Presidential Candidate of Labour Party in the 2023 elections, Peter Obi, has said the recent palliatives introduced by the Federal Government were brought about as a result of “limited thinking,” of people in power.
While noting that the palliatives are temporary solutions, Obi said the proceeds of fuel subsidy removal should have been invested in education and health which are the main keys to brining Nigerians out of poverty.
The former Anambra governor made this known while appearing as a guest in an interview on Arise TV’s The Morning Show.
He also condemned the devaluation of the currency.
“If you look at what this country has been doing since inception, you could see announcements with limited thinking. Which again produces limited outcome. We need to find a way in an organised manner, to remove and show the proceeds or the gains of the removal to be invested in the critical development areas of education, health, and bringing people out of poverty,” Obi said.
“When you do it in that an organised manner, with proper palliatives that are well structured, you would have seen Nigerians going along with you.”
Speaking about fuel subsidy, he said, “Fuel subsidy is organised crime. I’ve said this repeatedly that it needs to be removed. I mentioned during the campaign that what we are consuming is far above what we are supposed to be consuming.”
When asked if he would be willing to work with the current government, he said, “We are at the point where we are challenging the process and that has to come to a logical end before any other thing. Even being in the opposition is part of building the government.”
On the volatility of the naira, Obi advised, “What you should have done is devalue the currency while trying to manage the supply by making sure you deal with issues that control the exchange rate. Which is the reserve. And what controls your reserve is your export. Especially, oil and other minerals. Encourage (export of) those things and then deal with issues of foreign exchange while trying to manage what you have.”
(Daily Trust)
