Nigeria's Decline Attributed to Tinubu's Leadership – Babachir Lawal
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| Nigeria's Decline Attributed to Tinubu's Leadership – Babachir Lawal |
Lawal attributed the country's economic downturn to the unexpected removal of fuel subsidies announced by Tinubu on his inauguration day, a decision made prior to the formation of his cabinet.
The former Secretary to the Government of the Federation, Engr. Babachir Lawal, has stated that Nigeria's decline began following President Bola Tinubu's inauguration on May 29, 2023.
Lawal attributed the country's economic downturn to the unexpected removal of fuel subsidies announced by Tinubu on his inauguration day, a decision made prior to the formation of his cabinet.
This was expressed by the former SGF during a discussion on the state of the nation on Trust TV’s Daily Politics.
Lawal pointed out that the removal of fuel subsidies led to a spike in transportation costs, which are fundamental to the business operations of both affluent and ordinary Nigerians.
He criticized the actions taken on May 29, noting that the absence of a cabinet and the Federal Executive Council to manage the fallout of such a drastic policy was Tinubu's downfall, resulting in the country's total collapse.
“I have previously spoken about this. When you assume office on your inauguration day," he said.
"You immediately implement major policies that significantly affect societal life. It's akin to a cowboy, or a macho man, eliminating subsidies. At that moment, there was no minister of planning to foresee the outcomes, the repercussions to manage.
"There was no minister of finance to assess the societal impact. There wasn't even a federal executive council to approve it; there was nothing. At that time, there was no one to advise, no one to consider the 'what ifs'."
He further explained, "Right after the inauguration, Nigeria collapsed. It's like a deflating balloon. Nigeria plummeted. It deflated entirely. Suddenly, transportation costs tripled," he remarked.
"That very week, I used to purchase animal feed for my cattle from Zaria, paying N270,000 per truck. That week, I could no longer afford it, as transportation costs alone soared to N1 million," he shared from his own farming experience.
"The fuel price hike made everything unaffordable. Recently, I acquired some farm equipment. To transport it from Kano, I was quoted N3 million for shipping three tractors on a single trailer. Everything has escalated. That policy alone triggered a complete crash."
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