Subsidy Removal as Restructuring Strategy By Comr. Ola Tunde

What subsidy does to Nigeria is to create an imbalance in the economy allowing everyone to go into bunkering, raising private armies, jetty ownership, private jets and every other endeavor antecedent to it. They build private refineries in foreign countries employing as much as 20, 000 foreigners while our own refineries remain less competitive going by the subsidy we pay outsiders. It explains why Nigerians have developed the economies of neighboring African countries where electricity is more stable because it helps to sustain their refineries so they could smuggle in the products or sell to us at high prices thereby requiring higher and higher subsidies, most of the fuel stations are selling above #150 per litre even before now.

Last year alone Government paid about a quarter of the subsidies and by this year was expected to double last years cost. Yet we sink ever deeper and foreign investors stay away. Our suffering is to reform in our collective ways of living so we depend less on what is inherently a wrong way of living forced upon us by our past rulers.

I will like to submit by saying it is a bitter pill that Nigerians need to swallow, and I strongly believe the ‪#‎350b‬ social intervention fund will reduce the burden. PMB will never fail! Nigeria will never fail!!

God bless Nigeria.