Even though Tinubu intentions were good governance, I am not sure if he saw this economic calamity ahead or study how removing the oil subsidy affects everything in Nigeria. Removal of oil subsidy was a rush and miscalculated job.
I wonder if there are economists who understand the complexities of the Nigeria economy on Tinubu's administration. Such economists should have advised the President on what to do and suggested a partial removal . A partial removal of fuel subsidy should have been suggested to the President because of inflation and the current state of Nigeria economy. Because the removal was sudden and oil affects everything in Nigeria. The price of petrol doubled over night. Many Nigerians are leaving their cars and opting to walk. Soon a bicycle will be more useful than a car if Tinubu does not address the issues on ground.
The higher the cost of oil, the more food prices keep going up. 8000 naira is barely enough to upset the removal of fuel subsidy. 50000 naira will have been a more reasonable offer.
The naira to dollar is still going higher since Tinubi took office. The fuel subsidy removal is meant to lower the rate and the currency can go be at a stable rate. When the naira lose value, business are affected negatively.
What the President need to do is a make oil affordable for the average Nigerians.