Fuel subsidy removal, Naira floating policies taking armful effects on Nigeria, says PDP chieftain

Kola Ologbondiyan, former spokesperson for the Peoples Democratic Party (PDP), has criticized the economic policies of President Bola Tinubu’s administration, specifically the removal of the fuel subsidy and the floating of the Naira, claiming they have brought Nigeria to its knees.

Speaking on Channels Television’s The Morning Brief on Monday, Ologbondiyan argued that the administration should have opted for a phased removal of the petrol subsidy while implementing meaningful palliatives to cushion the impact on Nigerians. He suggested measures such as reducing public transportation fares instead of distributing subsidized rice to citizens.

Ologbondiyan’s remarks follow a weekend meeting of PDP governors, where they urged President Tinubu to implement comprehensive reforms to stabilize the nation’s economy.

“Basically, I as Kola Ologbodiyan, subscribe to the ideas as laid down by the original founders of the party.

“For instance, let’s take the issue of the removal of subsidy, because what has brought Nigeria to its knees has been these two major decisions made by President Bola Tinubu, particularly on the subsidy and removal of the naira.

“But under the PDP leadership in the time past- I am aware that what we had was a phased subsidy removal, which also came with palliatives. The APC has said Nigerians should go and buy rice at N40,000 per bag. But the needs of Nigerians go beyond rice. So, I believe the policies could also be better if we have a public transport system where you and I won’t have to drive our vehicles at a subsidised rate.

“But the unfortunate thing as we are witnessing today is that we are paying lip service, even as PDP to engaging the sitting government on its reforms, to put forward alternatives,” he said.