Anybody Who Says We Should Remove Subsidy From An Underdeveloped Economy Like Nigeria Had F9 In Economics – Adebayo

The 2023 presidential candidate of the Social Democratic Party (SDP), Adewole Adebayo, has accused the government of President Bola Tinubu of mismanaging Nigeria’s economy.

According to him, some of the policies introduced by the Tinubu government are not fit for the Nigerian economy.

Speaking during an interview with Daily Post, Adebayo criticized some of the policies of the current administration, including the removal of petrol subsidies and the floatation of the naira, noting that it has brought more hardship to the citizens.

He also lamented that the planned increase in tax to be paid by citizens while the government is not fulfilling its own responsibilities is unacceptable.

The former SDP presidential candidate said what the Tinubu government is doing can be likened to squeezing the juice out of oranges.

“…So, don’t let us pretend that we don’t know that we have been captured and our brothers and sisters in government who captured us want to squeeze us like oranges and squeeze the juice out of us, and probably, discard us when there is nothing more. They want to remove economic participation.

“Perhaps you are right; that’s why they said recently that the rich may pay as much 25 percent on personal income tax…

“I, Adewole Adebayo, government, come and tax me. I am ready to pay 50 percent of my income in taxes. I don’t mind, after all, in Norway, it is higher than that. I am spending billion, literally, to power my productive enterprises. But, you cannot pauperise us, take all the taxes and still not be responsible for anything.

“Anybody who tells you that we should remove subsidy from an underdeveloped economy where productivity is low had F9 in economics,” Adebayo submitted.