Why the government should bring back 50% fuel subsidy – Cynthia Morgan
Nigerian singer Cynthia Morgan has joined the growing conversation on the country’s economic challenges, urging the government to reconsider its decision on fuel subsidy removal.
In a video posted to her Instagram account, the singer stressed the need for Nigerians to plead with the government, rather than ‘rant.’
Are you guys feeling what I am feeling? I’m not even going to lie, I’m feeling it o! And it’s quite unfortunate that we might not be able to do much other than plead with the government. Because spending over $8 billion on subsidy doesn’t make any sense.
From my findings, the total annual revenue for Nigeria in 2023/2024 was around 20-something billion dollars. So imagine spending $7 billion on subsidised petroleum products. It doesn’t make any sense.
The singer, who initially supported President Bola Ahmed Tinubu’s move to end fuel subsidies, now believes the current economic realities make it unsustainable.
I was one of the persons who applauded President Bola Ahmed Tinubu fir curbing subsides products because you know what it is. But currently, I don’t think we have what it takes to live totally off subsidy removal on petroleum products.
We don’t have the structures or anything to be able to sustain that. And that is why there’s inflation.
ALSO READ: #TinubuIsATerriblePresident – NYSC Member’s viral video sparks national outrage
She also acknowledged that while fuel subsidy expenditures were draining national resources, removing it completely without adequate measures in place has led to severe hardship.
I don’t think it’s a bad idea, but we are not ready. We can’t do it. 100 percent subsidy removal will not work. People are hungry. Crime rates are increasing.
But please, let’s not rant. Let us do a begging challenge. Let’s beg the government to help us, that they shouldn’t be angry. Maybe we have been irresponsible. Let the government roll back at least 50 percent of the subsidy removal. That’s my stance.
