Kenneth Okonkwo, spokesperson for the African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has criticised the timing of President Bola Tinubu’s fuel subsidy removal, describing the policy as poorly planned and difficult for ordinary Nigerians to sustain.
Speaking on Channels Television’s Sunday Politics, Okonkwo said while Nigeria should not have had a fuel subsidy in the first place, the government should have put adequate measures in place before scrapping it.
He pointed to the current petrol price of about N1,300 per litre, noting that filling a 100-litre fuel tank would cost roughly N130,000. According to him, that amount is almost twice the N70,000 minimum wage, leaving many workers struggling to afford essentials such as food, rent and healthcare.
“No responsible or compassionate leader will sit down and accept such a level of induced poverty by this regime,” Okonkwo said.
He also challenged claims that inflation is easing, arguing that Nigerians are still dealing with rising prices of food, transportation and other basic necessities.
“What I am saying is, because I am an economist, that the definition of inflation is when the prices of goods are rising. So, if the prices of goods are rising and you are telling us the inflation figure is going down, that is voodoo economics,” he stated.
Okonkwo recalled that he had called for the reversal of the subsidy removal shortly after it was announced, warning that the policy would eventually become unsustainable.
According to him, the government should have first ensured a stable supply of petroleum products and addressed monopoly concerns before removing the subsidy.
“I said we were reckless in going into oil subsidy, and we ought not to be reckless coming out of it,” he said.
Okonkwo maintained that Nigeria should never have needed a fuel subsidy in the first place because the country is an oil-producing nation.
“There ought not to be subsidy in the first place in Nigeria because oil is our product. This is what Atiku is saying,” he added.
The post “Fuel Subsidy Removal Has Put Nigerians In Poverty, Tinubu Was Ill-Advised” – Kenneth Okonkwo appeared first on Information Nigeria.