The former CBN governor said the disuse of oil subsidy by the administration of President Muhammadu Buhari was good riddance to bad rubbish adding that the step was long overdue.
“As a result of COVID-19 and because the economy has been brought to its knees, I think Nigeria has finally come around to being realistic. We were paying billions of dollars in so-called subsidy. It’s a big scam and it has been going on for 30 years.
“In the last few months, this government has started instituting certain reforms that if we continue along those lines, we will begin to see the light. Yes, the removal of fuel subsidy is one. The adjustment in electricity tariff is another,” he said.