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Subsidy Removal- A Right Policy At The Wrong Time - Politics - Nairaland

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Subsidy Removal- A Right Policy At The Wrong Time by Datedoboy: 5:06pm On Jun 05, 2023
In removing subsidy, Nigeria breaks a new record as the first country where its citizens spends more than the minimum wage on transport cost in most cases.

If you live in a city where most people earn 30k
and less, and you spend N2000 minimum daily for transport, that's the equivalent of spending over the minimum wage on transport alone.

I don't want to use any western country as an example. Let's compare our progress with South Africa or Egypt.

In south Africa, the minimum wage is ZAR7000
Cost of fuel per litre is around ZAR23. If you buy 2 litres of fuel daily, you will spend ZAR 920 in a month within 20 days which is not up to 15% of the minimum wage.
In Nigeria an OIL country, if you buy 2 litres daily at NGN500 per litre, or spend a minimum of NGN1,000 daily in 20days a month, you will spend over 66% of your salary buying fuel if you earn around the minimum wage.

In my opinion, there is no country in the world where it gets this high in terms of percentage for a non oil producing country not to talk of an oil rich nation.

The effects of this policy are job loss, more hopelessness for the youths, increased migration, and increase in sharp practices .

Those who brought and support this policy should tell Nigerians how to spend NGN30k to 50k salary on transport, feeding and rent going to work especially in areas like Lagos and Abuja.

Don't think because you earn well or are in Government you are not bothered or don't care because you can afford it. Be human and think of others.
We fail to realize life is veeery short at least let's make others enjoy this little life God has given them.

No policy have made Nigerians smile since 2015. After people survived Naira redesign, then this shows up. How many more life threatening policies are there to come?

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