Former Minister of Education, Dr. Obiageli Ezekwesili, has described the removal of fuel subsidy by the administration of President Bola Tinubu as a necessary reform that was poorly implemented, leaving Nigerians to grapple with its unintended consequences.
Ezekwesili made the remarks on Monday while speaking at the ongoing Nigerian Bar Association (NBA) Annual Conference held at the International Conference Centre in Enugu.
According to the former World Bank Vice President, while subsidy removal was an important step toward economic restructuring, the lack of adequate preparation and cushioning measures worsened inflationary pressures and deepened hardship among ordinary citizens.
“It is possible to implement the right policy in the wrong way. When that happens, the results can be counterproductive,” she said. “The fuel subsidy removal was a good reform, but it was not properly prepared for. Inflation is punishing the populace, especially the poor.”
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Ezekwesili emphasized that reforms must be carefully sequenced, strategically communicated, and designed with mechanisms to protect vulnerable groups from immediate shocks. She faulted the manner in which the policy was announced, arguing that its sudden rollout plunged many households into financial distress.
Her comments followed an earlier presentation at the conference by the Minister of Interior, Olubunmi Tunji-Ojo, who underscored the importance of research and production as a foundation for Nigeria’s future prosperity, citing China’s massive investments in research and development as a model.
Ezekwesili, however, maintained that beyond research and reforms, policymakers must prioritize citizens’ welfare, ensuring that economic transitions do not disproportionately hurt those at the bottom of the social ladder.