Former Nigerian President Olusegun Obasanjo has criticized the approach of President Bola Tinubu’s administration in removing the fuel subsidy, cautioning that it will exacerbate the suffering of ordinary Nigerians.
In an interview with the Financial Times, Obasanjo expressed concerns that the government’s hasty implementation of the policy will worsen the economic hardship faced by citizens.
He emphasized that the administration should have focused on mitigating the adverse effects of the subsidy removal, rather than rushing to enforce the policy. Obasanjo’s comments come as Nigerians brace for the impact of the subsidy removal, which is expected to lead to increased fuel prices and higher living costs.
“There’s a lot of work that needs to be done. Not just wake up one morning and say you removed the subsidy. Because of inflation, the subsidy that we have removed is not gone. It has come back,” he stressed.
The former President stressed the need for investor confidence in Nigeria, advocating for a shift from a transactional economy to a transformational one. “You have to go from transactional economy to transformational economy.”
Gaius Otutu is the owner of GistsNaija, which was launched in 2012.
Gaius Otutu is a prominent Nigerian businessperson who has made a name for himself in the world of entrepreneurship. Born and raised in Delta State, Nigeria, into a family of 6, with his Siblings Blessing, Favour, Henry. Gaius has always had a keen eye for business opportunities and a strong desire to make a positive impact on his community. He started his entrepreneurial journey at a young age and has since become a highly successful and well-respected figure in the Nigerian business world.
Gaius passion for business was evident from an early age, as he was always looking for ways to make money and create opportunities for himself. He started his first business while still in secondary school, and it was clear from the beginning that he had a natural talent for entrepreneurship. After completing his education, Gaius fully dedicated himself to building his career and making his mark in the business world.
One of Gaius most notable ventures is GistsNaija, a leading Nigerian entertainment and news website that he founded in 2016. GistsNaija has grown to become one of the most popular and trusted websites in Nigeria, attracting millions of visitors each month. The platform provides a wide range of content, including Movies, music, news, and entertainment, and has become a go-to source for many Nigerians seeking the latest updates and information.
In addition to GistsNaija, Gaius has also ventured into other business areas, including Tech and real estate. His keen eye for spotting emerging trends and his ability to connect with his target audience have been key to his success in these ventures. Gaius has demonstrated an impressive understanding of consumer behavior and market dynamics, allowing him to build thriving businesses that meet the needs and desires of his customers.
on 6 August, 2024 | 
Leave a Reply