Babachir Lawal, former Secretary to the Government of the Federation, has strongly criticized President Bola Tinubu, asserting that Nigeria collapsed following Tinubu’s swearing-in on May 29, 2023.
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Lawal attributed this collapse to the immediate and unexpected removal of the fuel subsidy, a decision announced by Tinubu during his inauguration speech.
Lawal argued that the policy was implemented hastily without the necessary governmental framework in place.
He emphasized that the absence of a cabinet and the Federal Executive Council to manage the repercussions of such a significant policy shift was a critical error.
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This lack of preparation, according to Lawal, resulted in severe economic consequences.
He illustrated the impact of the subsidy removal by pointing out the dramatic increase in transportation costs, which are vital for both business operations and daily life.
Lawal shared his personal experience as a farmer, noting that transportation costs for animal feed from Zaria soared from N270,000 to N1 million per truck immediately after the policy was announced.
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This spike in costs extended to all sectors, affecting prices and economic stability nationwide.
Lawal described the situation as a complete deflation of the country’s economy, likening it to a balloon bursting.
He emphasized that the lack of a strategic plan and the necessary advisory bodies to foresee and mitigate the policy’s impact was a significant oversight by Tinubu’s administration.
