Garba Shehu, a former spokesperson for ex-President Muhammadu Buhari, says that the past administration declined to take the brave step of eliminating subsidies on Premium Motor Spirit (PMS) because doing so would have jeopardised the chances of the ruling All Progressive Congress (APC) winning the 2023 general elections.

“Finally, we must be politically honest with ourselves. The Buhari administration, in its last days, could not have gone the whole way because the APC had an election to win. 

“And that would have been the case with any political party that was seeking election for another term with a new principal at its head.

“Poll after poll showed that the party would have been thrown out of office if the decision as envisaged by the new Petroleum Industry Act was made.

“With the election now behind us, a capable leader as we now have in place is best positioned to move forward. We have nothing but confidence that the new administration will carry the nation and all its constituents into a stable future in the aftermath of these major economic and financial decisions.

“As they say, there are times when you have to lose in order to win,” Mr Shehu said in a series of tweets on Monday.

Mr Shehu also listed several initiatives taken by the former president Buhari regime to lower the high cost of governance, such as the N60–100 billion annual fertiliser subsidy, which he described as a “budget-busting, egregious, and economic growth–stifling,” as well as other subsidies for diesel, aviation fuel, kerosene, and cooking gas.

Mr Shehu, who criticised the current APC leadership for being silent on Mr Buhari’s accomplishments, noted that former President Buhari has avoided responding to inquiries from across quarters about the elimination of the petrol subsidy to avoid distracting the current administration from the onerous tasks facing them and the nation.

“For those with short memories, many of those subsidies were all in place when President Buhari was elected to office in 2015: all those in place were gone by May 2023 – including the annual fertiliser subsidy that weighed 60-100 billion naira (that’s trillion naira in about 10 years – yes you read that right) heavy on the federal budget each year.

“So no, Buhari didn’t remove the petrol subsidy – but in vitally important stages he removed every other budget-busting, egregious, economic-growth-crushing subsidy along the way.

“So far I have refrained from answering these repeated questions on the removal in Nigeria of subsidies on Premium Motor Spirit, PMS and that arising from the dual rates of the naira in the Central Bank and the parallel market: Why did Buhari “fail” to do these?

“First of all, my thinking is that instead of the former President answering this question, it is the Party, the All ProgressivesCongress, APC that is best suited to speak and failing to do this, we are forced to say what will follow here.

“Secondly, we are mindful of the fact that with a Tinubu/Shettima presidency now in place and for which there is a “New Sheriff in Town.”

“We do not want to distract them from the onerous tasks facing them and the nation. Neither is it our wish to take the spotlight away from them in any way,” he said.

Mr Tinubu had, during his inaugural speech on May 29, directed the removal of subsidy, which had drained billions of dollars from the country’s economy.

While Mr Shehu praised the Tinubu/Shettima presidency for their decisive steps in the removal of petrol subsidy and the dual rates of the naira in the Central Bank and the parallel market, he said the decision was not for the President to take all by himself.

He said the removal of subsidies for Petrol and naira was an effort by the Buhari administration from the very beginning in 2015 but was put on hold because it came at a time when tensions were high in the country.

He also cited the Petroleum Industry Act which was signed by Mr Buhari as an instrument removing the petrol subsidy.

“Removing subsidies for the naira and PMS was cued and put on hold. Look, for example, the Petroleum Industry Act. The important decision was kept for a better time.

“It could not have come at a time when tensions were high in the country and no responsible leader would have added fuel to the fire.

“In the view of many-including those in the security circles- only a new administration with goodwill that fills a warehouse can attempt this, and here now comes the wit and grit of the Tinubu government.”