As Nigeria gets closer to its 64th Independence Day on October 1, Professor Kenneth Azaigba from Federal University Dutse has suggested that President Bola Tinubu should bring back the fuel subsidy to make life easier for Nigerians.
In a recent interview in Makurdi, the history professor emphasized that reintroducing the subsidy could help improve the struggling economy and reduce the negative impact of current policies.
Azaigba pointed out that removing the fuel subsidy, as Tinubu stated “subsidy is gone,” has caused the naira to lose value and made life harder for people.
He emphasized that the problem was not the subsidy itself but how it was handled poorly, stating that no economy can do well without some type of subsidy, particularly in a country like Nigeria that is still developing.
He stated, “We cannot run an economy like ours without subsidies. The subsidy management regime has to be looked at. Electricity tariffs and fuel prices are unreasonably high, and without mitigating these, we won’t be able to breathe in Nigeria again.”
The professor advised the government to rethink its economic strategies, highlighting that they should aim to enhance both the economy and people’s well-being.
He showed worry about the quick drop in the value of the naira and how it is making it harder for people to manage their daily expenses.
While looking back on Nigeria’s 64th Independence Day, Azaigba recognized some gradual advancements but expressed disappointment over the nation’s inability to effectively utilize its abundant resources for economic growth.
He advocated for innovative solutions to tackle the existing economic hurdles and emphasized the requirement for a more thoughtful strategy towards national progress.
