The assumption of power by any leader brings with it great expectations and hope for positive change. However, in the case of Bola Ahmed Tinubu’s first day as President of Nigeria was marred by a thoughtless announcement that sent shockwaves through the nation. The careless revelation regarding the future of fuel subsidies showcased a lack of strategic planning and foresight, leaving citizens questioning his ability to lead effectively. In his inaugural speech after being sworn in, President Tinubu addressed the nation with an irrelevant announcement that sent shockwaves through the country. He declared his intention to remove fuel subsidies, which have been budgeted to be removed for June 30th, 2023, by the Buhari administration, which led to an immediate, crazy increase in fuel prices 30 days before fuel subsidies should be removed. This sudden and poorly communicated decision caught citizens and stakeholders off guard, leaving them bewildered and frustrated. The lack of prior consultation or a well-thought-out implementation plan demonstrated a disregard for the consequences this would have on the already burdened populace.
The careless and irrelevant announcement of fuel subsidy removal without loud emphasis on Cushioning measures plunged the nation into personal and collective economic turmoil. Overnight, transportation costs skyrocketed, leading to an increase in the price of essential goods and services. This burden will be felt by all segments of society, exacerbating already existing income inequality. The sudden rise in fuel prices had a cascading effect on various sectors, leading to higher inflation and stifling the already stagnant economy.
Tinubu’s ill-advised and irrelevant announcement on fuel subsidies will not only have economic and social implications but also have severe political consequences for an already unpopular president (37% election win). The move has been seen as a breach of trust by all those who swore him to be a genius administrator. The debacle surrounding Tinubu’s first-day announcement serves as a valuable lesson for leaders in positions of power. It highlights the importance of strategic planning, proper consultation, and effective communication when communicating with people. Tinubu’s first day as President of Nigeria will forever be marked by his careless and irrelevant announcement on fuel subsidy removal. The incident showcased a lack of foresight, strategic planning, and empathy for the citizens. We hope this will not be a sign of things to come. The economic, social, and health repercussions must serve as a wake-up call for this new administration to reassess its approach and prioritise the mental health and welfare of the Nigerian people.