If the FG removes fuel subsidy, is there any guarantee that the "savings" would be used for development projects for the people? The answer is No Technically the "savings" will reflect in a lower budget deficit from N6 - N4 Trillion. Those projects must already be in the budget.
It is important for Nigerians to know that the pathway to any sustainable development for the people must go through appropriation and the budget process. This fiscal reality also means we must be prepared for other "realities" (like debt serving) to take precedence over SDGs.
I don't kid myself in expectation that a removal of subsidy will suddenly bring the Eldorado we seek. That it'll provide govt more funding as it logically shd or that everything will pan out as planned. I'll rather work with the conservative view that it may or may not. #Diesel
Manage your expectations and maybe you won't be too disappointed. One thing is sure, to cushion the effects of any subsidy removal, the things that affect people the most, must already be in place. Good & affordable mass transport + food, good healthcare & availability of power.
Que - How do you achieve this without first spending money you don't have?
Ans:
1) By taking loans (higher budget deficit)
2) By increasing non-oil revenue (Higher tax collection: raising taxes or expanding tax net)
3) Selling Assets
4) Cutting size of govt
5) All of the above
Ans:
1) By taking loans (higher budget deficit)
2) By increasing non-oil revenue (Higher tax collection: raising taxes or expanding tax net)
3) Selling Assets
4) Cutting size of govt
5) All of the above
The next administration has its work cut out. The first task must be to manage people's expectations by explaining to Nigerians the true challenges and the road to overcoming it rather than lies wrapped in the cloak of political speech or campaign.
But can we handle the truth?
But can we handle the truth?
• • •
Missing some Tweet in this thread? You can try to
force a refresh
