As Nigeria approaches its 64th Independence Day on October 1, Professor Kenneth Azaigba of Federal University Dutse has called on President Bola Tinubu to reintroduce the fuel subsidy to ease the economic burden on Nigerians.
Speaking in an interview on Sunday in Makurdi, the history professor emphasized that reintroducing the subsidy could help revive the struggling economy and mitigate the harsh impact of current policies.
Azaigba pointed out that the removal of the fuel subsidy, marked by Tinubu’s declaration that “subsidy is gone,” has led to a depreciation of the naira and increased hardship for citizens.
He stressed that the issue was not with the subsidy itself but with its mismanagement, arguing that no economy can thrive without some form of subsidy, especially in a developing country like Nigeria.
“We cannot run an economy like ours without subsidies. The subsidy management regime has to be looked at. Electricity tariffs and fuel prices are unreasonably high, and without mitigating these, we won’t be able to breathe in Nigeria again,” he said.
The professor urged the government to reconsider its economic policies, noting that they are meant to improve not only the economy but the quality of life.
He expressed concern over the rapid devaluation of the naira and its negative impact on daily living.
Reflecting on Nigeria’s 64th Independence, Azaigba acknowledged some incremental progress but lamented the country’s failure to fully harness its vast resources for economic transformation.
He also called for innovative solutions to address the current economic challenges and stressed the need for a more strategic approach to national development.
