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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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ECOWAS Leaders Warn Democracy Must Deliver and Peace Must Be Built as West Africa Faces Rising Instability
ECOWAS Leaders Warn Democracy Must Deliver and Peace Must Be Built as West Africa Faces Rising Instability
By: Michael Mike
West African leaders have issued a joint warning that democracy in the region is under growing strain and must begin to produce visible results for citizens, while also stressing that peace cannot be imposed but must be deliberately built through dialogue and cooperation.
The concerns were raised at the opening of the 2026 First Ordinary Session of the ECOWAS Parliament held on Monday in Abuja, where regional lawmakers gathered amid rising insecurity, democratic reversals, and increasing public dissatisfaction across parts of West Africa.
Speaker of Nigeria’s House of Representatives, Tajudeen Abbas, warned that the survival of democratic governance in the sub-region now depends on its ability to deliver tangible outcomes in security, economic stability, and public welfare.
He said while citizens across West Africa continue to reject military rule, their patience with democratic systems is weakening due to poor governance outcomes and rising socio-economic hardship.
Abbas noted that declining voter trust, weak institutions, and recurring unconstitutional changes of government reflect deeper structural problems that democratic systems must urgently address.
“The issue is not whether democracy remains the preferred system, but whether it is delivering sufficiently to sustain that preference,” he said, warning that governance failures could further expand the space for instability.
The Nigerian Speaker also pushed for a stronger and more empowered ECOWAS Parliament, arguing that its current advisory status limits its ability to respond effectively to regional crises.
He renewed calls for reforms including enhanced legislative authority, stronger oversight powers, and improved enforcement mechanisms for regional agreements.
According to him, previous proposals to strengthen the Parliament have yet to be fully implemented, but the present instability across the region makes such reforms more urgent.
“A Parliament with limited influence cannot adequately respond to democratic reversals, security pressures, and economic uncertainty,” Abbas said.
Abbas also defended Nigeria’s recent economic reforms, including fuel subsidy removal and exchange rate unification, describing them as difficult but necessary decisions taken within a democratic framework.
He said early results show increased fiscal inflows to subnational governments and improved capacity for infrastructure and social investment, while acknowledging that challenges persist.
He argued that Nigeria’s experience demonstrates that even tough reforms can be implemented without resorting to military intervention, warning against a growing tendency toward unconstitutional power shifts in parts of the region.
In a separate address, the Speaker of the ECOWAS Parliament, Hadja Mémounatou Ibrahima, stressed that peace in West Africa cannot be declared or imposed by authority, but must be carefully built over time.
She said the region is facing a period of heightened geopolitical uncertainty, adding that “no region is immune” to the global spread of instability and conflict.
“The message must be clear: peace cannot be decreed — it must be patiently built through dialogue, cooperation, and mutual respect,” she said, urging member states to deepen collaboration in addressing shared challenges.
Ibrahima also highlighted ongoing reforms within the regional bloc, noting that ECOWAS is undergoing a strategic reassessment of its future direction.
She announced that the upcoming ECOWAS Future Summit scheduled for 21 May in Lomé, Togo, will focus on accelerating the implementation of ECOWAS Vision 2050.
The summit is expected to explore how regional integration can be strengthened and adapted to emerging political, economic, and security realities across West Africa.
Both leaders, though speaking separately, converged on a central message: that West Africa is at a critical turning point where democratic legitimacy must be reinforced by effective governance, and peace must be actively constructed through cooperation rather than assumed.
They warned that without stronger institutions, improved governance delivery, and deeper regional collaboration, the region risks further democratic setbacks and prolonged instability.
The session continues as ECOWAS lawmakers deliberate on strategies to strengthen democratic resilience and regional integration amid mounting challenges across West Africa.
ECOWAS Leaders Warn Democracy Must Deliver and Peace Must Be Built as West Africa Faces Rising Instability
News
Troops Arrest Suspected Terrorist Informant in Borno
Troops Arrest Suspected Terrorist Informant in Borno
By Zagazola Makama
Troops of the Nigerian Army have arrested a suspected informant linked to ISWAP/JAS terrorist groups in Ngamdu, Kaga Local Government Area of Borno State.
Security sources said the suspect was apprehended at about 6:00 p.m. on May 3 by troops of 154 Battalion at Ngamdu market following sustained surveillance.
The sources disclosed that the suspect had been on a security watchlist prior to his arrest.
According to the sources, items recovered from him include a mobile phone, the sum of ₦1,150, and other sundry materials.
They added that the suspect is currently in military custody and undergoing interrogation.
The sources noted that further investigations are ongoing to establish his role and possible links within terrorist networks operating in the area.
Troops Arrest Suspected Terrorist Informant in Borno
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Troops Conduct Offensive Operation in Gwoza, Destroy Suspected Terrorist Structures
Troops Conduct Offensive Operation in Gwoza, Destroy Suspected Terrorist Structures
By Zagazola Makama
Troops of the Nigerian Army have conducted an offensive operation in Gwoza Local Government Area of Borno State, targeting suspected terrorist hideouts and support structures.
Security sources said the operation was carried out at about 9:20 a.m. on May 1 by troops of 153 Task Force Battalion, operating alongside volunteer forces and hybrid troops deployed at Kirawa.
The sources disclosed that the joint team advanced to Gakara high ground and Ndova village during the operation.
According to the sources, no direct contact was made with terrorist elements during the mission.
They added, however, that troops destroyed several suspected terrorist logistics and life-support structures identified within the general area.
The sources noted that the operation is part of ongoing clearance efforts aimed at denying insurgents freedom of movement and operational bases within the Gwoza axis.
Troops Conduct Offensive Operation in Gwoza, Destroy Suspected Terrorist Structures
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