General Obasanjo, a 5-star general, attempted to remove fuel subsidies four times but failed due to massive resistance from Nigerians.
During his 8-year tenure, he spent over $16 billion on fuel subsidies, despite increasing petrol prices from N11 to N85 (an 800% increase).
Similarly, General Buhari, another former military 5-star general, was unable to remove the subsidy despite setting deadlines.
He spent over $26 billion on fuel subsidies in 8 years. In total, both generals spent $42 billion on fuel subsidies over 16 years.
This amount could have been used to fix Ajaokuta steel, the four refineries, and generate over 30,000 MW of electricity.
However, BAT, a general in leadership, vowed to remove fuel subsidies when elected as president.
True to his words, the subsidy is gone. Despite resistance from various groups, Gen. BAT has succeeded where other generals failed.
After 18 months in power, Nigeria has saved over $10 billion.
The country no longer borrows to pay for subsidies, which has stopped smugglers from thriving on subsidized fuel.
The revenue generated is now spread across various sectors, including:
- Increasing federal allocation across all tiers of government
- Developing defense, education, agriculture, infrastructure, increase minimum wage etc
In the next 16 years, Nigeria is expected to save over $200 billion, which can be used to generate constant electricity, build world-class roads and rails, and establish top-notch hospitals.
Every great nation has made sacrifices for the benefit of future generations.
In 16 years, Nigerian children will be proud of the sacrifices made by their forefathers who stood firm with BAT.
God bless Nigeria
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.