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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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Fire destroys 10 shops in Gusau shopping complex
Fire destroys 10 shops in Gusau shopping complex
By: Zagazola Makama
A fire outbreak has destroyed ten shops at a shopping complex in Garejin Mai Lena area of Gusau Local Government Area, Zamfara State.
Sources said the incident occurred at about 2:00 a.m. on Thursday, causing extensive property losses valued at millions of naira.
The blaze was brought under control through a joint effort by security operatives and local residents who assisted in putting out the fire.
Authorities confirmed that no lives were lost and no injuries were reported during the incident.
The cause of the fire is currently under investigation as efforts continue to assess the full extent of the damage.
Fire destroys 10 shops in Gusau shopping complex
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Boko Haram: The worse days are over….Zulum
Boko Haram: The worse days are over….Zulum
By: Bodunrin Kayode
Borno state Governor Prof Babagana Zulum has assured citizens of the state that the worse days of insurgency are over.
In a state wide broadcast as soon as he arrived from his visit to Saudi Arabia, the Governor extinguished any iota of fear in the minds of the residents adding that they should not loose hope now that a ray of hope is waiting for them at the end of the tunnel.
He noted that what residents are witnessing now is the results of the rattling of the criminals in the Timbuktu triangle which is why they are unleashing such wickedness on the citizenry.
“However, I want to reassure you that the worst days are over. We have been constantly assessing the situation, and a robust, coordinated response is already in motion.
” These cowardly elements who seek to disturb our peace will obtain no sanctuary in Borno State. We will deal decisively with their recent resurgence.
“Fellow citizens, this fight is not the responsibility of the military alone; it is a collective effort. I must emphasise the importance of cordial, close collaboration with our military.
“They are here to protect us, and they need our eyes and our ears. I extend my deepest sympathies to the families of our gallant soldiers, security personnel and our volunteer forces who have sacrificed their lives in the line of duty. My heart also goes out to every civilian whose life has been disrupted by this situation. Your resilience is the bedrock of our state, and the power of prayer in unison is a weapon no enemy can withstand.
“Furthermore, let me issue a stern warning to any individual or group that aids or collaborates with these criminals. To those who feed them with information, shelter them and their sympathisers, and provide logistical support, your time is up. You are not patriots; you are enemies of the state. You will be hunted down and made to face the full wrath of the law. Your actions betray our collective peace, and we will no longer tolerate them.”
Said Zulum.
Below is the full text of the governor’s broadcast to the state:
STATEWIDE BROADCAST BY THE EXECUTIVE GOVERNOR OF BORNO STATE, PROFESSOR BABAGANA UMARA ZULUM, ON THURSDAY, 19TH MARCH 2026
My dear good people of Borno State,
I address you today at a moment that requires both our solemn reflection and our resolute unity.
Fellow citizens, the recent resurgence of insecurity in parts of our dear state over the past few weeks is deeply concerning. As the Chief Security Officer, let me assure you that the overall security environment, while tested, remains under control, and we are doing everything possible to protect lives and property.
Over the past seven years, we have worked tirelessly to restore peace and prosperity to the great land and rebuild our state. Within the period, we have responded with prompt, positive actions on every occasion. We have not allowed the dark dreams of the wayward ones to take root, and instead, we have fostered hope and resilience among the communities affected by the conflict. Through a combination of consultations and collective planning, with the strong support of our security agencies and the civilian JTF, the Almighty Allah (SWT) has helped us achieve some measure of success and peace.
We do not believe that the decrease in past attacks signals the end of the insurgency. No, it is not. In fact, at the leadership level, we are very conscious of the fact that much more needs to be done to permanently address the root of this madness and the menace of illogical attacks among our peace-loving people.
The recent spike in activity by these criminal elements is a direct consequence of the sustained and aggressive military operations being conducted across the theatre. These operations have dislodged the criminals, forcing them to flee and seek respite by infiltrating our communities.
However, I want to reassure you that the worst days are over. We have been constantly assessing the situation, and a robust, coordinated response is already in motion. These cowardly elements who seek to disturb our peace will obtain no sanctuary in Borno State. We will deal decisively with their recent resurgence.
Fellow citizens, this fight is not the responsibility of the military alone; it is a collective effort. I must emphasise the importance of cordial, close collaboration with our military. They are here to protect us, and they need our eyes and our ears. I extend my deepest sympathies to the families of our gallant soldiers, security personnel and our volunteer forces who have sacrificed their lives in the line of duty. My heart also goes out to every civilian whose life has been disrupted by this situation. Your resilience is the bedrock of our state, and the power of prayer in unison is a weapon no enemy can withstand.
Furthermore, let me issue a stern warning to any individual or group that aids or collaborates with these criminals. To those who feed them with information, shelter them and their sympathisers, and provide logistical support, your time is up. You are not patriots; you are enemies of the state. You will be hunted down and made to face the full wrath of the law. Your actions betray our collective peace, and we will no longer tolerate them.
Let me at this juncture commend the President and Commander-in-Chief, Bola Ahmed Tinubu GCFR, for releasing the necessary funding to the Multi-National Joint Task Force (MNJT) and several other military operations across different theatres in Nigeria. This support is vital to the sustainability of the ongoing military operations.
I also wish to extend my appreciation to the Vice President, Senator Kashim Shettima, who represented the President for the sympathy visit over the recent unfortunate incident.
I also want to extend our profound gratitude to the gallant men and women of the Nigerian Armed Forces, the Nigerian Police Force, the Department of State Services (DSS), the Nigerian Security and Civil Defence Corps (NSCDC), other law enforcement agencies, our dedicated CJTF, hunters, and vigilantees. Your professionalism, bravery, and sacrifices are the only reasons we have a state to return to. The nation owes you a tremendous debt that can never be fully repaid.
To our revered traditional rulers, I appreciate your steadfastness and your role as the custodians of our culture and conscience. I am equally grateful to our religious leaders and the entire people of Borno for their relentless prayers. I want to urge my colleagues in the political class to unite and support our efforts to restore peace. Our people look up to us for leadership, not division.
My dear people, as the political season intensifies, tensions may rise. But we must align our political interests with the stark realities of our security situation, including ongoing threats from insurgent groups and the need for community stability. Let us not allow politics to undermine the hard-earned peace we have built. I therefore call on all aspirants and their supporters to prioritise the greater interests of Borno State above their personal ambitions.
Since assuming office in 2019, I have been fair, just, and inclusive in my dealings with the entire political class. My loyalty to His Excellency, the Vice President, need not be overemphasized.
Furthermore, as a leader, I have embraced all and sundry. I have never betrayed the trust of members of the national and state assemblies, as well as political office holders of Borno extraction, at the state or national level.
Therefore, I want to call on all political actors to be wary of elements seeking to exploit the current situation to create unnecessary political instability.
As we look to the future and choose a new leader for our state, I urge all citizens to pray fervently for a worthy successor. Let me remind us that power belongs to Allah and He grants it to whom He wills.
As we approach the end of Ramadan, I call on all residents, both Christians and Muslims, to use this last hour of fasting and Sallah celebration to intensify prayers for peace, unity, and stability in our state and the country at large.
Consequently, let me use this opportunity to encourage citizens of Borno to be more vigilant. As we gather to break our fast toward the end of 2026 Ramadan, let us pay attention to our environment. Let us identify strangers, report suspicious movements to security agencies, and take the necessary precautions.
Once again, and with all the emphasis I can command, I urge you all to remain calm and observe your Eid prayers within your communities.
In conclusion, I seek your understanding and forgiveness for our wrongdoings and reassure you that Borno shall not fall into the hands of Boko Haram insurgents, insha Allah.
May God bless the Federal Republic of Nigeria and the people of Borno State.
Thank you and God Bless You
Boko Haram: The worse days are over….Zulum
News
Eid-el-Fitr: Senator Araraume Greets Muslims, Commends President Tinubu’s Leadership
Eid-el-Fitr: Senator Araraume Greets Muslims, Commends President Tinubu’s Leadership
By: Michael Mike
Senator Ifeanyi Araraume, a prominent chieftain of the All Progressives Congress (APC), has extended warm felicitations to Muslims in Nigeria and across the globe on the joyous occasion of Eid-el-Fitr.
In a statement to mark the end of Ramadan, Araraume highlighted the significance of the month long period of spiritual reflection, fasting, and devotion. “As Muslims gather with loved ones to share in the festivities, I join in the cheer, wishing everyone a blessed and peaceful Eid,” he said.
The Senator expressed profound appreciation to Muslim Nigerians for their contributions to the nation’s growth, describing their faith, resilience, and patriotism as beacons of hope. “Your unwavering commitment to Nigeria’s progress is truly commendable,” he stated.
As the country navigates its current challenges, Araraume called for unity, understanding, and collective effort. “Let us embrace the spirit of Eid, forgiveness, generosity, and kindness, to build a brighter future for ourselves and generations to come,” he urged.
Araraume also extended solidarity to President Bola Tinubu, a distinguished Muslim and the leader of APC, praising his visionary leadership and dedication to nation building. “President Tinubu’s commitment to serving Nigeria has been exemplary, and we assure him of our continued support,” he said.
Reaffirming the APC’s commitment to national prosperity, Araraume emphasized that the values of compassion, unity, and progress embodied by Eid align deeply with the party’s ethos. “As we mark this occasion, we reaffirm our dedication to creating a Nigeria where faith and ethnic background are not barriers to success,” he concluded.
Eid-el-Fitr: Senator Araraume Greets Muslims, Commends President Tinubu’s Leadership
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