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FUEL SUBSIDY AND PRICE CONTROL- SOLUTION TO ECONOMIC HARDSHIP IN NIGERIA
FUEL SUBSIDY AND PRICE CONTROL- SOLUTION TO ECONOMIC HARDSHIP IN NIGERIA
By: Victor Emejuiwe
No sane government should watch its citizens suffer untold hardship and live in poverty. The primary responsibility of government is to protect the life’s and to secure the welfare of the people. President Ahmed Bola Tinubu spontaneously announced the removal of fuel subsidy on the day of its inauguration without considering the attendant consequences of such a decision. In fairness to the removal, the amount of money claimed to be payment of subsidy in Nigeria was quite humongous from N300 billion during the Good Luck Jonathan administration in 2012, to N2.7 trillion in 2022. However, beyond the doubt as to the authenticity of the real value paid on subsidy, the secrecy and corruption associated with the entire subsidy regime was very un-palatable. It was as a result of this, that many Nigerians canvassed for the removal of subsidy. Nevertheless, there are some other school of thought who believes that the government was not sincere on its own part due to the lack of transparency and accountability in petrol consumption and subsidy payment. Also, even where several reports indicting subsidy saboteurs were released, the federal government did nothing to investigate and prosecute those who were accused of corruptly enriching themselves from the subsidy payments. Therefore, the payment of subsidy on its own was not the problem but the willingness of government to come clean with its transaction on subsidy payment and muster the political will to pervert corruption amongst the stakeholders was the major problem. The view on re-introduction of subsidy becomes necessary given the fact that payment of subsidy is a common global practice by governments all over the world. It is taken to ameliorate hardship faced by majority of citizens in the purchase of very expensive commodities. In this case, Nigeria being a mono-economy driven by sales of crude oil, has made the price of every other commodities reflective in the rise or fall in the price of crude oil. The subsidy regime cushioned a lot of hardship amongst Nigerian in the past and with its removal today, Nigerians have not been able to recover from the effect, as we can witness the continuous increase in the prices of all commodities in Nigeria. Most workers do not report to work on a daily basis, some business closed shops and the general standard of living has reduced. Couple with this fact, is government inactiveness in controlling the hike in the prices of locally produced commodities. The lack of a price stabilization and mechanization control which was hitherto implemented in the 70’s have made it possible for middle men to determine the prices of commodities in the market. The practice of the middle men is to acquire these goods from the dealers and hoard them so as to create scarcity and speculate a market price before they sell, with wide profit margin. If government enforce the price control Act as ordered recently by the federal high court on goods and commodities that are locally produced in Nigeria, the hoarders and speculators would run out of business and food items and other commodities would be available at the normal rate. The lack of a price control mechanism is what led to the failure of most government policies on agriculture. It is so unfortunate that the past government of President Muhammed Buhari, made efforts to encourage local production of food commodities such as rice and even provided subsidies to farmers to embark on local rice production, but instead of having the price of rice reduced, it rather led to more than 200 percent increase in the price of rice. Rice which was sold for N9600 before the ban on imported rice, skyrocket to N19,800, at a point, it rose to N36,000 and the government could not do anything to stop the hike. Under this present administration, a bag of rice sells for N77,000. It is an anomaly for government to provide incentives to local producers of commodities and at the same time, do not have control of the market price.
In light of the above, in the interim, the Federal Government should re-introduce subsidy on petrol and diesel under a more transparent regime and deal with saboteurs who divert the products to other countries and in the long run, the Federal government should get our refineries working at optimum capacity so that any attempt to remove subsidy on petrol and diesel will not have much impact on the price on petrol. Also, a list of commodities and items produced locally should be established and the market price should be determined under a price control, stabilization and mechanization regime. The government should enforce the laws and policy on price control. Finally, for resource mobilization, the government should stop oil theft so that more resources can be generated from crude oil and this would help us pay for the subsidy on petrol and also pay for the functionality of our refineries.
*Victor Emejuiwe
Monitoring and Evaluation/Strategic Communication Manager
Centre for Social Justice.
Abuja
08068262366
FUEL SUBSIDY AND PRICE CONTROL- SOLUTION TO ECONOMIC HARDSHIP IN NIGERIA
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PRESIDENT TINUBU AT ABUJA CARNIVAL LAUNCH: Creative Economy A Cornerstone Of My Diversification Agenda
PRESIDENT TINUBU AT ABUJA CARNIVAL LAUNCH: Creative Economy A Cornerstone Of My Diversification Agenda
*** Says industry now a major contributor to Nigeria’s non-oil GDP growth
By: Our Reporter
President Bola Ahmed Tinubu yesterday identified the creative economy as a cornerstone of his administration’s economic diversification agenda.
He also reaffirmed his administration’s commitment to positioning Nigeria’s creative sector as key driver of Nigeria’s global influence.
The President stated this during the launch of the 2024 Abuja International Carnival at Eagle Square, Abuja.
President Tinubu who was represented by his deputy, Vice President Kashim Shettima, said, “We are not here just to celebrate a carnival but to reaffirm the essence of who we are as Nigerians—a people of culture, a people of art, a people of colour, and a people of shared values.”
The President reaffirmed the carnival’s role in strengthening Nigeria’s position in the global creative economy.
“Our creativity continues to shine on the global stage, drawing admiration and respect. This heritage is the truest measure of what it means to be Nigerian—proud, resourceful, and innovative,” he stated.
Under the theme, “Carnival of Renewed Hope: A Pledge to My Country,” the event showcased performances from across Nigeria and beyond, demonstrating the administration’s commitment to cultural diplomacy.
“The unifying power of art and culture on display here is a reflection of what we can achieve when we work together,” President Tinubu said.
The President emphasised the carnival’s economic impact, noting that Nigeria’s creative industries are already contributing significantly to the nation’s GDP.
“Over the years, this carnival has become a stage for showcasing our rich cultural heritage and a driving force behind our growing creative economy. It has revitalised local industries, fostered cultural diplomacy, and contributed immensely to Nigeria’s position as a cultural powerhouse on the global stage.”
Addressing international participants, Tinubu reinforced Nigeria’s commitment to cultural exchange, just as he said, “Their presence affirms that culture transcends boundaries, and it is through cultural exchange that we build bridges of understanding, friendship, and shared humanity. In this carnival, we offer not just a spectacle but a home away from home for our guests.”
The President called for deeper reflection on the event’s significance, noting that it is more than mere celebration: “A carnival of this scale is not merely an occasion for festivities; it is a call to action. It reminds us of the pledge we owe to our nation: to promote peace, preserve our unity, and contribute, in whatever way we can, to the Nigeria of our dreams.”
The Federal Ministry of Art, Culture, and the Creative Economy, working alongside the Federal Capital Territory Administration and the Abuja International Carnival Secretariat, also received presidential commendation for their role in organizing the event.
President Tinubu praised their “dedication and vision in making the carnival a source of pride for our nation.”
“Our diversity is not just a mark of identity but a powerful force that strengthens our unity and inspires us to dream bigger for our country,” he added.
Earlier in his opening remarks, the Minister of Art, Culture, Tourism, and Creative Economy, Barr. Hannatu Musawa explained that the carnival is a brand that binds Nigerians together and promotes the nation’s beauty and strength in diversity.
The Minister who was represented by the Acting Permanent Secretary in the Ministry, Mr. Oraelumo Obi Raphael, said, “The Carnival is a unique brand that involves the 36 states and the FCT, and countries from all over the world, with Federal Ministry of Arts, Culture, and the Creative Economy as the Coordinating Ministry and the FCT as the host.
“The unique aspect of Abuja Carnival is the fact that it is a platform for artistic expression, innovation, and cultural exchange among local and international participants and the activities are highly competitive, which has given Nigerians the platform to develop and showcase their creative ingenuity as a tool for harnessing the power of culture and strengthening our nation’s bond to foster a brighter future.”
For the FCT Minister, Barr. Nyesom Wike, who was represented by the Director, Social Welfare in the FCTA, the theme of this year’s carnival, “Carnival of Renewed Hope: A Pledge to My Country,” is a call to action, a reminder and a promise, noting that it does not just celebrate the nation’s vibrant culture but also the spirit of resilience and hope that define Nigeria.
He said, ” As we gather here, adorned in the colours, sounds, and expressions of our diverse heritage, we are also united by a shared vision for Nigeria, a vision rooted in the Renewed Hope Agenda of Mr. President, Bola Ahmed Tinubu, of hope, renewal, and the commitment to work together toward a brighter future.
“The Abuja International Carnival is a testament to the power of culture in binding us together. It serves as a bridge, connecting generations, ethnicities, and regions across Nigeria.”
PRESIDENT TINUBU AT ABUJA CARNIVAL LAUNCH: Creative Economy A Cornerstone Of My Diversification Agenda
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Collective Efforts Needed to Build a Secure Nigeria – General Buratai
Collective Efforts Needed to Build a Secure Nigeria – General Buratai
By: Our Reporter
Former Chief of Army Staff and former Nigerian Ambassador to the Republic of Benin, Lieutenant General Tukur Yusufu Buratai, CFR, has called for collective efforts and unity to build a secured Nigeria.
General Buratai gave the remarks Saturday, while being inducted as the 2nd Patron of the Institute of Security, Nigeria, at the 17th International Security Conference.
The event, held at the Faculty of Social Sciences Auditorium, University of Lagos, brought together top security experts, academics, and stakeholders to discuss the most pressing security issues facing Nigeria.
General Buratai, emphasized the importance of security education, training, and excellence. He pledged to support the Institute’s initiatives and programs, advocate for policy reforms, and improve security in the country and the world.
“Security education, training, and excellence are at the forefront of our shared vision. We aim to strengthen the capacity of security and law enforcement agencies, ensuring they deliver exceptional services,” General Buratai said.
He also emphasized the need for collective efforts to build a secure Nigeria where citizens can live without fear and prosperity thrives. “Let us unite to build a secure Nigeria where citizens live without fear and prosperity thrives,” General Buratai added.
Performing the investiture, General Olu Bajowa, the 1st Patron of the Institute, praised General Buratai’s exceptional leadership and dedication to Nigeria’s security, setting the tone for a thought-provoking conference that emphasized the need for collective efforts to build a secure Nigeria.
General Bajowa described him as an outstanding Nigerian who embodies courage, determination, and patriotism.
“General Buratai has demonstrated unwavering commitment to the security and well-being of our great nation. He is a distinguished military officer with over 40 years of service to the Nigerian Army,” General Bajowa said.
General Bajowa praised General Buratai’s wealth of experience and expertise, which will undoubtedly inspire and motivate the institute’s members to strive for excellence in security education and practice. He highlighted General Buratai’s distinguished military career, spanning over 40 years, including his tenure as Chief of Army Staff from 2015 to 2021.
“Throughout his illustrious career, General Buratai has embodied the values of courage, integrity, and loyalty. His dedication to the Nigerian Army and the nation is unparalleled, and his contributions to the fight against insurgency and terrorism have been invaluable,” General Bajowa added.
In his remarks, Professor Rahman Bello, Chairman of the occasion, emphasized the need for Nigeria to adopt a more inward-looking approach to development. He advocated for prioritizing domestic development, focusing on areas of comparative advantage, such as agriculture, and developing smallholder peasant agricultural production.
“For Nigeria to develop, the government must adopt a more inward-looking approach. Every country that intends to develop must, at some point, focus on its internal capacities,” Professor Bello said.
Lieutenant General Lamidi Adeosun Rtd., former Chief of Policy and Plans Nigerian Army, stressed the importance of security education, highlighting the need to carry education down to the grassroots. He emphasized that local government empowerment is crucial in addressing security challenges.
“Security education must start from the grassroots. It is a key aspect of our development. We must take security education down to the grassroots. We cannot leave it at the elitist level,” General Adeosun said.
Major General Bulama Biu Rtd., urged the National Institute for Policy and Strategic Studies to expand its reach beyond the political zone, emphasizing the need to implement ideas and advocate for policymakers to take action.
“We need to extend our frontiers and drive these ideas to make a real impact. Otherwise, we’ll just be limited to our own circles and destinations,” General Biu said.
The event with the theme: Advancing Security Education for Stable Political Systems, Socio Economic Development, Good Governance and Mitigating Terrorism in Nigeria, concluded with a call to action, emphasizing the need for collective efforts to build a secure Nigeria where citizens can live without fear and prosperity thrives.
Collective Efforts Needed to Build a Secure Nigeria – General Buratai
News
Period poverty: NEEM Foundation distributes sanitary pads to over 300 student in Abuja
Period poverty: NEEM Foundation distributes sanitary pads to over 300 student in Abuja
By: Michael Mike
NEEM Foundation, a Non-Governmental Organisation (NGO) has distributed sanitary towels to over 300 students in Abuja as part of its commitment to end period poverty among young school girls,
The foundation carried out the empowerment scheme in collaboration with the Regent Schools Abuja, at the Junior Secondary School, JSS, Jabi 1, Abuja.
Head legal, Neem Foundation, Nancy Oyibo
said conversations around menstrual health and hygiene should be normalised, noting that access to menstrual hygiene products is crucial to healthy living, well being and dignity of all women and girls in the society.
She said empowering women to take charge of their menstrual health is not just essential but transformative.
Oyibo said: “We discovered some issues of health as some young girls cannot afford sanitary towels during their period. We thought it was imperative, following the rate of inflation to help the young ladies, the future of our country.”
She disclosed that “this is our second distribution in Abuja, we have also done few distributions in Maiduguri.”
She noted that the target goal is to create a pad bank in schools, as according to research carried out by the organisation revealed that female students sometimes miss school during the period of their menstrual flow.
She said: “This is just a step to many activities to be carried out in this light. We are going to take this all the way to where it needs to get to and to pass on this message so people can understand the effect this has on the education system for young girls.
“We do not want to have girls in situations where they are vulnerable and not proud of something that comes naturally. We want them to come confidently knowing they have nothing to worry about as they can compete with their male counterpart in school and ensure that they get the best out of it.
“For now, we are engaging mostly the girls as we realized that, most of them are shy to discuss topics related to menstrual hygiene, so this stage is to have an interaction with them, to make them comfortable. This factor made us ensure we have male personnel among us to talk about these issues as a gradual process, then subsequently, we include the boys in the discuss.
“This whole situations stems from the home as some homes do not seem it right to discuss issues of menstrual hygiene publicly. This is how some people grew up and we are trying to change that narrative with a focus on spreading the word to everyone.
During an interactive section with the student, Legal Assistant Neem, Aliyyah Abdulkadir disclosed that the organisation saw it necessary to provide sanitary towels from the opinion that, you girls should not stay out of school, or have to choose between school and menstrual care.
She charged the students to be agent of change, in making concerted efforts to educate others in a bid to break the culture of silence.
For her part, the Executive Assistant to the Executive Director, Aisha Muniru Mai, speaking on the up coming 16 days activism on Violence Against Women, said: “We are keying into the issues with specific interest to access to education.
“One of the things we overlook is the period poverty. As if you do not have access to menstrual hygiene products, it will be difficult to go to school and learn. As such we are highlighting period poverty, teaching the children the signs and things they need to be aware of to identify violence and report to appropriate quarters.
The Director/Principal, JSS, Jabi 1, Dr. Grace Ifeyinwa Onyeanusi expressed profound gratitude to NEEM Foundation for the kind gesture as it will go a long way in helping the students maintain hygiene during menstruation.
One of the beneficiaries, A JSS 3 student Tega Praise Ogaga, expressed her appreciation to NEEM Foundation, disclosing how sometimes she is scared to approach her parents to purchase sanitary towels during menstruation and will have to use a single pad for a long period.
She said, “Sometimes I resolve to using rags or more than one pant, which is very discomforting, but with the sanitary towels from NEEM Foundation, I will not have to make any demands from my parents in a while.
Neem Foundation is a leading crisis response organisation committed to promoting the protection and wellbeing of populations and communities living in contexts affected by conflict, violence, and fragility.
Period poverty: NEEM Foundation distributes sanitary pads to over 300 student in Abuja
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