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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
Nine PAP Foreign Scholarship Beneficiaries Bag Master’s Degrees From UK Varsities
•••771 to Graduate in Nigeria in 2025
•••Otuaro Hails Scholars’ Performances
By: Michael Mike
Nine students awarded foreign post-graduate scholarships by the Presidential Amnesty Programme have graduated from their master’s degree rprogrammes in universities in the United Kingdom.
The successful scholars are the first graduates in the offshore post-graduate scholarship deployment to UK institutions by the PAP Administrator, Dr Dennis Otuaro, for the 2024-2025 academic session.
They graduated from the Anglia Ruskin University, University of Dundee and The University of Law with master’s degrees in cyber security, data science and engineering, law, construction and civil engineering management, project management, and ICT.
Also, 711 undergraduate and post-graduate scholarship beneficiaries are expected to graduate from universities within Nigeria this year.
The PAP, on Wednesday, 3 December, 2025, organised a graduation reception for the scholars in London.
Otuaro has congratulated them on their successful graduation, stressing that they completed their programmes in record time which shows the seriousness they had put into their studies.
He said they have justified the Federal Government’s investment in their education with their successful graduation, and urged other beneficiaries not to be distracted in their academic pursuits.
“We congratulate these scholars on their successful graduation. It shows that they took their studies seriously. That is what we demand of every scholarship beneficiary, whether at the undergraduate or post-graduate level”, Otuaro said.
He reiterated his unwavering commitment to expanding the scholarship scheme to create more opportunities for indigent students of Niger Delta extraction to access higher education with a view to closing the human capital development gap in the region.
Otuaro said it was for this reason he deployed 3800 beneficiaries in-country in the 2024-2025 academic year, and increased the figure to 3900 in the 2025-2026 academic session with 200 for foreign scholarships.
Otuaro has so far deployed 7700 students for the PAP scholarship scheme within Nigeria in less than two years.
Within this period, also, he has also deployed 162 students from the region for post-graduate programmes in targeted disciplines in the UK universities.
According to him, this is in conformity with the Renewed Hope Agenda of President Bola Tinubu for the Niger Delta, who has given unprecedented support to the PAP because of his sincere love for the area.
The PAP boss said, “Our decision aligns with the Renewed Hope Agenda of His Excellency, President Bola Ahmed Tinubu GCFR for the Niger Delta. We will continue to create more higher educational opportunities for students from indigent backgrounds in our region.
“We are also deepening the implementation of the programme’s mandate in informal education and other areas for the sustainable peace and socio-economic advancement of the region.”
Nine PAP Foreign Scholarship Beneficiaries Bag Master’s Degrees From UK Varsities
Sunshine Joint Venture Infrastructure Limited Established for Realization of Ondo Project
By: Michael Mike
Sunshine Joint Venture Infrastructure Limited has been incorporated to seamlessly allowed for the Refinery and Free Trade Zone in Ondo State.
A press statement on Thursday read that: “In furtherance of our commitment to the execution of these two major projects – Refinery and Free Trade Zone in conjunction with the Ondo State Government, the joint partners have taken another giant step by incorporating a joint company, namely – SUNSHINE JOINT VENTURE INFRASTRUCTURE LIMITED – as the vehicle to be used in executing these projects. A move that further reinforces the sincerity of purpose and total commitment of the funding partners to move ahead together as a united front.
According to the release by Wale Adekola on behalf of the JV, the Sunshine Joint Venture Infrastructure Limitedwill, going forward serve as the vehicle to work with the Ondo State Government through the Ondo State Investment Promotion Agency (ONDIPA) in the implementation of the executed Memoranda of Understanding (MoUs).
The statement added that: “In moving the projects forward for implementation, the JV team met in Dubai to finalize the funding modalities and put in place structures and plans for the commencement of activities for ground breaking and community engagements. These initial activities are aimed at complementing the 50th Anniversary of the creation of Ondo State and the one year anniversary of the election of the Executive Governor of the Sunshine State, His Excellency, Chief Lucky Orimisan Aiyedatiwa CFR.
At the Dubai meeting were key officers of the JV Company, including: Messrs SALEHI FARHAD; ZAHERI NAVID; EGHBAL KORDJAMSHIDI; SAHEED ZAHERI; DR. STEPHEN DIKE; HENRY OWONKA AND MRS. NAMVAR MARYAM.
The statement further informed that, plans have been concluded to mobilize the relevant contractors working with the locals and host communities to put up structures that will host the information center, architectural models to showcase the projects on offer and facilities that will serve the team. All these are being planned with ONDIPA to execute the relocation and accommodation of the host communities that are likely to be affected by the projects and create a seamless transition that will engender peaceful co-existence and harmonious relationship with our host communities.
The JV company further reiterated its commitment to work with Ondo State Government (through ONDIPA) to change the infrastructural landscape of the Sunshine State and for mutual benefits.
Sunshine Joint Venture Infrastructure Limited Established for Realization of Ondo Project
Edo: Seven suspected bandits arrested along Benin-Agbor Road
By: Zagazola Makama
Seven suspected bandits were arrested along the Benin–Agbor Road in Edo State during stop-and-search operations, security sources confirmed.
Sources told Zagazola Makama that the suspects, all Fulani youths, were intercepted after being offloaded from a truck at about 1800 hours on 2 December 2025. A search revealed pictures of assault rifles, including AK-47s, on their mobile phones.
Upon interrogation, the suspects claimed to have travelled from Adamawa State. Investigations are ongoing for the possible recovery of actual firearms and to determine their involvement in criminal activities.
Security agencies have urged members of the public to report any suspicious movements to help prevent criminal acts in the area.
Edo: Seven suspected bandits arrested along Benin-Agbor Road
UN Women Calls for Strengthening of Mechanism and Policies Towards Ending Gender Violence
Nine PAP Foreign Scholarship Beneficiaries Bag Master’s Degrees From UK Varsities
Sunshine Joint Venture Infrastructure Limited Established for Realization of Ondo Project
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