Peter Agada, a presidential candidate representing the Young Progressives Party, has expressed disagreement with the strategy employed by President Bola Tinubu regarding the end of fuel subsidies. Although he supports the economic logic of the policy, Agada argues that the administration failed to implement it effectively.
During a discussion with media members on Thursday, Agada acknowledged that international financial bodies often mandate such economic reforms as a prerequisite for funding. He noted that developing essential sectors like infrastructure and agriculture requires foreign capital, which frequently comes with specific policy demands.
While confirming that he would have eventually phased out subsidies to satisfy global economic standards, Agada emphasized that his administration would have taken a more calculated path. He criticized the immediate, single-day removal of the subsidy, suggesting that a tiered rollout paired with robust social support programs would have protected citizens from the ensuing financial hardship.
Agada stated that his priority would have been to empower the public simultaneously as the subsidy decreased, comparing the shift to the proverb of teaching a person how to fish rather than providing them with the fish itself.
