Prof. Kenneth Azaigba has urged President Bola Tinubu to reintroduce fuel subsidy to reduce the sufferings of Nigerians as the country turns 64 on October 1.
Azaigba, a professor of History, Federal University Dutse, gave the advice in an interview with the News Agency of Nigeria (NAN) on Sunday in Makurdi.
The university don stated that the reintroduction of subsidies would help the Nigerian economy to thrive.
According to him, the problem had not been the subsidy itself but the management of the subsidy.
Azaigba said that when President Tinubu made the statement,’subsidy is gone’, not only the value of the naira depreciated, but even the lives of the people.
He pointed out that there is no state or economy that survives without subsidy.
“Given the nature of our ecosystem, the president must find a way of reintroducing subsidy; the problem you know is not subsidy per se; the problem has been with the management of subsidy.
“We cannot run an economy like ours without subsidies.
“So the subsidy management regime has to be looked at; electricity tariffs are on the high side, and the price of fuel is also outrageously high.
“There is a need to mitigate that otherwise, we would not be able to breathe in Nigeria again.
“The President needs to revisit some of the economic policies. The impact on the people is too harsh; economic policies are meant to improve not just the economic system but the lives of the people,” he added.
He further stated that when the impact of policies makes life miserable, then such policies need to be revised.
He urged the president to rethink the reforms because the level at which the naira is losing its value was very worrisome, as it was making life tougher for the people.
On Nigeria’s 64th independence, the lecturer said that country has a lot to celebrate as it has made incremental progress in some areas.
“But if you take a look at what has happened since 1960, development has largely eroded the country given the type of resources Nigeria has.
“Given the kind of resources that we have, our resources are still at the level of potential.
“We have not been able to transform those resources into products that can transform the economy, which can improve the standard of living in the country.
“So far, so good; we are on the march to development; hopefully one day we will get there even though it is very slow; Nigeria is making progress.
“Government needs to put on its thinking cap and find solutions to the economic situation that is hovering around the country. (NAN)