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“I have to apologise for supporting the removal of the PMS subsidy by President Bola Ahmed Tinubu. The policy is right; removal of the PMS subsidy is a revenue event.
“My assumption and hope were that removing the PMS subsidy would free up fiscal resources to rebuild Nigeria’s infrastructure and educate the millions of children roaming the streets.
“Based on the results of the first half of 2025, that hope will not be realised with this administration at the current spending trajectory.
“President Bola Tinubu is borrowing and spending far in excess of revenues, but not on infrastructure; he is slowly sinking into a debt trap”-
Economist Kalu Aja apologises to Nigerians for initially supporting the removal of fuel subsidy by President Bola Ahmed Tinubu.
SB E-news.
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