Removing subsidies was a critical step towards reviving Nigeria’s economy. Many acknowledged the necessity of this move, but few had the courage to implement it. When critics condemned the timing, they failed to propose a better alternative. I often ask: when is the right time to do what is right, if not now? The truth is, decisive action is often needed most during challenging times. The President took bold action, ending unsustainable practices like borrowing to fund subsidies and defending the local currency.
This decision has freed up resources for development, enabling governors to meet statutory obligations without struggle. The impact is evident: since 2023, governors have managed to fund projects without borrowing and pay salaries without difficulty. This fiscal stability marks a significant shift from the past. Though the decision brought temporary hardships, it reflects statesmanship over politics. The President prioritized the nation’s long-term interests, and the results are promising.
As the President marks his second year in office, commendations are in order. His leadership has paved the way for gradual economic recovery. With continued strength and wisdom, Nigeria can look forward to enduring prosperity. The President’s bold decision-making serves as a beacon of hope for a brighter future, demonstrating that tough choices can lead to transformative outcomes.
Onwenna.
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