Subsidy Palliative: Sharing 8k is completely a ‘town hall’ economics not different from balablu and hullabaloo – Rev. Fr. Chinenye Oluoma

Rev Fr Chinenye Oluoma, a renowned Nigerian Catholic priest, has offered advice to President Bola Tinubu, urging him to abandon the idea of distributing N8,000 to 12 million Nigerians. He considers this approach to be “a puerile, penny wise pound foolish economics.”

Instead, Oluoma suggests that Tinubu should utilize the funds to provide “palliative transportation” for the masses, including special groups like students and farmers, while also focusing on long-term plans.

The cleric shared his advice through a post on his verified Facebook page on Monday.

Furthermore, Oluoma, a staunch supporter of fuel subsidy removal due to the corrupt practices it fosters, firmly advocates for investing the subsidy funds in job-creating ventures such as transportation and agriculture, as he believes it is the most appropriate course of action.

He wrote, “I am a supporter of the removal of fuel subsidy for obvious reasons. Aside from the demonic corruption in it, which every government have been powerless to exorcise, investing the money from subsidy into job-creating ventures like transportation and agriculture is the most important justification for its removal.

“Make buses available for commuters at local government levels, make special trucks available for the transportation of farm produce, or better still, work with commercial farmers to identify their regular transporters and subsidize fuel or diesel for their haulage vehicles and ensure they don’t add a kobo to what they charge farmers and traders.

“These are the most feasible, simple and practicable short-term measure that makes sense. How could the government not see the futility and waste in sharing “peanuts” to people who will finish the money in less than a week?

“It’s not even the case that you can trust those who will share the money to do it honestly and equitably. The corruption in fuel subsidy is child play compared to the one in sharing 8k to 12 million Nigerians. Government should please perish that idea, it is a puerile, penny-wise pound foolish economics.

“President Tinubu should not entertain this idea at all, he should use that money and provide “palliative transportation” vehicles for the masses and special groups like students and farmers while working on long-term plans.

”Sharing 8k is completely a ‘town hall’ economics NOT different from balablu and hullabaloo.”