{"id":130263,"date":"2024-09-07T11:51:57","date_gmt":"2024-09-07T10:51:57","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/hardship-how-tinubu-got-floating-of-naira-fuel-subsidy-removal-wrong-kalu-aja"},"modified":"2024-09-07T12:58:47","modified_gmt":"2024-09-07T11:58:47","slug":"hardship-how-tinubu-got-floating-of-naira-fuel-subsidy-removal-wrong-kalu-aja","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/policy\/hardship-how-tinubu-got-floating-of-naira-fuel-subsidy-removal-wrong-kalu-aja","title":{"rendered":"Hardship: How Tinubu got floating of Naira, fuel subsidy removal wrong \u2013 Kalu Aja"},"content":{"rendered":"

Africa-Press – Nigeria. <\/strong><\/span>Kalu Aja, a financial analyst and educator, has said Nigeria would have been completely bankrupt if President Bola Tinubu had decided against floating the naira and removing fuel subsidies.<\/p>\n

Aja explained that floating the Naira and removing Premium Motor Spirit (PMS) subsidies were not optional decisions, as the country had no choice.<\/p>\n

However, in a post on his X handle on Friday, the financial expert stated that Tinubu mishandled the implementation of palliatives.<\/p>\n

He pointed out that it took the Nigerian government a year to understand that food needed to be imported and even to draft a plan, adding that the CNG buses have remained elusive.<\/p>\n

According to him, if Tinubu had announced a total cancellation of all duties and taxes on food and introduced new public transportation options, the pain caused by these policies would have been more bearable.<\/p>\n

Aja wrote: \u201cFloating the naira was not a decision; Nigeria had no choice. Removing PMS subsidies was not a decision; Nigeria had no choice.<\/p>\n

\u201cA decision means Nigeria could have decided NOT to float the Naira and NOT to remove subsidies; both decisions would have bankrupted the nation completely\u2014like we would be lining up to buy bread with vouchers.<\/p>\n

\u201cWhere Tinubu got it wrong was in the implementation of palliatives. Recall that, at a point, the palliative being proposed was N8,000.<\/p>\n

\u201cIt took the FGN a year to understand that food had to be imported and even to draft a plan! As we speak, the CNG buses are still a mirage.<\/p>\n

\u201cIf the president had announced a total cancellation of all duties and taxes on food and introduced new public transportation options, the pain would have been bearable. This is important.<\/p>\n

\u201cAll these calls to \u2018reverse the policy\u2019 ignore the fact that we spent more on PMS subsidies than on health, education, and infrastructure over the years; it\u2019s not sustainable.\u201d<\/p>\n

For More News And Analysis About Nigeria Follow Africa-Press<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. Kalu Aja, a financial analyst and educator, has said Nigeria would have been completely bankrupt if President Bola Tinubu had decided against floating the naira and removing fuel subsidies. Aja explained that floating the Naira and removing Premium Motor Spirit (PMS) subsidies were not optional decisions, as the country had no choice. […]<\/p>\n","protected":false},"author":84,"featured_media":130262,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,14],"tags":[14047,1623,254,945],"class_list":["post-130263","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-kalu-aja","tag-naira","tag-nigeria","tag-tinubu"],"yoast_head":"\nHardship: How Tinubu got floating of Naira, fuel subsidy removal wrong \u2013 Kalu Aja - Nigeria<\/title>\n<meta name=\"description\" content=\"Kalu Aja, a financial analyst and educator, has said Nigeria would have been completely bankrupt if President Bola Tinub ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/policy\/hardship-how-tinubu-got-floating-of-naira-fuel-subsidy-removal-wrong-kalu-aja\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hardship: How Tinubu got floating of Naira, fuel subsidy removal wrong \u2013 Kalu Aja\" \/>\n<meta property=\"og:description\" content=\"Kalu Aja, a financial analyst and educator, has said Nigeria would have been completely bankrupt if President Bola Tinub ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/policy\/hardship-how-tinubu-got-floating-of-naira-fuel-subsidy-removal-wrong-kalu-aja\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2024-09-07T10:51:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-09-07T11:58:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/09\/sm_1725697696.166729.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"804\" \/>\n\t<meta property=\"og:image:height\" content=\"411\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/hardship-how-tinubu-got-floating-of-naira-fuel-subsidy-removal-wrong-kalu-aja#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/hardship-how-tinubu-got-floating-of-naira-fuel-subsidy-removal-wrong-kalu-aja\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Hardship: How Tinubu got floating of Naira, fuel subsidy removal wrong \u2013 Kalu Aja\",\"datePublished\":\"2024-09-07T10:51:57+00:00\",\"dateModified\":\"2024-09-07T11:58:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/hardship-how-tinubu-got-floating-of-naira-fuel-subsidy-removal-wrong-kalu-aja\"},\"wordCount\":337,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/hardship-how-tinubu-got-floating-of-naira-fuel-subsidy-removal-wrong-kalu-aja#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/09\/sm_1725697696.166729.jpg\",\"keywords\":[\"Kalu Aja\",\"naira\",\"Nigeria\",\"Tinubu\"],\"articleSection\":[\"all news\",\"Policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/policy\/hardship-how-tinubu-got-floating-of-naira-fuel-subsidy-removal-wrong-kalu-aja#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/hardship-how-tinubu-got-floating-of-naira-fuel-subsidy-removal-wrong-kalu-aja\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/hardship-how-tinubu-got-floating-of-naira-fuel-subsidy-removal-wrong-kalu-aja\",\"name\":\"Hardship: How Tinubu got floating of Naira, fuel subsidy removal wrong \u2013 Kalu Aja - 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