Professor of Finance and the Capital Market at the Nasarawa State University, Uche Uwaleke, has called on Nigerians to give President Bola Ahmed Tinubu the benefit of the doubt.
The President had in a nationwide broadcast on Monday in Abuja, reeled out a number of measures meant to cushion the effects of the removal of fuel subsidy.
In his inauguration speech, the President said fuel subsidy was gone forever. According to him, his administration would rather channel the savings from the subsidy removal into other critical sectors of the economy.
In his broadcast, the President said his administration has proposed the sum of N75 billion to fund enterprises at 9% interest per annum; N125 billion to energize MSME; release 200,000 Metric Tonnes of grains; 225,000 metric tonnes of fertilizer, seedlings, and other inputs to farmers; and N50 billion each to cultivate 150,000 hectares of rice and maize.
Also, the federal government will also make available N50 billion each to cultivate 100,000 hectares of wheat and cassava, N100 billion to acquire 3000 units of 20-seater CNG-fuelled buses and review the minimum wage.
Uwaleke said: “The President’s address to the nation is quite soothing.
“He spoke in clear terms and I think Nigerians should allow him the benefit of the doubt.”
The first Professor of the Capital Market in Nigeria was however concerned that President Tinubu failed to tell Nigerians how the executive will also make sacrifices.
“But it was short on how the three arms of government will share in the pains of the governed, especially with respect to affecting a significant cut in the cost of running government,” he asked.
