Sam Ohuabunwa, a former Peoples Democratic Party (PDP) presidential aspirant in the 2023 general elections, expressed support for President Bola Tinubu’s decision to remove the contentious fuel subsidy regime, stating that recent events have validated the move. Ohuabunwa made these remarks during an appearance on Channels Television’s Politics Today on Sunday night, shortly after Tinubu reiterated the rationale behind the subsidy removal during a panel session at the World Economic Forum in Riyadh, Saudi Arabia.
Ohuabunwa commended Tinubu’s leadership, acknowledging the necessity of addressing Nigeria’s revenue crisis by reducing expenditures and avoiding financial bankruptcy. He emphasized the importance of achieving positive results, affirming that Tinubu’s decisive action reflected a deep understanding of the nation’s economic challenges and resonated with those familiar with financial matters.
While acknowledging initial apprehensions surrounding the subsidy removal, Ohuabunwa lauded the subsequent outcomes, citing increased revenue streams resulting from the removal of subsidies and currency floatation. However, he cautioned against relying solely on palliative measures, urging the government to implement sustainable strategies to ensure long-term economic stability.
The former PDP chieftain emphasized the need for transparency in utilizing the additional revenue generated, urging the government to demonstrate tangible efforts beyond short-term palliatives. He underscored the importance of addressing citizen concerns and transitioning from a palliative-oriented approach to one focused on sustainable development initiatives.