By Ochiaka Ugwu
Former Minister of Finance, Mr. Shamsudeen Usman said government policies should be about producing results and delivery for the good of the people.
Usman who stated this in Abuja Thursday at the 21st Daily Trust Dialogue with the theme: Tinubu’s Economic Reforms: Gainers and Losers, noted that “average Nigerians” were losers of fuel subsidy before its removal in May last year by President Bola Tinubu.
“When we are rolling out policy, the most important thing should be result and delivery to the people. We must always focus on the results and delivery that will impact on the people”.
Usman said that fuel subsidy removal and Exchange Rate depreciation had greatly impacted on the economy thereby leading to inflation which affects the poor.
He said, “How we spent revenues saved from fuel subsidy removal would be determine who the gainers and losers of the economy are”.
“How do you determine losers and winners” What process do you use to know? We must focus on results and delivery. It is the determinant. Tinubu is moving right and have put a lot in place”.
Usuman also said that it was too early for Nigerians to start assessing the economic reorganization being put in place by the President Tinubu’s administration.
Continuing, he noted that immediately after the subsidy removal, average Nigerians became winners.
He said, “I don’t know the reason behind the choice of the topic, particularly the emphasis on gainers and losers. Before the removal of fuel subsidy, the importers of petroleum products were the winners.
“Immediately after the removal, the winners were the average Nigerians and the losers were the importers and members of the fuel syndicate. But can we point out the winners now given the inflationary trend?” he said.
Also speaking, Chairman of Board of Directors, Media Trust Group, Malam Kabiru A. Yusuf in his welcome address said the economy has become more vulnerable than resilient.
He informed that the former President Buhari team, by most economic measures left things worse that they met them lamenting that Nigeria had become a nation that lives on hope without its leadership doing much to actualize it.
Nigeria Labour Congress (NLC) President, Comrade Joe Ajaero said the real losers were the ordinary Nigerians who toil daily for their wellbeing.
Ajaero said the nation had no concrete economic policy, but now runs subsidy and palliative economy which cannot bring better reform.
