Lawal

A true Ronu can never support APC

1. The Subsidy Abolition: The Reform That Changed Everything No single policy decision since May 1999 carries more consequence (hence my ‘consequential president’ in the message you replied) than the sentence Tinubu delivered on inauguration day: “the fuel subsidy is gone.” That sentence did what decades of reports, IMF recommendations, and World Bank conditions had failed to do. Structural Context: The fuel subsidy had become, by 2023, less a social protection mechanism and more an organised wealth transfer to a politically connected elite. By the time Tinubu assumed office, Nigeria was spending approximately 97 percent of its total revenue on debt servicing. Analysts described this situation as disastrous.  The subsidy consumed whatever remained. The arithmetic was simple: the state could not survive it. Before the reforms initiated in May 2023, the Nigerian economy was characterised by a deeply entrenched oligarchy, where a small group of political elites, military officers, and business moguls controlled state resources. The pre-reform landscape included a fuel subsidy system described as rife with corruption and used as a feeding bottle for a select few, as well as multiple exchange rate windows that allowed FX subsidy merchants to exploit the gap between official and parallel market rates.  Macroeconomic Outcome: The country’s fiscal deficit dropped from 5.4 percent of GDP in 2023 to 3.0 percent in 2024, bolstered by increased national revenue which rose from ₦16.8 trillion to ₦31.9 trillion.  That is a near doubling of revenue in a single fiscal year. Note that this wasn’t due to the usual commodity windfall that only necessitated such progress in the past. It was a structural correction. Allocations from the Federation Account Allocation Committee in 2025 experienced a significant surge, with the three tiers of government sharing over ₦33.27 trillion in the first eleven months. This was a 30 percent increase over the same period in 2024. This growth, driven by subsidy removal and exchange rate reforms, included record monthly distributions such as ₦3.64 trillion in September 2025.  One of your leader’s favorite countries, Bangladesh, and a number of other countries are battling the crippling effects of fuel queues as we speak, even leading to the death of some citizens. Nigeria is suffering the effect of the war in the ME but we would be in a much worse situation but for this reform.