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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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Military Air precision bombardment neutralises over 50 terrorists after attack on Ngoshe in Borno
Military Air precision bombardment neutralises over 50 terrorists after attack on Ngoshe in Borno
By: Zagazola Makama
The Air Component of Operation Hadin Kai has neutralised over 50 suspected Boko Haram/ISWAP terrorists following precision air strikes on their withdrawal routes after a failed attack on Ngoshe in Gwoza Local Government Area of Borno.
Sources told Zagazola Makama that the officer said the terrorists had, at about 7:30 p.m. on March 3, launched a coordinated assault on artillery positions in Ngoshe, a community located about 12 kilometres from Pulka and 31 kilometres from Gwoza town.
“The insurgents attempted to overrun the artillery positions in a surprise evening attack. Troops on ground responded effectively but conducted a tactical withdrawal under intense fire to preserve personnel and equipment while reinforcements were being mobilised,” he said.
The sources explained that the insurgents had adopted a hit-and-withdraw tactic, abandoning the scene before reinforcement troops fully secured the area.
The sources added that additional troops were immediately deployed, while surveillance platforms tracked the fleeing terrorists along identified withdrawal corridors.
“Upon receipt of real-time intelligence from ground troops, the surveillance aircraft were scrambled to engage the terrorists on their egress routes. The terrorists were sighted moving in clusters in both locations.
“Precision bombardment was conducted on confirmed target clusters and movement trails. Battle Damage Assessment indicates that over 50 terrorists were neutralised in two separate strike runs,” the officer said.
“The air-ground synergy under Operation Hadin Kai ensured that although the terrorists attempted to escape into forested enclaves, they were decisively engaged from the air.
“The strikes also disrupted their logistics and mobility capability within the Ngoshe–Pulka corridor,” he said.
The sources further stated that clearance and area domination operations were ongoing to forestall any regrouping attempts by the insurgents.
He noted that the Ngoshe–Gwoza axis remains a historically volatile corridor due to intermittent activities of Boko Haram and ISWAP remnants exploiting difficult terrain and proximity to cross-border forest zones.
“Operation Hadin Kai remains resolute in sustaining offensive pressure. The message is clear any attempt to attack our positions will attract overwhelming and coordinated firepower,” he said.
He assured residents of Gwoza and surrounding communities of the military’s commitment to protecting lives, supporting resettlement efforts, and consolidating gains recorded in the ongoing counter-insurgency campaign in Borno.
Military Air precision bombardment neutralises over 50 terrorists after attack on Ngoshe in Borno
News
Two arrested over alleged child trafficking in Cross River
Two arrested over alleged child trafficking in Cross River
By; Zagazola Makama
Two suspected child traffickers have been arrested by the Police in Oboho Ito community, Odukpani Local Government Area of Cross River, following a foiled attempt to allegedly sell a one-month-old baby.
Security sources told Zagazola Makama that the suspects were apprehended on March 2 after youths of the community intercepted them based on a tip-off.
According to the source, the mother of the baby, Favour Effiong, reported that on March 1, one Happiness Etim Udoh, allegedly persuaded her to bring her one-month-old child under the pretext of taking her to receive financial assistance for the upkeep of the baby.
“On suspicion, the mother informed her landlord, and community youths laid ambush for the suspect,” the source said.
Udoh was subsequently arrested alongside an alleged accomplice, Ekpo Inyang, said to have no fixed address.
Police say preliminary investigation revealed that the suspects allegedly planned to snatch and sell the baby to a woman in Abuja.
The source further disclosed that during interrogation, the suspects allegedly confessed to previously selling a child for N200,000 to a buyer in Abuja.
It was also alleged that arrangements had been made to hand over the one-month-old baby to a relative of one of the suspects in Abuja, who was reportedly pretending to be pregnant.
The baby was safely recovered and handed back to the mother.
Police said investigation into the matter had commenced, while efforts were ongoing to identify and apprehend other members of the suspected trafficking network.
They reiterated commitment to tackling child trafficking and protecting vulnerable children across the state.
Two arrested over alleged child trafficking in Cross River
News
Troops of Operation HADIN KAI repel ISWAP attack in Damasak, three residents shot
Troops of Operation HADIN KAI repel ISWAP attack in Damasak, three residents shot
By: Zagazola Makama
Troops of Operation HADIN KAI, in collaboration with Civilian Joint Task Force (CJTF)/Hunters Group, successfully repelled an attack by suspected ISWAP terrorists in Damasak town, Nganzai Local Government Area.
According to sources, the assailants invaded the town around 10:30 p.m., opening sporadic gunfire that sent residents fleeing in panic.
“Three civilians, Goni Dauda, 25, of Zanna Umarti Ward; Modu Ya’asham, 32, of Gajiram Town; and Asinamai David, 25, of Bula Kara, Gubio Town, were fatally hit by stray bullets, while Kellu Bukar, 40, an IDP camp resident, sustained a chest wound and is currently receiving treatment at General Hospital Damasak.
The troops stormed the scene and engaged the terrorists in a heavy gun battle forcing them to flee with bullets wounds.
The troops later visited the scene and evacuated the victims.
The corpses of Goni Dauda and Modu Ya’asham were released to their families for burial according to Islamic rites, while Asinamai David was buried according to Christian rites.
Security forces confirmed that normalcy has returned to the town, and monitoring continues to prevent further incidents.
Troops of Operation HADIN KAI repel ISWAP attack in Damasak, three residents shot
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