Former Secretary to the Government of the Federation, Engr. Babachir Lawal, has declared that Nigeria collapsed following President Bola Tinubu’s swearing-in on May 29, 2023.
Lawal attributed the nation’s downfall to Tinubu’s unexpected announcement of fuel subsidy removal during his inauguration. He criticized the timing and execution of this policy, noting that it was introduced before assembling a cabinet.
In an appearance on Trust TV’s Daily Politics, Lawal elaborated on the severe impact of the subsidy removal. He emphasized that the increase in transportation costs, a critical component of business for both affluent and ordinary Nigerians, has been devastating.
Lawal described the situation on May 29 as a critical misstep due to the absence of a cabinet and the Federal Executive Council to mitigate the policy’s repercussions. He stated, “You embark on major policies that are very impactful on society without a proper team. It was like a cowboy move, removing the subsidy without having a minister of planning or finance to foresee the impacts. There was no federal executive council to approve it or offer advice.”
Continuing, Lawal remarked, “So immediately after that inauguration, Nigeria collapsed. It was like a balloon deflating. Transportation fares tripled almost instantly.”
Drawing from his personal experience as a farmer, Lawal illustrated the crisis’s tangible effects. “I used to pay N270,000 per truck for animal feed from Zaria, but that week it shot up to N1 million because of transportation costs. I couldn’t afford it. The cost of fuel skyrocketed, affecting everything.”
He recounted another instance where transporting three tractors from Kano would have cost him N3 million. “That policy alone crashed everything,” he concluded.
