The Leader of the Senate, Senator Opeyemi Bamidele, has outlined the key challenges faced by President Bola Tinubu’s administration during the first 18 months, with a particular focus on the controversial removal of the fuel subsidy.
Bamidele, who represents Ekiti Central in the Senate, stated that the primary difficulty the President encountered came not from ordinary Nigerians, but from those who had benefitted from the subsidy—many of whom, he claims, were part of a powerful cabal.
These individuals, according to Bamidele, sought to undermine the administration for their own personal gain, making it harder for the government to govern effectively.
The lawmaker shared his views in a statement released by his Directorate of Media and Public Affairs on Monday.
Bamidele clarified that the beneficiaries of the fuel subsidy were not the general public, but rather a select group of individuals who had easy access to the subsidy.
He strongly emphasised that these individuals had exploited the scheme under the guise of helping the masses, who he claimed never truly benefited from it.
“It was not the common men and women of this country who were benefiting from the fuel subsidy,” Bamidele said.
“It was members of the cabal who had access to it, and they were the ones taking away this privilege on behalf of the masses. And the masses did not benefit from it.”
The Senate leader further explained that the removal of the subsidy was a decision aligned with an agreement made by the 9th National Assembly.
According to Bamidele, the subsidy was no longer sustainable and had to be phased out in the interest of the country.
“I am convinced that the President did the right thing by removing the fuel subsidy,” he said.
“The 9th National Assembly had already made provisions for its removal by May 2023. The removal was inevitable, and the President merely acted in line with the policy direction that had been agreed upon before his inauguration.”
Bamidele also clarified that the National Assembly had only allocated funds for the subsidy until May 2023. Therefore, even if President Tinubu had not announced its removal, the subsidy would have ended shortly after his inauguration.
“The National Assembly made provision for the fuel subsidy until May 2023. Whether or not President Tinubu mentioned it, the subsidy would have ended shortly after his inauguration. The funding simply wasn’t there,” he explained.
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The Senator added that continuing the subsidy would have put the country in a fiscal crisis, leading to cuts in essential transfers to sub-national governments.
“Retaining the subsidy would have plunged the country into a fiscal crisis. The funds were simply unsustainable, and the country would have suffered far worse consequences,” he stated.
Bamidele also expressed confidence that the 2025 Appropriation Act would effectively address Nigeria’s socio-economic challenges, not just at the national level, but also at state and local levels. He pointed out that while the increased statutory transfers to sub-national governments often went unnoticed, they were vital to fostering development across the country.
He also stressed that the government had shifted its budgetary priorities, allocating less to recurrent expenditure and more to capital expenditure. This, he suggested, marked a significant departure from previous practices and would result in more sustainable public spending.
“What is important now is to focus on the 2025 budget,” he said. “Does it prioritise the welfare of the people? Does it address critical sectors like education, healthcare, and agriculture? Compared to previous years, the federal government is now spending less on consumables and focusing more on capital expenditure, which is a significant shift.”
Furthermore, Bamidele commended President Tinubu for his decision not to lay off public sector workers, despite the economic challenges. He argued that such a move would have exacerbated the country’s problems, especially given the ongoing security challenges that had disrupted agricultural activities.
He expressed optimism about the improving security situation, highlighting that many internally displaced persons (IDPs) were gradually returning to their homes and farmers were resuming their work.
“The security situation is fast improving across the country. People are starting to return to their farms, and things are steadily getting better,” he said. “We are gradually coming out of the bad situation we’ve been in.”
Concluding his statement, Bamidele reiterated that the measures taken by the government, including the removal of the fuel subsidy, were necessary to stabilise the economy and put Nigeria on a path of recovery. He encouraged the public to focus on the long-term benefits of these policies and the broader picture of national and sub-national development.
“Retrenching workers is not an option before this administration. It would cause even more problems for the country,” he added. “The steps we are taking are necessary to stabilise the economy and restore the country to growth.”
With these assertions, Senator Bamidele offered a robust defence of the government’s actions, affirming that President Tinubu’s policies were in line with the country’s long-term interests despite the challenges Nigeria continues to face.
