Subsidy: Triple Allocation, Triple Hardship – Tinubu Boasts of Increasing States Allocation

President Bola Tinubu has defended his administration’s decision to remove the fuel subsidy, emphasising that the country would not have survived its continuation. A policy he had protested against in 2012, during Goodluck Jonathan’s administration.  

Tinubu made this known in an address at the All Progressives Congress (APC) national caucus meeting in Abuja on Tuesday, February 25. He highlighted that state allocations have tripled, providing more funds for local government and development projects.

There is no way Nigeria could have survived the continuation of the fuel subsidy. There is no way; today, I can beat my chest and each of the governors here that allocations to the states are triple,” he said.

However, the removal of the fuel subsidy has led to significant hardships for Nigerians. The removal of the subsidy caused fuel prices to triple, leading to increased transportation costs and a surge in the prices of goods and services. This inflationary pressure has exacerbated the cost-of-living crisis, prompting the #EndbadGovernance protests nationwide and the subsequent use of security forces to quench the protest. 

It will be recalled that in 2012, during President Jonathan’s tenure, the brief removal of the fuel subsidy was met with fierce opposition from the then-opposition party, including key figures like former president Muhammadu Buhari, Tinubu and others who are now in the current administration. The “Occupy Nigeria” protests, which former Ekiti State Governor Kayode Fayemi has admitted were politically motivated.

Despite the increased allocations to states resulting from the subsidy removal, there is growing concern whether these funds are effectively reaching and benefiting the populace. Reacting to the president’s speech, some Nigerians took to social media to express their frustrations.

@AdekunleOderind on X wrote: “This administration keep celebrating illusion of money as multiplication of money. You have 100 naira note but you change it to 10 naira notes in 10 places, that does not make it more in value but more in pieces. The value of the allocation in USD is what is key not naira value.’’

@OlorogunErnest wrote: ”Just imagine, allocation to states tripled under  @officialABAT, yet we put all blame on the president while our governors reluctantly pay a minimum wage of 70k/mont”y. Some even owe sa”aries. The governors are our problems and not the president.’’

@Sire_Sammi wrote: “So he accepts he was wrong when he thwarted GEJ’s plans to remove the subsidy wayback in 2012?’’

@Edufunkey wrote: “Today I can beat my chest, and each of the governors here that allocations to the states are triple.” After devaluing the Naira. Let him also tell Nigerians what the value of the Naira he tripled”o compare the previous value. Stop looking at the figure and look at the current value.’’

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Oluwasegun Sanusi

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