Dr. Atedo Peterside, the founder of Stanbic IBTC Bank Plc, has urged individuals who objected to the elimination of the fuel subsidy in 2012 to petition former President Goodluck Jonathan for pardon.
Peterside said that the detractors have to apologize to Jonathan’s economic team, which included Dr. Ngozi Okonjo-Iweala, director-general of the World Trade Organization (WTO), and Labour Party presidential candidate Peter Obi.
Recall that on January 2, 2012, the Jonathan administration and then-opposition Peoples Democratic Party (PDP) started the statewide protests known as “Occupy Nigeria” in response to the elimination of subsidies.
The former president claimed that Nigeria would prosper economically if the subsidy on petroleum goods was eliminated, but despite his promises of palliatives, Nigerians rejected his plan.
Eleven years later, President Bola Ahmed Tinubu quickly stated that the fuel subsidy will be eliminated since the nation could no longer support it.
According to Tinubu, the current budget that former President Muhammadu Buhari gave him did not include funding for the gasoline subsidy.
The proclamation on May 29 has angered Nigerians as long lines have formed at gas stations and pump prices have increased around the nation, driving up the cost of food and transportation.
While some claimed there were no remedies to lessen the consequences, others believed the timing was incorrect because many believed fuel subsidies should be eliminated.
Peterside responded via a Twitter post on Sunday, claiming that the elimination of gasoline subsidies was challenging because many who opposed it in 2012 had since changed their minds.
The top investment banker and businessman added that Nigerians should beg the protesters from 2012 who organized the strike under Jonathan’s presidency.
“The petrol subsidy removal is complicated by the fact some liars who held sway in 2012 are now singing a different tune in 2023. They should apologise to @GEJonathan @PeterObi @NOIweala & others in the 2012 Economic Team & beg Nigerians for forgiveness so we can move forward,” Peterside wrote.
