A chieftain of the All Progressives Congress (APC) in Enugu state, Prince Richard Ozobu, has appraised the undaunted efforts of the federal government led by President Bola Ahmed Tinubu in stirring Nigeria out of its current economic predicaments.
In a chat with The Authority Newspaper, Prince Ozobu attributed the present economic hardship in Nigeria to years of misgovernance and wrong economic policies by previous administrations, stating President Tinubu is doing a lot in restoring the economic fortunes of the country but it will take time.
His words, “When you have substantial damage in any structure,it will take time to fix. There are substantial progress made so far by President Tinubu led administration in restoring the economy and I am happy about it”.
“In a nutshell, President Tinubu should be allowed to continue in 2027. He has made tremendous progress in reviving the economy which he needs to consolidate’.
Reacting to the view that the total removal of fuel subsidy has worsened the state of the nation’s economy, Prince Ozobu holds a contrary view.
He said the absolute fuel subsidy has helped to know the actual amount of fuel consumption in Nigeria and curtailed smuggling.
‘Prior to the absolute removal of subsidy by President Tinubu, the nation imports a heavy quantity of petroleum products that eventually ends up enriching smugglers who sold them to neighbouring countries at the detriment of the federal government and Nigerians. But with the subsidy removal,it has been proved that Nigerians actually consumed about 30 percent of fuel imported in the country. So the government is saving a lot and saved the economy from intending collapse”.
“The actual consumption of fuel is what we are seeing now. There was no proper auditing. But now there is no subsidy,you pay the price at the global market”.
However,Prince Ozobu accepted that the hard effects of the fuel subsidy on average Nigerians can be cushioned in the downstream sector,to benefit the lower class.
Prince Ozobu advocated for reduction in the cost of social services, Education,Health services to the very poor and equally special monthly stipends to very poor Nigerians from the gains of total fuel subsidy removal.
His words, “In the structure,we must find a way of getting the benefits of the subsidy removal to the grassroots. There can be upto eighty percent reduction in Education to the very poor Nigerians.Likewise in Transport services,healthcare etc.
“The rail lines should be working especially in the South East zone of the country. There should be mass transportation on National basis. Special tickets and programmes are packaged for the very poor.
He stated that efining the lower class of Nigerians is traceable through accurate documentation,stating that such services are obtained in civilised countries.
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