Subsidy Removal, Naira Floating Brought Nigeria To Its Knees — Ologbondiyan

Posted by Thandiubani on Mon 25th Nov, 2024 - tori.ng

Ologbondiyan said Tinubu would have embarked on phased removal of petrol subsidy, and then provide palliatives such as reducing fare on public transportation rather than subsidised rice for the masses.

Former Spokesperson for the Peoples Democratic Party, PDP, Kola Ologbondiyan has slammed President Bola Tinubu over fuel subsidy removal and floating of the Naira.

He said Tinubu's hasty decision brought Nigeria to its knees

Olodiyan, who stated this on Channels Television’s The Morning Brief on Monday, said Tinubu would have embarked on phased removal of petrol subsidy, and then provide palliatives such as reducing fare on public transportation rather than subsidised rice for the masses.

His comment is coming after the meeting of the PDP governors over the weekend, where they called on President Tinubu to reform the economy.

“Basically, I as Kola Ologbodiyan, subscribe to the ideas as laid down by the original founders of the party.

“For instance, let’s take the issue of the removal of subsidy, because what has brought Nigeria to its knees has been these two major decisions made by President Bola Tinubu, particularly on the subsidy and removal of the naira.

“But under the PDP leadership in the time past- I am aware that what we had was a phased subsidy removal, which also came with palliatives. The APC has said Nigerians should go and buy rice at N40,000 per bag. But the needs of Nigerians go beyond rice. So, I believe the policies could also be better if we have a public transport system where you and I won’t have to drive our vehicles at a subsidised rate.

“But the unfortunate thing as we are witnessing today is that we are paying lip service, even as PDP to engaging the sitting government on its reforms, to put forward alternatives,” he said.

Recall that the removal of petrol subsidy has seen prices of Premium Motor Spirit rise from an average of N189 per litre shortly after President Tinubu took over office in May 2023, to above N1000 per litre recently.