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
News
Bandit kill police operative, cart away service weapon in Bukuyum in Zamfara
Bandit kill police operative, cart away service weapon in Bukuyum in Zamfara
By: Zagazola Makama
A mobile police operative attached to Operation Restore Peace has been killed in an ambush by armed bandits in Adabka village, Bukkuyum Local Government Area of Zamfara State.
Zagazola Makama gathered that the incident occurred on Tuesday at about 11:44 a.m. when the officer, deployed from Mopol 15, Ilorin, left his duty location in Adabka en route to Tibis village to purchase essential supplies.
Security sources in Bukkuyum told Zagazola that the operative was attacked at the outskirts of Adabka by armed bandits concealed in the surrounding bushes.
The attackers reportedly opened fire on the officer, killing him instantly before carting away his service riot gun.
“Field teams deployed to the scene recovered the body of the fallen operative, which was evacuated to Adabka Primary Health Care Centre for documentation,” the source said.
Sources said that the mode of attack aligns with operational tactics used by bandit factions linked to the Dan-Karama Gwaska and Dansadau networks, known for precision ambushes and rapid withdrawal.
Bandit kill police operative, cart away service weapon in Bukuyum in Zamfara
News
GSU’s Public Administration Dept hosts maiden int’l conference
GSU’s Public Administration Dept hosts maiden int’l conference
Stakeholders comprising academics, policymakers, security experts and public-sector practitioners have deliberated ways of tackling insecurity in the country through a multi-faceted approach that includes economic empowerment, improved governance, and enhanced security cooperation.
They made the submission during the maiden International Conference organised by the Department of Public Administration, Gombe State University (GSU).
The conference was declared open on Tuesday by Prof. Sani Ahmed Yauta, the Vice Chancellor of the institution who stated that any engagement aimed at proffering solutions to the security challenges of the country was an engagement borne out of the need to fast-track national development and stability.
Represented by the Deputy Vice Chancellor (Administration) Prof. Danladi Umar, Yauta urged participants to leverage the conference to contribute to ongoing efforts at addressing security challenges so as to enhance peace and development in the country.
In his keynote address, Prof. Ibrahim Abubakar Njodi, Secretary to the Gombe State Government, linked good governance to enhanced security and national development.
Njodi stressed that good governance remained a critical tool to earning citizens’ trust needed to maintain peace and to strengthen development across the country.
He stated that discourse around Nigeria’s governance had become imperative in view of the current security challenges confronting the nation and threatening national development.
He stressed the need for subnational governments to drive national development, adding that they have massive roles to play in determining Nigeria’s progress.
“It is the aggregation of subnational experiences—state successes and failures—that ultimately determines Nigeria’s trajectory.”
Njodi cited the Gombe State governance model and how it had contributed to improvement in human capital development as well as the development of the state and therefore resulting in the peaceful status that the state had enjoyed under Gov Inuwa Yahaya of Gombe State’s leadership.
“The state’s development trajectory under Gov. Yahaya offers a practical demonstration of how visionary leadership, institutional innovation and participatory governance can transform a subnational entity within Nigeria’s federal system.
Speaking earlier, the Head of Public Administration Department, Prof. Matthew Funsho Bello, described the event as historic for both the department and the university.
Bello said that the conference’s theme, “Governance, Insecurity and National Development in Nigeria: Issues and Challenges,” was timely given the complexities of the nation’s socio-economic and security challenges.
“This gathering of distinguished scholars, public-sector experts, policymakers and practitioners from across the country marks a major milestone in our collective quest to address the vexing issues affecting our national life,” he said.
According to him, the theme reflects “the urgent need for academia, security agencies and public-sector experts to engage in constructive dialogue on how addressing insecurity and governance can drive sustainable development in Nigeria.
Security experts amongst other professionals made their presentations during the conference which are expected to form part of the recommendations at the end of the two-day event.
Dr Lawal Abdullahi Oladimeji, the Chairman of the Local Organising Committee of the Conference, lauded all participants and invited guests for the success of the maiden event.
Oladimeji said that recommendations from the conference would be given to relevant stakeholders towards enhancing national security and development.
GSU’s Public Administration Dept hosts maiden int’l conference
News
21 villagers abducted in kano communities as Security forces intensify search operation
21 villagers abducted in kano communities as Security forces intensify search operation
By: Zagazola Makama
Twenty-one persons have been abducted by suspected bandits in three villages of Tsanyawa Local Government Area of Kano State.
Zagazola Makama learnt that the coordinated attacks occurred in Sundu, Biresawa and Masaurari villages.
According to community members, two women were taken from Sundu, while five women and two children were abducted at Biresawa.
In Masaurari, nine men and one woman were reportedly seized, bringing the total number of abducted persons to 21 comprising nine men, eight women and two children.
The Police Command in Kano confirmed the attack noting that efforts had been intensified to rescue all victims unhurt.
The sources added that additional operatives had been deployed to the affected axis, while the area was being combed in collaboration with local vigilance groups and other security agencies.
The command assured residents of its commitment to restoring peace and urged the public to provide credible information that could aid ongoing operations.
21 villagers abducted in kano communities as Security forces intensify search operation
-
News2 years agoRoger Federer’s Shock as DNA Results Reveal Myla and Charlene Are Not His Biological Children
-
Opinions4 years agoTHE PLIGHT OF FARIDA
-
Opinions4 years agoPOLICE CHARGE ROOMS, A MINTING PRESS
-
News2 years agoEYN: Rev. Billi, Distortion of History, and The Living Tamarind Tree
-
News7 months agoFAILED COUP IN BURKINA FASO: HOW TRAORÉ NARROWLY ESCAPED ASSASSINATION PLOT AMID FOREIGN INTERFERENCE CLAIMS
-
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
