President Tinubu, Change Gear On Subsidy Right Away

"President Tinubu, Change Gear On Subsidy Right Away" I would like to advise President Bola Ahmed Tinubu and his economic advisers he seems to be lending listening ears to that without massive Compressed Natural Gas (CNG) roll-out, within the next two weeks, the subsidy policy will fail. And the CNG will have to be subsidized for the economy to be rejigged. The now-mainstream thought about the removal of gas subsidies as championed by Western Economists talks of how much will be saved by countries ($10bn for Nigeria), but conveniently forgets how much the country loses in internal trade as living costs rise sharply. Austerity measures blow away small businesses and obliterate the middle class, leaving out the big corporate class who can survive removal of energy subsidies. The problem, though, is that major corporations are always optimized to minimize costs (labour especially) and maximize profits. Their primary goal is not to create more jobs, but to provide the highest p...