Mr. Dumebi Kachikwu, the Presidential Candidate of the African Democratic Congress (ADC) in the 2023 election, announced that if he is elected as Nigeria’s President in 2027, he intends to revise certain policies implemented by the Tinubu administration, including reversing the removal of fuel subsidies.
In an interview with Vanguard, Kachikwu mentioned that subsidies are not inherently bad policies. He emphasized that impoverished Nigerians should not have to bear the burden of inefficiencies or mismanagement within a subsidy system.
He believes that only a small number of Nigerians have misused the subsidy scheme. He emphasizes that instead of ending the program, efforts should focus on pursuing those involved in corruption, prosecuting them to the fullest extent of the law, and restoring order to the system.
That’s what we should have done. However, when I mention this, I want to contrast it with the situation President Tinubu encountered upon taking office.
“He didn’t eliminate the fuel subsidy. We should be cautious when stating that the President ended fuel subsidies on inauguration day.”
He contended that the previous administration, under the late President Muhammadu Buhari, had eliminated the fuel subsidy. He pointed out that Buhari’s government hadn’t allocated funds for it in the budget. When President Tinubu assumed office and noticed there was no provision for a fuel subsidy, he simply announced this fact.
Many people, whether accurately or not, believe he was responsible for removing subsidies. However, it wasn’t President Buhari who implemented the subsidy.
