A policy and governance analyst, Rotimi Matthew has hailed the recent suspension of the 15 per cent import duty on premium motor spirit (PMS) otherwise known as Petrol as well as diesel, saying the President has chosen the people over what he called monopoly.
"You have shown that leadership is not about bowing to the loudest interests, but about standing with the most vulnerable. For this, Nigerians say thank you," he said.
He said the President's decision "breaks a pattern that has held the economy hostage for years."
Follow us on WhatsApp | LinkedIn for the latest headlines
He wrote in an article, advising the President to be wary of moves to bring back the tariff.
He said, "They want to persuade you to hand the entire fuel market to a single private refinery under the guise of "cost recovery". They want to convince you that Nigerians must pay through their noses today so one investor can break even tomorrow.
"Sir, analysts have asked a simple but critical question. What happens if this refinery, still unable to meet national demand at the moment, suddenly fails to deliver before the next election season? "What happens if maintenance issues arise? What happens if prices are increased without restraint? The entire burden will fall on your administration.
"Mr President, no country secures its future this way. Not when we do not even have confirmed local refining capacity of sixty percent, let alone eighty percent. Not when the only reliable alternative is importation. Not when policy mistakes can create nationwide scarcity overnight."
He described the Dangote refinery as a bold investment which he stated will succeed, adding, "It will make money. But it does not need to break even on the backs of the poor within one year. It is a generational project. Let it mature at a responsible pace. Let competition thrive.
"This is why your suspension of the tariff means so much. It is the first time a President has acknowledged the overwhelming political and economic influence of Africa's richest man and recognised where the real power lies.
"Sir, the people are counting on you. The economy is depending on you. Millions of households who have endured years of hardship are hoping you hold the line.
Nigeria cannot afford to be reduced to a company town. Not in our democracy. Not in this century. Not under your watch," he said.
Sign up for free AllAfrica Newsletters
Get the latest in African news delivered straight to your inbox
