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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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KACRAN Condemns School Kidnappings
KACRAN Condemns School Kidnappings
…Appeals for Immediate Release of Students
By: Michael Mike
The Kulen Allah Cattle Rearers Association of Nigeria (KACRAN) has condemned the recent tragic kidnapping of secondary school students in Kebbi and Niger States.
The group in a statement signed by its National President, Khalil Bello named Ted that the issue has become a major national concern, highlighted by the decision of President Bola Tinubu to cancel his scheduled trip to South Africa for the G20 Economic Summit to focus on the crisis at home.
Bello said: “The most regrettable aspect of this deeply disturbing incident is that it targets innocent secondary school students. These are children who have left their parents for the first time to attend boarding school, pursuing an education that is vital for the future development of their states, Nigeria, and the world.
“Furthermore, we must consider the lasting emotional and psychological trauma being inflicted upon these young victims. The suffering of their parents and relatives, who are enduring days of uncertainty, hunger, and heartbreak, is a grave humanitarian crisis that threatens their health and overall well-being.”
He addd that: “The Federal Government’s subsequent directive to close over 40 Federal secondary schools across the country, along with closures ordered by the Niger and Katsina State governments, represents a significant educational setback. This is particularly alarming for the Northern region, which is already struggling with a high rate of out-of-school children. KACRAN is profoundly concerned that the perpetrators of this unholy act are now turning their unlawful attacks on vulnerable children who deserve the highest levels of protection.
“The aforementioned incident, which prevented our visionary President from attending the G20 meeting—an event of crucial importance to Nigeria’s global image—is a painful economic and reputational loss for the nation. KACRAN highly appreciates the serious concern and sympathy Mr. President has demonstrated towards the victims and their families.
“At this juncture, KACRAN reiterates its strong condemnation of all acts of violence in the country, especially the unacceptable kidnapping of innocent students. We passionately appeal to the kidnappers to fear the Almighty God and contemplate the day of judgment. As an act of clemency, sympathy for the victims and their families, and for the restoration of our national pride, we urge them to kindly and immediately release these poor students and return them safely to their parents. Nothing is gained from the suffering of small children and their poor families.”
KACRAN called on all Nigerians, regardless of tribe, religion, political affiliation, or region, to reject all forms of violence. “We must embrace one another as one beloved family and unite to firmly develop an indivisible Nigeria, ensuring that our children and grandchildren inherit a better country.
“Finally, while once more commending President Bola Ahmed Tinubu for his government’s sincerity and total commitment to securing the immediate release of these students, we respectfully request him, as a caring father to all, to accept and urgently implement KACRAN’s comprehensive proposal on how to easily resolve insecurity problems in the North-West and North-Central regions within six months.”
KACRAN Condemns School Kidnappings
News
G20 Summit: President Tinubu Demands Equity In Global Mineral Trade, AI Governance
G20 Summit: President Tinubu Demands Equity In Global Mineral Trade, AI Governance
** Says wealth of critical minerals must translate into shared prosperity in Africa
** Seeks fair handling of global financial flows, recurring debt crises
** Urges world leaders to take bold steps in reforming international financial architecture
By: Our Reporter
President Bola Ahmed Tinubu has called for a global framework that benefits communities hosting critical minerals in Nigeria and Africa, ensuring value addition at the source.
This is coming just as Nigeria also backed the creation of global ethical standards for Artificial Intelligence (AI), aimed at accelerating development across the world.
President Tinubu made the call at the Third Session of the 2025 Group of 20 (G20) Leaders’ Summit, held at the Johannesburg Expo Centre, South Africa, themed “A Fair and Just Future for All: Critical Minerals, Decent Work, Artificial Intelligence.”

The President, who was represented by Vice President Kashim Shettima, highlighted that for Nigeria and Africa, critical minerals are more than natural deposits, as they hold the promise of industrial transformation for the continent.
The Nigerian leader stressed that while the possession of resources alone does not guarantee prosperity, relevant authorities and stakeholders must ensure that the extraction and trade of critical minerals are governed by fairness, transparency, and accountability.
President Tinubu emphasised that such responsible extraction and trade are necessary to ensure that the wealth generated from hosting communities translates into shared progress.
He said: “Nigeria calls for a global framework that promotes value addition at the source, supports local beneficiation, and ensures that communities hosting these resources are not left behind.
The issue before us reaches far beyond the narrow arithmetic of economics and speaks to the moral character of the world we aspire to build.”
The Nigerian leader further stated that as the world advances through green and digital transitions, progress must remain people-centred.

“Decent work is the anchor that makes these transitions fair, inclusive, and sustainable. It is the foundation of development that ensures every person has the opportunity to contribute, thrive, and share in national prosperity,” he added.
President Tinubu disclosed that Nigeria, through the Renewed Hope Agenda, is investing in future-ready skills by empowering Nigerian youths through digital literacy, vocational training, and entrepreneurship.
For a fair and just future, President Tinubu urged G20 leaders to deepen collaboration on technology transfer, capacity building, and inclusive investments that prioritise human dignity over profit alone.
On artificial intelligence, which has immense potential to accelerate development globally, the President said the task before G20 leaders, development partners, and governments is to ensure that AI remains a servant of humanity, not a force that reshapes society at the expense of those it ought to uplift.
According to the Nigerian President: “Nigeria supports the creation of global ethical standards for AI that uphold safety, transparency, and equity,” the President said, adding, “We must ensure that AI becomes a tool of empowerment, not exclusion; of job creation, not displacement.”
To harness AI’s job creation and empowerment potential, the President called for deliberate partnerships between developed and developing nations, between the public and private sectors, and between innovation and inclusion.
“The G20 must therefore address systemic bias and foster sustained multilateral dialogue to ensure that the benefits of AI are shared equitably and its risks responsibly managed,” he added.
The President noted that within a broader vision of shared responsibility and global stewardship, critical minerals, decent work, and artificial intelligence are bound by a single calling, which is to shape an economy that uplifts rather than excludes; an economy that measures its strength not only by growth but by the dignity it affords every human being.
He urged the G20 leaders and partners to build a future where Africa is not merely a supplier of raw materials, but a continent of value creation, innovation, and dignity in work.
Similarly, President Tinubu has asked world leaders to come up with a more equitable and responsive system to manage global financial flows and sincerely address the recurring debt crises in a manner that meets the needs of all nations.
This, he said, had become necessary because many developing countries still grapple with systemic barriers restraining economic growth, as well as weakening trade and limiting financial inclusivity.

The Nigerian leader, who is represented at the global event by his deputy, Vice President Shettima, regretted that the multilateral frameworks, currently being relied on, no longer reflect the complexities of the present world, as the were “built in an era far removed from” the present challenges,
In his statement delivered on his behalf by VP Shettima, the Nigerian President pointed out that this year’s theme of the summit, bordering on “inclusive and sustainable economic growth, trade, financing for development and the debt burden, speaks to the realities of developing nations.”
Demanding a fair deal for Africa and other developing countries of the world, he stated: “For trade to be truly inclusive, the G20 must take bold and deliberate steps towards reforming the international financial architecture and the global institutions that sustain it.
“Only a more equitable and more responsive system can manage global financial flows with fairness, address recurring debt crises with sincerity and meet the needs of all nations, especially those in the Global South who have too often stood at the margins of global opportunity.”
President Tinubu said it would be difficult for Africa to realise a positive paradigm shift “in its development trajectory without a collective resolve of the G20,”
He noted that the continent cannot rise on the wings of aspiration alone without confronting the persistent regional challenges confronting it, particularly “the urgent need for sustainable financing to ensure the effective implementation of our developmental priorities.”
The Nigerian leader observed that rising debt burdens have continued “to drag economies back into cycles of fragility,” transforming “local difficulties into global vulnerabilities.”
Accordingly, he implored the G20 to place debt sustainability and the responsible utilisation of critical minerals at the heart of its agenda for inclusive development.
“The G20 must, in adopting the Leaders’ Declaration, take with utmost seriousness the responsibility to advance policies that drive sustainable growth, promote financial inclusion and confront emerging risks,” he added.
G20 Summit: President Tinubu Demands Equity In Global Mineral Trade, AI Governance
News
Three killed as hoodlums attack hunters, burn huts in Adamawa community
Three killed as hoodlums attack hunters, burn huts in Adamawa community
By: Zagazola Makama
Three persons have been killed after armed hoodlums launched attacks on hunters and residents in Song Local Government Area of Adamawa State, authorities confirmed on Friday.
Sources told Zagazola Makama that the incident began at about 3:20 p.m. when local hunters from Barkin Sajo, under the Miyetti Allah hunters association, pursued suspected cattle rustlers into the Mayo Suno forest.
According to the source, a gun duel ensued between the hunters and the hoodlums, resulting in the death of one of the hunters, identified as Buji Alhaji, 40.
He explained that the attackers later moved to Maigero village, where they set seven thatched huts in the local market ablaze before shooting and killing two residents: Alhaji Haruna and Iliya Dabba.
He said security operatives visited the scene and evacuated the bodies to the Cottage Hospital, Song.
The sources added that efforts were ongoing to track down the perpetrators, while the police Criminal Investigation Department (CID) had been assigned to conduct a discreet investigation into the incident.
End
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