Former governor of Rivers State, Rotimi Amaechi, has declared that the last time Nigeria had a middle class was during the presidency of Chief Olusegun Obasanjo.
The former Minister of Transportation from 2015 to 2022 under the administration of President Muhammadu Buhari also lamented growing gap between the rich and poor in the country.
Amaechi spoke during a recent Speaking during a two-day event with the theme “Strengthening Nigeria’s Democracy: Pathway to Good Governance and Political Integrity.”
Amaechi described the absence of a functional middle class as a critical challenge, noting that people are feeling the harsh impacts of the removal of fuel subsidy by the President Bola Tinubu administration.
“The last time we had the middle class was under President Olusegun Obasanjo. He created an economy that generated jobs.
“Even though some argued it was a shaky middle class that disappeared at the end of every month when salaries were paid, at least we had a middle class.
“Now, it is either you are rich or you are poor. If social housing and investments in agriculture had been implemented alongside subsidy removal, people would not feel the impact as harshly as they do now,” he said.
Amaechi also stated that he would have handled the removal of the fuel subsidy differently if he had been elected president.
He acknowledged that the removal of fuel subsidy was unavoidable for any president, but questioned the timing and preparedness of Tinubu’s government.
The former governor of Rivers State also emphasised the need for social housing and job creation as cushioning measures.
He stated that when his wife and children asked him what he would have done differently about removing fuel subsidy, he told them that he would not remove it without social housing.
“There is nobody that would have become president that would not have removed the subsidy. What I don’t know is what time was appropriate for the removal. How prepared was the Tinubu government when he announced the removal?
“My wife and children asked me what I would have done differently. My response was this: I would remove the subsidy, but I would not remove it without social housing. Why?
“With the money saved from subsidy removal and Naira devaluation, it could be used to build between 200,000 and 300,000 houses,” he said.
Amaechi explained that such a policy would not only address the housing deficit, but also create jobs across various sectors.
“If you build between 200,000 and 300,000 houses in the states, how many jobs have you created? At least, 300,000 bricklayers, 300,000 carpenters and 300,000 plumbers. By the time you do those things, what have you done? You have put money in the hands of the people,” he stated.
Amaechi stressed that the government’s use of funds saved from subsidy removal should focus on tangible projects that will directly improve the lives of the citizens and provide economic opportunities.
