Femi Falana, a popular Human rights lawyer and Senior Advocate of Nigeria has said the Federal Government’s N5 billion fuel subsidy removal palliatives are diversionary and a waste.
According to him, Tinubu should address the root cause: the dollarization of the country’s economy.
He lamented that the Central Bank of Nigeria was wrong to have floated the Naira at the foreign market.
“The majority of the interventions we’re witnessing are short-term and sometimes even serve as distractions from the primary concern, which is the dollarisation of the economy,” Falana asserted. He stressed the importance of tackling the structural issues that have led to the country’s heavy reliance on the US dollar.
This critique comes in the wake of the revelation made by Governor Babagana Zulum of Borno State that a sum of ₦5 billion had been disbursed to all 36 states and the Federal Capital Territory as part of the fuel subsidy removal palliatives. The announcement followed the National Economic Council meeting held yesterday, where the disbursement decision was reached.