In an interview with Channels Television on Thursday, February 1st, Information Minister Mohammed Malagi defended the government’s decision to remove fuel subsidy, despite the rising cost of living and inflation that followed.
He argued that the move, while painful, was necessary to avoid a much worse economic situation.
“You’re premising your argument on the fact this problem just started yesterday. The foundation of our economy had taken a beating a long time ago. The substructure of our national economy has been one that cannot hold a meaningful substructure on it,” he said while featuring on Channels Television’s breakfast show Sunrise Daily.
“So, it is important that Nigerians recognise that the President and his team would have to go back to reset that and that is why from day one, he said, ‘Look, subsidy issue has to go’. He had to expect that there would be this pain, of course. He anticipated that Nigerians would encounter some difficulties. But it would be worse if that subsidy did not go. It would have been difficult to carry out any meaningful development. We needed to free up resources.”
Malagi’s comments are likely to spark further debate and scrutiny surrounding the government’s decision and its impact on the Nigerian people. While some may agree with the long-term vision presented, others may remain skeptical about the immediate hardships and the government’s ability to effectively utilize the freed-up resources.
