Nigeria teeters on the brink of economic collapse, the recent fuel subsidy removal has sounded the death knell for millions of citizens. This policy has unleashed a maelstrom of hardships, pushing the most vulnerable to the precipice of despair.
The touted benefits of subsidy removal—increased revenue and economic growth—remain a mirage, while the devastating consequences are all too real. The overnight price hike has crushed small businesses and entrepreneurs, devastated low-income households, crippled transportation and food distribution, spurred inflation and economic stagnation.
The previous administration’s claims of “economic reform” ring hollow as Nigerians suffer. Where is the safety net for the poor? Where are the jobs and opportunities promised?
The government’s fixation on IMF-driven policies has blinded them to the human cost. Nigeria’s economy is not a laboratory for theoretical experiments; it’s the lifeline of 200 million people.
The masses demand: the immediate reversal of fuel subsidy removal, transparent accountability regarding recovered funds; investment in renewable energy and domestic refining of petrol; and social protection programmes for vulnerable citizens
The clock is ticking. Nigerians’ patience is wearing thin. It is hoped that the government will act on time on this issue and provide solutions.
Animashaun Taofeekat, [email protected]
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