Former Secretary to the Government of the Federation, Babachir Lawal, has pointed to the inauguration of President Bola Ahmed Tinubu as the beginning of Nigeria’s current troubles. Lawal made these remarks during a discussion on Trust TV’s Daily Politics, highlighting the economic fallout from Tinubu’s policies.
Tinubu, who took office on May 29, 2023, announced the end of the fuel subsidy during his inaugural speech. This policy shift has significantly impacted the cost of goods and services nationwide. Lawal criticized the decision, noting that it was made without a functional cabinet or Federal Executive Council in place to manage the consequences.
Lawal detailed the immediate economic impact, citing personal experiences as a farmer. “Transportation costs tripled immediately,” he said. “I used to pay N270,000 to transport animal feed from Zaria, but costs soared to N1 million. Last week, transporting farm equipment from Kano would have cost me N3 million.”
He argued that the lack of proper planning and advisory bodies led to severe economic challenges, likening the situation to a deflated balloon. According to Lawal, Tinubu’s hasty policy implementation has left the nation struggling with skyrocketing prices and economic instability.