In a recent interview on Channels Television, Femi Falana, a renowned human rights lawyer and Senior Advocate of Nigeria, expressed his concerns about the Federal Government’s N5 billion fuel subsidy removal palliatives. Falana believes that these measures are both diversionary and wasteful.
Falana pointed out that the true underlying issue lies in the dollarization of the country’s economy. He urged Asiwaju Bola Ahmed Tinubu, the national leader of the All Progressives Congress (APC), to address this root cause instead of implementing temporary interventions. Falana criticized the Central Bank of Nigeria for floating the Naira at the foreign market, stating that this decision is problematic.
The human rights lawyer emphasized that these interventions often serve as mere short-term solutions, diverting attention from the major problem at hand – the dollarization of the economy. He contends that a more sustainable approach is needed to address the challenges facing Nigeria.
It is worth noting that Governor Babagana Zulum of Borno State recently revealed that N5 billion had been disbursed to the 36 states and the Federal Capital Territory during the Thursday National Economic Council meeting.
