A former presidential spokesperson, Doyin Okupe, says President Bola Tinubu has not disappointed Nigerians in his address to the nation on the nationwide protests on Sunday.
Mr Okupe, a former director-general of the Labour Party presidential campaign council, made this remark in an interview in Lagos, while reacting to the president’s broadcast.
“President Bola Tinubu’s speech has not disappointed Nigerians in that for the first time, the president clearly stated the daunting economic situation his administration met on ground at inception. He also amplified the strenuous efforts made by his government to reduce the prevailing crippling and stagnating debt servicing ratio from 97 per cent of earned revenue to 68 per cent.
“In truth, this has been the major cause of our present economic woes and sufferings. It is now self-evident that if the fuel subsidy was not removed, it would have been impossible for the government to function. And the government will not be able to meet its obligations, without continuing the profligacy of massive and sustained borrowing to fund the subsequent national budgets,” Mr Okupe said.
He talked about Mr Tinubu’s implementation and commitment of more than N45 billion to the students loan scheme and the raising of the national oil production capacity to more than 1.6 million barrels per day.
“It is pertinent that we recognise that the federal government revenue is shared with 49 per cent going to the federal government while approximately 48 per cent goes to the states and local governments leaving some three per cent for ecological funds and derivation,” Mr Okupe added.
(NAN)
