President Bola Ahmed Tinubu’s signature slogan about making bold decisions to save the country seems to be failing. Instead of improvement, it has plunged the populace into deeper and unnecessary hardship. In this atmosphere of purported courageous choices, the government appears to have significantly neglected its duty to enhance the welfare of its citizens, leading to relentless and severe hikes in the price of petroleum products under the pretext of completely removing fuel subsidies.
Across both Socialist and modern Capitalist nations, there is no other country that has raised the price of Premium Motor Spirit (PMS) by approximately 430 percent, as Nigeria has done, in under two years.
When Tinubu took office in May 2023, the price of fuel was N196 per litre. Today, it has skyrocketed to N1,100 officially, marking an increase of nearly N1,000. No other nation, not even those embroiled in war, has seen such a dramatic rise in the price of a commodity that is essential for the economy and the welfare of its people.
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Such extreme price increases might occur in Fascist states, where the well-being of the populace is disregarded, and the interests of the state take precedence over individual welfare. However, Nigeria is not a Fascist state; it is a democracy whose constitution is more focused on welfare than on capitalist principles, prioritizing the survival, welfare, and security of its citizens above all else.
At the recent National Economic Summit, Vice President Kashim Shettima coldly justified the suffering of the people by stating that there were no alternatives to imposing further hardships on Nigerians. This assertion, however, is only partially true.
The Tinubu administration has not adequately examined the recommendations from the World Bank and the International Monetary Fund (IMF) aimed at ensuring the country’s economic survival. Instead, the government has chosen to implement measures that exacerbate the struggles of the populace.
The dramatic increases in fuel prices have had widespread repercussions, affecting transportation, food prices, and overall living costs. Many Nigerians are now grappling with the harsh realities of daily life, where basic necessities have become increasingly unaffordable.
The government’s failure to provide a viable alternative has left citizens feeling abandoned and frustrated. Promises of economic recovery seem hollow in the face of such stark realities, leading to growing discontent among the populace.
Moreover, the lack of transparency in the decision-making process raises questions about the motivations behind these bold decisions. Citizens are left wondering who truly benefits from these policies, as their own struggles intensify.
As the situation continues to deteriorate, there is an urgent need for the government to reassess its approach and prioritize the welfare of its citizens. Engaging in dialogue with the people and considering their needs is essential for restoring trust and stability.
Ultimately, the administration must recognize that the well-being of the populace is not just a political obligation but a fundamental responsibility. Without a genuine commitment to addressing the hardships faced by Nigerians, the promise of a better future will remain elusive.
In conclusion, the current trajectory of policies under President Tinubu’s administration calls for immediate reevaluation. The focus must shift towards fostering economic conditions that prioritize the welfare and security of the people, rather than imposing further burdens on an already struggling population.
