By Kelechi Kennedy Nwagwu
We are all witnesses to the economic crunch occasioned by the reforms to liberate us, our children, and generations unborn from crass debt subjugation.
The continuation of fuel subsidy is sweet overtly, but the covert implications far outweigh the immediate benefits. It’s the predictions of Renewed Hope Consolidation Mandate 2027 that before December 2027, fuel will sale in Nigeria between #180 and #205 a litre. This analysis and projection arise from an empirical perspective.
From the announcements of the removal of fuel subsidy on May 29, 2023, the price of fuel soared to between #1,300 and #1,500 and today between #825 and 900 within one year nine months. Statistically speaking with Port Harcourt, Warri, Kaduna refineries in full operation coupled with 100s of modular refineries licences issued by FGN and Dangote refineries in full operation the price will drop by 70%.
The bad effects of subsidy are numerous. Operators were defrauding the country as well as the country being engulfed in heavy debt overhead, of which, if not stopped, would have kept us in perpetual indebtedness. Another issue is that we were paying for fuel or products consumed by our neighbouring countries.
What do we need to address this agelong malfeasance in our country? Is it not the Consolidation Mandate of the president 2027? All these honest reforms embarked upon by President Tinubu will materialise with time, thereby pulling us out completely from the woods and collapse as a nation. Its justification is that prices of food items and other goods and services are speedily dropping.
In this vein, please encourage your children and wards in school to access students’ loans (NELFUND). Upon the swearing-in of President Tinubu for the second term, the loans will be commuted to scholarships.
The investments made in agriculture, education, road infrastructure, social welfare, aviation, railway, blue economy, local government autonomy, electricity, housing, and health, among others, points to the fact that our redemption is in sight.
The fountain of liberty is watered by the blood of the martyrs. We salute President Tinubu’s audacity of courage, taking the bull by the horn. A leader shows the way, and the followers follow.
We should devise a mechanism to let our people pray for their state governor’s to use their federal allocation to address the hunger as their allocations thrippled under President Tinubu. Thank you so much for your time.
