Kachikwu, in a reaction to the broadcast said Tinubu is walking the same path of old in dealing with the controversial subsidy policy even as he noted that until the corruption in the sector is addressed, not much would come the way of Nigerians despite the removal of subsidy from petrol.
he ADC chieftain said, “The President’s speech once again highlighted the absence of a solid team behind the presidency. He devoted the first few paragraphs of his speech to those who have abused the subsidy scheme but yet failed to mention what his administration would do to ensure they are brought to justice.
“The President made the same mistake of his predecessors in formulating policies and plans that assume ceteris paribus is in play. All other conditions can never remain the same in Nigeria. Deep rooted multi-dimensional corruption is an unquantifiable variable that distorts and disrupts every economic plan and policy. This might be the real meaning of the oft-used phrase: the Nigerian Factor.
“We must now go beyond textbook economic theories and fashion out homegrown ideas and solutions that take into cognisance the reality of who we really are as a people.”
On measures taken by the government to cushion the effect of the subsidy removal, Kachikwu said the steps are too little to have meaningful impact in the lives of Nigerians.
“All the palliatives prescribed are tokens in nature and will do little or nothing to ameliorate the plight of Nigerians. Someone needs to tell the President that N1billion is now just $1.1million. What scale of industry or manufacturing can you start with this amount? The Nigerian Custom Service alone takes about N10m per 40ft container.
“He (Tinubu) prescribed N50,000 which is less than $100 for nano businesses. Really?
“Mr President also mentioned that his administration would procure 3000 CNG powered buses but he probably doesn’t know that Nigeria has only sixteen installed CNG skids and most of them are in the southern part of Nigeria.
“President Tinubu means well but there still remains a big difference between meaning well and doing well. It is hard to do well with the assemblage of a mediocre team,” he added.
Nigerians of all walks of life are currently groaning over the pains occasioned by the removal of fuel subsidy culminating in a nationwide industrial action last week called by the organized labour.