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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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Zulum Pays Sympathy Visit to Victims of Ngoshe Attack, Assures Rescue of Abducted Residents
Zulum Pays Sympathy Visit to Victims of Ngoshe Attack, Assures Rescue of Abducted Residents
By: Our Reporter
Borno State Governor, Professor Babagana Umara Zulum, has commiserated with the people of Ngoshe affected by the recent Boko Haram attack, describing the incident as tragic.
Ngoshe, a community in Gwoza local government, was attacked on Tuesday evening, scores were killed, while others were abducted.

Addressing members of the community on Friday in Pulka, Governor Zulum said he personally came to sympathize with the affected people and families of those that lost their loved ones.
He assured that efforts are underway to rescue all those abducted, restore security, and provide humanitarian support to victims.

“We are here today to commiserate with the people of Ngoshe that have lost their loved ones following the unfortunate incident that occurred on Tuesday. The situation is very sad and our hearts go out to all those affected by this tragedy,” Zulum said.
“I want to assure you that we will do everything possible to address the unfortunate situation that has befallen this community, and for those who have been abducted, the Nigerian military will do everything within its capacity to rescue them,” Zulum assured.

Governor Zulum explained that military operations are currently ongoing in Ngoshe and the Sambisa Forest to rid the area of criminal elements.
“There are ongoing military operations within the Sambisa Game Reserve. What we witnessed yesterday was largely a result of insurgents being pushed out from their strongholds, which led them to launch coordinated attacks on nearby communities,” he explained.
He called on the Nigerian Army to intensify operations to clear insurgents from the Mandara Hills which he described as a major security threat.
“The Mandara Hills remain a major security concern. The insurgents descended from the hills to attack this town. Therefore, I call on the Nigerian Army and the Federal Government to intensify efforts to clear Mandara Hills of insurgents,” Zulum said.

The governor noted that the exact number of casualties is yet to be confirmed as assessments are still ongoing, but acknowledged that several lives were lost while others were abducted.
As part of immediate humanitarian intervention, the governor said the state government had begun distributing relief materials and establishing cooking points to provide food for displaced residents.
“For now, we will distribute food items to those affected and I have directed that cooking points be established so that everyone in this community can receive meals from a central kitchen,” he said.
The governor appealed to residents to remain calm and law-abiding, noting that Borno State government will double its efforts to end this madness. “We shall not relent in our commitment to restoring lasting peace and stability in the state,” he said.
“I strongly believe that with sustained military operations and cooperation between all levels of government, we will overcome this challenge. Insha Allah, peace will return fully to our land,” the governor added.
Similarly, Governor Babagana Zulum inspected houses burned during an attack by Boko Haram insurgents on Thursday in Konduga town.
Zulum Pays Sympathy Visit to Victims of Ngoshe Attack, Assures Rescue of Abducted Residents
News
IWD 2026: UN Women Warns Nigeria’s Democracy at Risk as Women Hold Just 3.9% of Parliamentary Seats
IWD 2026: UN Women Warns Nigeria’s Democracy at Risk as Women¹ Hold Just 3.9% of Parliamentary Seats
By: Michael Michael
The Country Representative of UN Women to Nigeria and the Economic Community of West African States (ECOWAS), Beatrice Eyong, has warned that Nigeria’s democratic progress and development could remain stunted unless urgent action is taken to close the country’s widening gender inequality gap.
Speaking in Abuja during a media parley ahead of the 2026 commemoration of International Women’s Day, Eyong said Nigeria continues to face troubling disparities in women’s representation, safety and access to justice despite years of advocacy and policy commitments.
The global observance this year is themed “Rights. Justice. Action.”
Eyong said the theme reflects a growing international concern that although women’s rights are widely recognised in law and policy, millions of women still struggle to experience those rights in their daily lives.
She particularly raised alarm over Nigeria’s extremely low level of female political representation, revealing that women currently occupy just 3.9 per cent of parliamentary seats, one of the lowest rates anywhere in the world.
According to her, the imbalance not only undermines democratic inclusion but also weakens the country’s ability to make policies that reflect the needs of half of its population.
“Gender equality is fundamentally a question of power, and the power gap in Nigeria remains stark,” Eyong said.
“When women are missing from decision-making tables, the consequences are visible in the policies we adopt, the priorities we fund, and the voices that remain unheard.”
Beyond politics, she said Nigeria continues to grapple with persistently high levels of gender-based violence, noting that many survivors still face enormous barriers in seeking justice.
She warned that violence against women is increasingly spreading into digital spaces, where technology-facilitated abuse has become a growing threat.
“Rights mean little without justice,” she said. “Justice must be experienced in women’s safety, in their freedom from fear, and in their ability to seek protection and accountability wherever abuse occurs.”
To confront these challenges, Eyong said UN Women is intensifying advocacy for the Special Seats for Women Bill, a constitutional reform proposal aimed at guaranteeing women stronger representation in Nigeria’s legislative institutions.
She explained that the organisation is also working with the Federal Ministry of Women Affairs to strengthen the National Sexual Offender Database, a critical accountability tool designed to prevent convicted offenders from evading detection by moving between states.
In addition, she said UN Women has expanded its engagement with traditional and religious leaders across Nigeria to challenge cultural norms and social practices that perpetuate discrimination and violence against women.
The agency is also supporting efforts to institutionalise Gender-Responsive Budgeting at federal and state levels to ensure government spending prioritises issues affecting women and girls, including maternal health, girl-child education, economic empowerment and community safety.
Eyong noted that beyond policy reforms, UN Women is building partnerships with financial institutions and the private sector to increase access to funding for women-led businesses and community initiatives.
She also highlighted ongoing efforts to strengthen women’s participation in peacebuilding and conflict prevention through Nigeria’s Third National Action Plan on Women, Peace and Security.
However, Eyong stressed that meaningful progress will require more than policy declarations.
According to her, Nigeria does not suffer from a shortage of gender policies but from weak implementation, insufficient financing and inconsistent enforcement.
“We must move from commitments to implementation and from plans to measurable impact,” she said.
She called on the media to intensify its role in exposing injustice, amplifying the voices of survivors of violence and promoting women’s leadership across sectors.
Eyong said journalists remain critical partners in shaping national conversations that can influence policy reforms and public attitudes toward gender equality.
“When we secure justice and rights for women, we secure Nigeria’s stability, prosperity and future,” she said.
She added that UN Women remains committed to working with government, civil society, development partners and communities to ensure that the ideals of Rights, Justice and Action translate into tangible change for women and girls across Nigeria.
IWD 2026: UN Women Warns Nigeria’s Democracy at Risk as Women Hold Just 3.9% of Parliamentary Seats
News
Zulum Appoints Dr. Sa’id Alkali Kori, 3 others as Chairman, Board Members, Borno Investment Promotion Agency
Zulum Appoints Dr. Sa’id Alkali Kori, 3 others as Chairman, Board Members, Borno Investment Promotion Agency
By: Our Reporter
The earlier statement inadvertently refers to Dr. Sa’id Alkali Kori as the Director General/Chief Executive Officer of the Borno State Investment Promotion Agency, rather than the Chairman/Chief Investment Adviser to the Borno State Governor.
Therefore, this statement supersedes the earlier one.
Borno State Governor, Professor Babagana Umara Zulum, has approved the appointment of Dr. Sa’id Alkali Kori as Chairman/Chief Investment Adviser to the Borno State Governor.
Dr. Kori is a consummate entrepreneur and investment and infrastructure finance expert, and holds a PhD in Humanities and Social Sciences with a focus on Intellectual Capital from the University of London, United Kingdom.
He serves as the Honorary Special Adviser on International Relations and Investment to the Governor of Yobe State and is the Technical Adviser to the Lake Chad Basin Governors’ Forum.
Dr. Kori is currently the Chairman and Group Chief Executive Officer of Thinklab Group Limited, a leading innovation and development finance firm. He also serves as the Chairman of the Board for the Nigeria Food Corporation.
He has structured financing in excess of $200 million for critical infrastructure in housing, healthcare, and road networks.
The appointment is for the initial term of four years.
Governor Babagana Umara Zulum has also approved the appointment of Laminu Lawan Awana, Abubakar Ahmed Askira, and Danladi Alfaki Isa as Governing Board members representing the three senatorial zones of the state.
This is in accordance with section 6(b) of the Borno State Investment Promotion Law 2026 (as amended).
The appointees are seasoned professionals in trade and investment, development financing, housing, and mortgage finance.
Other members of the Board include:
A representative from each of the following Ministries, Departments, and Agencies, not below the rank of a Director, as Ex-Officio Members:
· Ministry of Commerce, Trade and Industries
· Borno State Geographic Information Service (BOGIS)
· Ministry of Works
· Ministry of Housing and Energy
· Ministry of Justice
· Ministry of Agriculture and Natural Resources
· Ministry of Livestock
· Ministry of Planning
· Ministry of Finance
· Ministry of Local Government and Emirate Affairs
- Two (2) representatives from the Organized Private Sector in Borno State.
- The Director-General of the Borno State Investment Promotion Agency will serve as the Secretary.
All the appointments take immediate effect.
Governor Babagana Zulum expressed confidence that, with Dr. Kori’s vast experience and the collective expertise of the board members, the state will be positioned as a hub for domestic and foreign investment and will foster viable Public-Private Partnerships (PPPs) to accelerate the State’s economic revitalization and sustainable development.
Zulum Appoints Dr. Sa’id Alkali Kori, 3 others as Chairman, Board Members, Borno Investment Promotion Agency
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