Omokri Lists Risks of Fuel Subsidy Return in Nigeria

Former presidential aide and activist Reno Omokri has issued a warning against the potential restoration of Nigeria's fuel subsidy, stating that it would unravel significant economic gains. Omokri outlined ten areas that would be adversely affected, including the regular payment of civil servants' salaries and the NELFUND student loan scheme.

He indicated that universities could face disruptions due to insufficient government funding for the Academic Staff Union of Universities (ASUU), threatening the academic calendar's stability. Economically, he noted that Nigeria's foreign reserves of $52 billion and the naira's relative stability would be at risk.

Additionally, he mentioned that growth in refinery and major infrastructure projects, such as the Lagos-Calabar Coastal Highway and the Eastern Railway Corridor, would stall. Omokri warned that recent military salary increases and the planned expansion of the Nigerian Army would be reversed, exacerbating insecurity due to a lack of funding for military rearmament.

He urged Nigerians to trust President Tinubu's economic management, citing a $67 billion GDP growth over two years.