What I Would Have Done Differently as President – Amaechi

• Amaechi proposes building 200,000-300,000 houses to create jobs and mitigate economic hardship following fuel subsidy removal
• Former minister criticizes current economic landscape, highlighting the disappearance of Nigeria’s middle class and need for tangible investments

Former Rivers State Governor and ex-Minister of Transport, Rotimi Amaechi, has said he would have handled the removal of fuel subsidy differently if he had been elected president.

He emphasized the need for social housing and job creation to cushion the impact of the subsidy removal.

Amaechi, who lost the 2022 All Progressives Congress (APC) presidential primary to President Bola Ahmed Tinubu, shared his views during the second day of a democracy conference in Abuja.

The two-day event, themed “Strengthening Nigeria’s Democracy: Pathway to Good Governance and Political Integrity,” was organized by several democratic institutions, including the African Centre for Leadership, Strategy and Development (Centre LSD), the Centre for Democracy and Development (CDD), the Westminster Foundation for Democracy (WFD), the Peering Advocacy and Advancement Centre in Africa (PAACA), and the National Peace Committee (NPC).

Speaking as a panelist in a session on “Impact of Democracy on the National Economy,” Amaechi acknowledged that subsidy removal was inevitable but questioned the preparedness of Tinubu’s government.

There is nobody that would have become president that would not have removed the subsidy. What I don’t know is what time was appropriate for the removal. How prepared was the Tinubu government when he announced the removal? he asked.

He revealed that when asked by his family what he would have done differently, his response was clear:

I would remove the subsidy, but I would not remove it without social housing. With the money saved from subsidy removal and Naira devaluation, we could build between 200,000 and 300,000 houses.

Amaechi argued that a large-scale housing project would have multiple benefits, including job creation and economic stimulation.

“If you build between 200,000 and 300,000 houses in the states, how many jobs have you created? At least 300,000 bricklayers, 300,000 carpenters, and 300,000 plumbers. By the time you do those things, what have you done? You have put money in the hands of the people.”

Amaechi also lamented the widening gap between the rich and poor in Nigeria, noting that a functional middle class no longer exists.

The last time we had the middle class was under President Olusegun Obasanjo. He created an economy that generated jobs. Even though some argued it was a shaky middle class that disappeared at the end of every month when salaries were paid, at least we had a middle class.

He continued:

Now, it’s either you are rich or you are poor. If social housing and investments in agriculture had been implemented alongside subsidy removal, people would not feel the impact as harshly as they do now.

Amaechi stressed that the government should use funds saved from subsidy removal on projects that directly benefit citizens and create economic opportunities.