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
Troops Conduct Clearance Patrol, Dominate Tuba Axis in Borno
By: Zagazola Makama
Troops of the Nigerian Army have conducted a successful clearance patrol around the Tuba axis in Borno State, as part of ongoing operations to deny Boko Haram/ISWAP freedom of movement.
Security sources said that the operation was carried out by troops of 212 Battalion under Operation Hadin Kai, following credible intelligence on suspected terrorist activities within three kilometres east of the Forward Operating Base (FOB) Tuba.
The troops conducted a fighting patrol covering approximately 7.5 to 8 kilometres around the FOB, scanning multiple directions within the area of responsibility.
According to the sources, the terrorists hastily fled on sighting the advancing troops.
The patrol was described as hitch-free, with troops successfully dominating the general area and identifying no immediate threats.
Military authorities noted that the operation is part of sustained efforts to maintain pressure on terrorist groups and prevent their regrouping within the theatre.
Troops Conduct Clearance Patrol, Dominate Tuba Axis in Borno
Troops Foil ISWAP Indirect Fire Attack on Gwoza, No Casualties Recorded
By: Zagazola Makama
Troops of the Nigerian Army have successfully foiled an attempted indirect fire attack by suspected Boko Haram/ISWAP terrorists targeting military positions and civilian areas in Gwoza.
Security sources said that the incident occurred at about 12:06 p.m. on April 22, when the terrorists fired four 105mm high-explosive bombs from positions within the Mandara Mountains into troop deployment areas and adjoining parts of the town.
The attack reportedly caused panic among residents but did not result in any casualties.
Troops under Operation Hadin Kai responded swiftly with coordinated counter-battery fire and ground reinforcements, effectively neutralising the threat and preventing any attempt by the attackers to infiltrate defensive positions.
Military authorities confirmed that the prompt and disciplined response of the troops brought the situation under control within a short time.
They added that no casualties were recorded among both military personnel and civilians during the engagement.
The military noted that while the general security situation in the theatre remains relatively calm, it is still unpredictable, with troops maintaining maximum vigilance.
Authorities reassured residents of continued operations to safeguard communities and sustain pressure on terrorist elements operating in the North East.
Troops Foil ISWAP Indirect Fire Attack on Gwoza, No Casualties Recorded
State Actors Grumble Over Operational Allowances Within the Hadin Kai Theatre.
By: Bodunrin Kayode
There is a quiet grumble within the ranks of the Joint Security team in the Hadin Kai theatre with an allegation that some forward operational bases are paid discriminatory allowances.
Some sources within the non military rankings who spoke with this reporter claim that their military colleagues in some forward operational bases (FOB) are actually paid higher than the rest of them by the pay masters who are supposed to release these funds.
This has actually led to a silent outcry by some of the security personnel within the ranks of the Hadin Kai theatre who have decried what they described as the unnecessary disparity between their operational allowances and that of the military.
“There has been some underground grumbling within the ranks of the uniformed personnel in the Hadin Kai theatre over allowances and I am talking about the para military and the police who are in the team in this very sector one.
” From our investigation, it has never happened before and that makes it strange and we believe it is not known to the theatre commander (TC) who we all know as a just man who wants all of us to be happy.
” And that is why we are passing this injustice through you people because you are equal partners in the battles we are fighting against our common enemy because we believe the wrong will be reversed as soon as he gets to hear.
“At our own FOB for now, I can say the drilling for crude oil has stopped but we are pinning the ground against the criminals. And I must tell you, the main challenges here is water we don’t have enough water and the food served is not that good.
“we have only been allocated two bags of water for one week in this hot weather and the allowance given is 31,000 naira while the military is 45,000 naira sir.
“So why is there a difference in the money while both of us are working in the same assignment. Before the allowance was N45,000 and was equal to that of the Army but now they have reduced non military to N31,000 and they expect us to pay returns of 5,000 inside the same N31,000” Said the angry operative.
Operatives of operation Hadin Kai are made up mostly of the entire military, Federal Police, immigration, customs, Civil defence, custodial service, vigilante and the civilian jtf.
In spite of all these collaboration among services which includes the state security services sometimes, the war has gone on for almost 17 years with no sign of a true, seize fire, table negotiations or a total end of the hostilities between the country and non state actors.
State Actors Grumble Over Operational Allowances Within the Hadin Kai Theatre.
Troops Conduct Clearance Patrol, Dominate Tuba Axis in Borno
Troops Foil ISWAP Indirect Fire Attack on Gwoza, No Casualties Recorded
Army Reunites Rescued Women, Children with Families in Borno
Roger Federer’s Shock as DNA Results Reveal Myla and Charlene Are Not His Biological Children
THE PLIGHT OF FARIDA
FAILED COUP IN BURKINA FASO: HOW TRAORÉ NARROWLY ESCAPED ASSASSINATION PLOT AMID FOREIGN INTERFERENCE CLAIMS
-
News2 years agoRoger Federer’s Shock as DNA Results Reveal Myla and Charlene Are Not His Biological Children
-
Opinions4 years ago
THE 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
