APC and Bola Tinubu would have lost the election- former president Buhari

The All Progressives Congress (APC) and Bola Tinubu would have lost the election, the former president Muhammadu Buhari claimed in a statement released yesterday regarding the “challenge” he left for his successor to remove fuel subsidies.

However, Buhari applauded actions taken by the new administration in removing the subsidy and trying to harmonize the naira exchange rate, that action was a fulfillment of his administration policy “I delayed removal of petrol subsidy for Tinubu, APC to win election”, in a statement made through his former spokesman, Garba Shehu.

Buhari illustrated his statement with an adage, “There are times when you have to lose in order to win”

Shehu claimed that the assertion was made in response to criticism from some individuals who questioned why it took Tinubu only a few weeks to end the subsidy while Buhari took years.

He claimed that if the Petroleum Industry Act, which removed the gasoline subsidy, had been put into effect earlier, the ruling party would have lost the 2023 election.

Shehu asked: “Why did it take the new Tinubu/Shettima presidency weeks to remove the petrol subsidy, when Buhari didn’t do so for years,” in a statement titled “Buhari Didn’t Fail to Remove Subsidy.”

The massive electricity subsidy, the fraudulent fertiliser subsidy, the Hajj/Christian pilgrim subsidies, the diesel subsidy, the aviation fuel subsidy, the LPFO, kerosene, cooking gas, and the other subsidy policies we found in place and put them firmly on the ground?

For those who have short memories, many of these subsidies were already in place when President Buhari was elected to office in 2015; all of them were eliminated by May 2023, including the annual fertiliser subsidy that weighed N60–N100 billion (that’s a trillion naira in about 10 years, yes, you read that right) heavily on the federal budget each year.

“So, Buhari didn’t get rid of the fuel subsidy, but he did remove every other outrageous, budget-busting subsidy that was in the way along the way.

The question of why Buhari “failed” to remove PMS subsidies in Nigeria and the question that resulted from the naira’s dual rates in the Central Bank and the parallel market has been asked repeatedly, and I have so far refrained from responding.

“First off, in my opinion, the party, the APC, would be better suited to respond to this question than the former President. In the event that we fail to do this, we are compelled to state what follows.

“Secondly, we are aware that with a Tinubu/Shettima presidency now in place and a “new sheriff in town,” we do not want to divert them from the difficult tasks that they and the country must complete. Furthermore, we have no desire to diminish their importance in any way.

“The Tinubu/Shettima administration has done overwhelmingly well in terms of the timing of the decisions to remove fuel subsidies and unify the currency. What’s more, by averting any crises, they have demonstrated exceptional skill in handling the decisions’ consequences.

To this end, we hope and pray that our countrymen will continue to support the new leadership in making these admirable decisions, especially that the labor leadership and civil society will collaborate with them to make sure that the palliative efforts, as promised, are successfully carried out.

As in our case, and as we believe in all circumstances, the President did not have sole authority to decide whether to eliminate subsidies.

“That’s why it’s critical to remind ourselves – and all those who have conveniently forgotten – that the Buhari administration had been on this pathway from the very beginning in 2015.

“Cued and put on hold, the removal of subsidies for the naira and PMS. Consider the Petroleum Industry Act, for instance. The significant choice was postponed until later. No responsible leader would have done so at a time when nationwide tensions were high and it was impossible for it to happen.

“In the opinion of many, including those in the security circles, only a new administration with a surplus of goodwill can attempt this, and this is where the Tinubu administration’s wit and tenacity come into play.

The last thing we need to do is be politically honest with ourselves. In its final days, the Buhari administration was unable to complete its mission because the APC needed to win an election. And that would have been the case for any political party running for reelection with a new leader in place.

According to poll after poll, the party would have been removed from office if the decision as envisioned by the new Petroleum Industry Act had been made.

“Now that the election is over, we are in the best possible position to move forward with a capable leader in a place like we currently have. We have every reason to believe that, in the wake of these crucial economic and financial decisions, the new administration will lead the country and all of its constituents into a stable future.