Former Gov. Backs Tinubu’s Policies, Admits Public Outcry
Former Bauchi State Governor Isa Yuguda stated has said President Bola Tinubu should not be held responsible for Nigerians’ current poverty and rising inflation.
Yuguda stated this on Tuesday, while speaking at the maiden edition of the Asiwaju Scorecard Series sponsored by the All Progressives Congress Professionals Forum in Abuja. He emphasised that the economy was in terrible trouble before he took office.
Despite a significant improvement in the naira’s exchange rate against the dollar in recent months, their has been a general public outcry due to the incessant rising food prices and inflation.
However, the former governor argued that the current administration should not be held exclusively accountable for the economic turmoil.
He voiced fear that if Tinubu had not implemented radical measures and reforms like as eliminating fuel subsidies and floating the naira, Nigeria would be in serious trouble.
According to him, the president inherited several burdens that were made possible by factors such as the subsidy scam, widespread corruption in the civil service, and the impact of the COVID-19 lockdown, during which the country allegedly paid billions of naira to subsidise domestic fuel consumption, which was at an all-time low.
He said, “The President did not create any of the problems people are talking about whether in the economy or in the other sectors. In fact, what he met on ground would have created a worse situation if not properly handled but he is championing reforms that are required to pave way for a better society.
“We all recall how on assuming office, President Tinubu announced the removal of fuel subsidy but again for the avoidance of doubt, he did not remove subsidy on PMS. It was not in the later part of the 2023 budget but surprisingly the Tinubu administration has had to bear the brunt of subsidy removal.
“Let me quickly add that my opposition to fuel subsidy has been well documented since the Goodluck Jonathan years when as chairman of a subcommittee on the economic meltdown, we recommended its removal after a discovery of the scam being perpetrated in the name of fuel subsidy.
“A recent study also showed that despite the COVID-19 lockdown of 2020, Nigeria still paid billions of naira for fuel subsidy even though in reality, domestic fuel consumption was very low.
“Indeed, the President has today been proved right with the manner petrol importation has gone down by 50 per cent since June 2023 and it is almost certain to go down more in a few months when Dangote refinery begins to produce PMS locally as well as the impending resumption of production at the Port Harcourt and Warri refineries,” he added.