Subsidy Removal and Naira Float: Should Supporters Reconsider Their Position?

I saw a former strong supporter of subsidy removal admit that the abrupt policy, alongside the naira float, has not delivered the expected benefits. This is not surprising to me. Implementing both measures at once has deepened hardship and pushed up the cost of living. I have always argued that subsidy reform should be gradual. Nigeria also needs safeguards against external shocks rather than leaving the naira fully exposed. Many countries manage their currencies with policies designed to protect their economies. The debate should go beyond admitting mistakes. Nigerians need economic policies that reduce poverty, protect access to electricity, healthcare and education, and avoid placing the full burden of reform on ordinary citizens. We must question whether international financial prescriptions truly fit Nigeria's realities.

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