…By Dorcas Funmi for TDPel Media. Adewole Adebayo, the Social Democratic Party’s (SDP) presidential candidate in the 2023 elections, has strongly criticized President Bola Tinubu for his recent announcement regarding the removal of fuel subsidy.
Adebayo expressed his disapproval of Tinubu’s decision and the timing of the announcement.
Tinubu’s Declaration on Fuel Subsidy Removal
During his inaugural speech at the Eagle Square in Abuja, President Tinubu declared that his administration would cease paying subsidies on petroleum products.
He justified this decision by citing the high opportunity cost incurred by the federal government and deemed the continuation of subsidies unjustifiable.
Tinubu emphasized that the absence of subsidy provisions in the budget from June 2023 meant its removal.
Adebayo’s Response and Concerns
In a statement shared on his Twitter handle the following day, Adebayo criticized the manner and timing of Tinubu’s announcement.
He argued that the occasion of an inaugural speech was not the appropriate platform to disclose such a significant macroeconomic policy change.
Adebayo stressed the need for alternative measures or “shock absorbers” to mitigate the impact of fuel subsidy removal before implementing such a decision.
A Call for Preparatory Measures
Adebayo emphasized that Nigerian citizens would require measures in place to alleviate the repercussions of fuel subsidy removal.
He suggested the implementation of mechanisms to cushion the effects before taking any action in that direction.
Adebayo questioned whether such preparatory steps could be taken to instill renewed hope and ensure a smoother transition for the Nigerian populace.
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