Tinubu’s Abrupt Subsidy Removal Caused Hardship – Sagay

• Professor Itse Sagay criticizes President Bola Tinubu’s abrupt removal of petrol subsidies, citing its adverse effects on citizens’ welfare
• Sagay suggests patience and leveraging domestic oil production from projects like the Dangote refinery before scrapping subsidies

Senior Advocate of Nigeria, Professor Itse Sagay, has criticised President Bola Tinubu’s sudden removal of petrol subsidies, denouncing it as a rash decision that has inflicted significant hardship on citizens.

In an interview on Channels TV, Sagay contended that the government should have exercised patience and awaited the commencement of domestic oil production before implementing such a measure.

The esteemed legal scholar, who also chairs the Presidential Advisory Committee Against Corruption (PACAC), highlighted the potential role of projects like the Dangote refinery and the Port Harcourt refinery in facilitating a smoother transition from subsidies.

Sagay remarked, “Petrol is indispensable to our daily lives. The rising cost of living has made necessities increasingly unaffordable. We could have waited another six months, allowing internal production to ramp up before eliminating the subsidy.”

“The abruptness and immediacy of the decision to scrap petrol subsidies have precipitated a level of hardship that is nearly unbearable,” he continued.

Expressing his reservations about the current approach, Sagay emphasized his preference for a more gradual transition, leveraging emerging domestic production capabilities.

“Now, with Dangote’s commencement of production and the imminent completion of the Port Harcourt refinery, perhaps a bit more patience could have mitigated the impact of the transition. While we are already in the midst of it, I maintain confidence in the competence of our leadership to navigate through this challenging period,” Sagay added.

He also underscored the urgency of addressing the depreciation of the naira, warning of its potential to undermine government efforts.

“I never anticipated a scenario where the dollar would exceed N1,000. This trend must be halted, as it threatens to undermine all the government’s endeavors,” Sagay asserted.

Despite his concerns, Sagay expressed optimism in the capabilities of the new government, affirming his belief in its capacity to deliver effective leadership for the Nigerian people.