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From Lateef Dada, Osogbo
An Economic Historian and Public Affairs Analyst, Dr. Adetunji Ogunyemi, has warned against the return of subsidy saying it does not help the economy of Nigeria.
Ogunyemi, who spoke on a private radio station monitored by our correspondent in Osogbo, Osun State, on Tuesday, noted that the destruction already done to the nation’s economy has been so deep that it can not be quickly fixed as expected by Nigerians.
The Associate Professor at Obafemi Awolowo University (OAU), Ile-Ife, maintained that Nigeria is still on the right path with the economic policies of President Bola Tinubu, saying he did not believe that subsidy is back until official data is released by the National Bureau of Statistics and NNPC.
He said, “Fuel subsidy must not return. It does not help the economy. The truth is that the level of destruction of the economy has become so deep that it will take a financial Engineer working consistently for ten years to return it to normalcy.”
On whether there is an alternative to subsidy removal, Ogunyemi said “There is no alternative to a painful diagnosis to cure a patient that is on death bed. Nigeria’s economy is about to completely collapse. The level of damage is so deep and so fundamental that what I expect the government to do after the fourth month of coming to power is to increase Nigeria’s export of oil.
“There is a need to apprehend and punish those people who are in the area of destroying the financial statutory of the country in the NNPC and the money they have stolen be recovered.
“We are perfectly on the right path. It is not a path of celebration, it is a major path to be able to rescue our country from the total collapse,” Ogunyemi said.
