Nasir El-Rufai, the governor of Kaduna State, has stated that fixing the fuel subsidy and foreign exchange problems could prevent Nigeria’s next president from being re-elected.
Despite this, the governor argued that the nation needs a leader who could go beyond personal gain and make difficult but essential decisions to secure the country’s economic growth.
El-Rufai stated this at a panel discussion on Thursday in Abuja during the introduction of the World Bank’s Nigeria Development Update and Country Economic Memorandum.
He claims that if the correct policies and choices are made, Nigeria would stop using the word “potential” and will eventually become the nation we all deserve.
In response to inquiries about the elimination of fuel subsidies, the governor stated that the next president of Nigeria “must be willing to do just one term if necessary but reverse this trend.”
“I believe that in order to reverse this trajectory, Nigeria’s next president must be prepared to make very difficult decisions quickly and under extreme pressure. These decisions may cause the nation to suffer for three to five years. Being a part of the Obasanjo government throughout that decade of expansion makes me proud. We were part of that government and were aware of our responsibilities.
“We understand what President Obasanjo was required to do. If only one term is required, the future president of Nigeria must be prepared to buck the trend. There is agreement. If the private sector accounts for 95% of jobs, then the private sector also accounts for 90% of GDP.
These actions are required, and the private sector concurs. All of these items must be done, according to the state governments. The two huge elephants are the currency rate and the gasoline subsidies, and the private sector and the foreign-born are the ones who pay the price.
“We reached a consensus. The consequences might not become apparent for three to five years, so what we need is a president ready to risk his or her political future and spend the political capital necessary to permanently change the course of our nation.