An Australia-based Nigerian publisher of 9News Nigeria and CEO of Nine Communications Nigeria Limited, Mr. Obinna Ejianya, weekend urged President Bola Tinubu to seek alternative means to alleviate the suffering of Nigerians .
Mr Ejianya who acknowledged the President’s eagerness and resolute to solve Nigeria’s economic turmoil, urged President Tinubu not to impose additional 5% tax on fuel , adding such a policy would ‘cripple’ Nigerians.
According to the Australia-based Nigerian publisher, President should seek alternative means to alleviate the suffering of Nigerians rather than worsening it, noting that reducing fuel prices was critical to stimulating the economy and providing relief to millions of citizens battered by the skyrocketing cost of living.
He maintained that restoring the fuel subsidy should have been a top priority, not an afterthought, given that every aspect of Nigeria’s economy depends heavily on fuel, adding that policy choices should prioritize saving lives and livelihoods by restoring affordability in energy and transport, strengthening transparency in public borrowing and spending, and adopting growth-friendly, people-centred alternatives instead of punitive levies that push Nigerians further into distress.
He cautioned that the imposition of a further tax on petrol would surely exacerbate the plight of citizens already gasping under the current hardship.
Mr. Ejianya cited the destructive effect of the subsidy removal in 2023, which marked the beginning of the Tinubu’s tenure.
He emphasized that any further increase in fuel prices would be tantamount to sending Nigerians to an early grave, adding ” Nigerians are already dying from the unbearable cost of fuel following the subsidy removal, which triggered hyperinflation and sharp increases in the prices of goods and services”.
Mr Ejianya said basic staples such as rice and other food items have skyrocketed, some rising as much as tenfold compared to prices just three years ago under former President Muhammadu Buhari. Many Nigerians thought Buhari’s government represented the worst economic hardship, only to face an even harsher reality under Tinubu.
