Nigeria and Consequences of Subsidy Removal
The removal of fuel subsidy by President Bola Ahmed Tinubu has had far-ranging consequences, amplifying the existing economic hardships faced by millions of Nigerians. A large proportion of Nigerians find themselves living below the poverty line, struggling to make ends meet.
The removal of subsidy has directly contributed to the spiraling inflation, which has hit the prices of foodstuff, transportation, and essential services the hardest. This has created a burden on the average Nigerian, as their meager income is further stretched, making it increasingly difficult to afford necessities.
As I write this article, the bus fare from Maiduguri to Abuja has been upped from N7,500 to N10, 500 as reflected on a circular released by Borno Express Corporation on June 1st, 2023. Kaduna to Maiduguri, which used to be N6000 is now N9000. In the event where vehicles are scarce at the motor parks, travelers pay as much as N12,000 from Maiduguri to Kano. Formerly, it was N6,500. This is unbearable and unacceptable!
The economic downturn occasioned by subsidy removal has disproportionately affected the most vulnerable segments of society as many Nigerians are now living below the breadline, struggling to feed their families.
Nobody is spared from the unbearable consequences of the removal of fuel subsidies. Not even the bourgeois in the country. They, too, hide and cry. Civil servants, especially those working in state and local governments are among the primary victims of the removal of fuel subsidies as many of them can’t feed their families. A 100% increase in their salaries is a necessary step to restore their purchasing power and improve their quality of life. Adequate compensation would motivate civil servants to perform at their best, leading to a more productive and effective public sector. Now, what about the unemployed and jobless population in the country? How would their well-being be improved? Who would provide for them? A larger portion of Nigeria’s population is suffering in silence as a result of the monstrous inflation rate occasioned by the removal of the fuel subsidy. Therefore, President Tinubu must acknowledge the grave consequences of the current economic situation and the suffering being experienced by Nigerians. As the leader of the nation, he has the power to reverse the economic downturn and alleviate the suffering of Nigerians. It is imperative that the President takes into account the plight of the citizens and work towards restoring their faith in the government.
Lawan Bukar Maigana, Yobe State
