News
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
News
Troops Raid Terrorist Enclaves in Katsina, Criminals Flee Before Contact
Troops Raid Terrorist Enclaves in Katsina, Criminals Flee Before Contact
By: Zagazola Makama
Troops of 17 Brigade, in collaboration with local vigilantes, have conducted coordinated offensive operations on suspected terrorist enclaves across parts of Katsina State, forcing criminals to flee before troops’ arrival.
Security sources told Zagazola that the operation took place at about 0800 hours on May 10, 2026, targeting Kafin-Soli, Karaduwa, Maraban Musawa and Jikamshi villages in Kankia, Musawa and Matazu Local Government Areas of the state.
The sources said the clearance operation was part of ongoing efforts to dislodge criminal elements and deny them freedom of action within rural communities.
According to the sources, troops and vigilantes moved simultaneously into the identified locations but met no resistance as the suspected terrorists had fled prior to their arrival.
Military authorities said follow-up exploitation of the general area was ongoing to ensure the criminals do not regroup or return to the affected communities.
They added that troops will continue intelligence-led patrols and offensive operations across vulnerable areas in Katsina State to sustain pressure on criminal networks and restore normalcy.
Troops Raid Terrorist Enclaves in Katsina, Criminals Flee Before Contact
News
Troops Ambush Terrorists in Kogi State, Neutralise One, Recover Arms and Cash
Troops Ambush Terrorists in Kogi State, Neutralise One, Recover Arms and Cash
By: Zagazola Makama
Troops of 12 Brigade have successfully ambushed suspected terrorists along the Old Obajana–Jakura–Tajimi axis in Lokoja Local Government Area of Kogi State, neutralising one insurgent and recovering weapons, ammunition and other items.
Security sources said that the operation occurred at about 0450 hours on May 10, 2026, west of Meyanga and north of Adankolo Forest during a planned ambush operation.
The sources said troops made contact with the terrorists in the early hours of the day, leading to a brief exchange of fire.
According to the sources, one terrorist was neutralised during the engagement, while others fled the scene, abandoning their weapons and equipment.
Items recovered at the scene included two AK-47 rifles, six magazines loaded with 145 rounds of 7.62mm special ammunition, one locally fabricated pistol, one Motorola handheld radio, one motorcycle, and a sum of ₦62,900.
Other recovered items included a camouflaged bandolier, three mobile phones and additional sundry materials.
Military authorities said troops have continued exploitation of the general area to track fleeing suspects and prevent regrouping of criminal elements.
They added that operations in the axis remain ongoing as part of sustained efforts to dominate the environment and deny terrorists freedom of action.
Troops Ambush Terrorists in Kogi State, Neutralise One, Recover Arms and Cash
News
Funding of Politics with State Funds: ActionAid Demands Impeachment of Governors Found Culpable
Funding of Politics with State Funds: ActionAid Demands Impeachment of Governors Found Culpable
By: Michael Mike
Human rights and anti-poverty organisation, ActionAid Nigeria, has called for the immediate impeachment of any governor found guilty of using state resources to fund political campaigns ahead of the 2027 general elections.
The organisation made the demand in a statement issued on Tuesday in Abuja by its Country Director, Andrew Mamedu, following growing public concerns over alleged movement of huge sums of money by some political actors for campaign-related activities.
ActionAid Nigeria said the allegations have raised serious questions about the source of the funds allegedly being deployed for political mobilisation and consolidation of power ahead of the next election cycle.
Mamedu described the reports as disturbing and unacceptable, especially at a period when millions of Nigerians are grappling with economic hardship, rising inflation, insecurity, unemployment and worsening living conditions.
According to him, it would amount to a grave abuse of public trust if state resources meant for governance and development were diverted for partisan political purposes.
“It is appalling that at a time when Nigeria is drowning in debt, workers are struggling with the rising cost of living, public hospitals are underfunded, schools are collapsing, insecurity is spreading, and millions of Nigerians are battling hunger and extreme economic hardship, that any suggestion of public resources are being diverted or deployed for political campaigns,” he stated.
The organisation stressed that governors were elected to serve the people and not to convert state resources into what it described as “political war chests.”
ActionAid Nigeria challenged governors and political actors allegedly linked to the claims to publicly explain the source of the funds being used for political activities, insisting that Nigerians deserve transparency and accountability.
The group further urged anti-corruption agencies, including the Economic and Financial Crimes Commission and the Independent Corrupt Practices and Other Related Offences Commission, as well as State Houses of Assembly, to commence immediate investigations into the allegations.
According to the organisation, any governor found culpable should face impeachment, prosecution and recovery of diverted public funds.
“Any governor who diverts public resources for political campaigns has violated public trust and abused the mandate given to them by citizens. Such individuals should not remain in office,” Mamedu said.
He warned that unchecked misuse of public resources could weaken democratic institutions and create an unfair political environment where incumbents enjoy undue advantage over other contestants.
The organisation also noted that while political parties have the right to organise campaigns and raise lawful support, such activities must not involve public funds, government assets or state institutions.
ActionAid Nigeria cited countries such as the United Kingdom, United States, Canada, Germany and South Africa as examples where strict accountability measures exist to prevent incumbents from using state resources for partisan political activities.
The organisation called on citizens, civil society groups, journalists, whistleblowers and anti-corruption advocates to remain vigilant and expose any suspicious use of public resources for political purposes ahead of the 2027 elections.
ActionAid Nigeria maintained that safeguarding democracy and protecting public resources must remain a collective responsibility of both institutions and citizens.
Funding of Politics with State Funds: ActionAid Demands Impeachment of Governors Found Culpable
-
News2 years agoRoger Federer’s Shock as DNA Results Reveal Myla and Charlene Are Not His Biological Children
-
Opinions4 years agoTHE PLIGHT OF FARIDA
-
News1 year agoFAILED COUP IN BURKINA FASO: HOW TRAORÉ NARROWLY ESCAPED ASSASSINATION PLOT AMID FOREIGN INTERFERENCE CLAIMS
-
News2 years agoEYN: Rev. Billi, Distortion of History, and The Living Tamarind Tree
-
Opinions4 years agoPOLICE CHARGE ROOMS, A MINTING PRESS
-
ACADEMICS2 years agoA History of Biu” (2015) and The Lingering Bura-Pabir Question (1)
-
Columns2 years agoArmy University Biu: There is certain interest, but certainly not from Borno.
-
Opinions2 years agoTinubu,Shettima: The epidemic of economic, insecurity in Nigeria
