Connect with us

News

FUEL SUBSIDY AND PRICE CONTROL- SOLUTION TO ECONOMIC HARDSHIP IN NIGERIA

Published

on

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

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Okada rider killed in suspected robbery attack in Jos East

Published

on

Okada rider killed in suspected robbery attack in Jos East

By: Zagazola Makama

An Okada rider, identified as 30-year-old Moses Inyam, has been killed after he was allegedly attacked and robbed by suspected assailants while returning home in Nabur Dutse Village, Jos East Local Government Area of Plateau State.

Security sources told Zagazola Makama that the incident occurred at about 11:30 a.m. on Sept. 24, 2026, when troops of Sector 1, Sub-Sector 12, responded to a distress report concerning an armed robbery attack in the area.

The source said Inyam, who was reportedly riding home when he was attacked, sustained severe machete wounds during the incident and was dispossessed of an undisclosed amount of money and other valuables.

“Upon arrival at the location, the troops found the victim with machete cuts and immediately evacuated him to the Jos University Teaching Hospital (JUTH) for medical attention.

“He was, however, later confirmed dead by medical personnel,” the source said.

The circumstances of the attack, including the identity and number of the assailants, are still being established.

The security forces have commenced offensive operations and a manhunt for the perpetrators, with efforts ongoing to identify and apprehend those responsible.

Zagazola Makama reports that the incident comes amid continued security concerns in parts of Plateau State, where armed attacks and criminal activities have occasionally targeted commuters, farmers and commercial motorcycle operators.

Security agencies have continued to urge residents to promptly report suspicious movements and provide useful information that could assist ongoing operations.

Okada rider killed in suspected robbery attack in Jos East

Continue Reading

News

Beyond Diplomacy: Nigeria, China Turn Culture Into New Front in Bilateral Ties

Published

on

Beyond Diplomacy: Nigeria, China Turn Culture Into New Front in Bilateral Ties

…Hunan showcase opens fresh push for youth exchanges, creative jobs, tourism

By: Michael Mike

Nigeria and China are seeking to move their expanding bilateral relationship beyond government agreements and economic cooperation, using culture, tourism and the creative economy as new channels for connecting their people and opening opportunities for young Nigerians.

The emerging cultural diplomacy push took centre stage in Abuja on Thursday as Hunan Province brought its performing arts and cultural heritage to Nigeria, with officials calling for sustained exchanges that could produce collaborations, tourism opportunities and jobs in the creative sector.

The showcase, titled “Shared Moon, Shared Moment, Meet in Africa – Hunan Culture and Tourism in Nigeria,” was held at the China Cultural Centre in Abuja, where the Hunan Song and Dance Theater Troupe presented a mix of songs, dances, acrobatics and other artistic performances.

But beyond the colourful performances, the event exposed an emerging dimension of Nigeria-China relations: the use of cultural engagement to build connections between citizens after years of predominantly government and economic-focused interaction.

Speaking at the programme, Cultural Counsellor of the Chinese Embassy and Director of the China Cultural Centre in Nigeria, Yang Jianxin, said cultural exchanges could provide a bridge for Nigerians and Chinese to understand one another beyond official diplomatic channels.

Yang said the Hunan delegation was in Nigeria not simply to display Chinese culture but to create an avenue for mutual learning and people-to-people friendship.

He drew parallels between China’s Mid-Autumn Festival and Nigerian traditions, particularly the emphasis on family, reunion, harmony and peace.

“Although China and Nigeria are thousands of miles apart, our shared appreciation of family, friendship and a better life brings our hearts closer together,” Yang said.

The Chinese cultural official also invoked President Xi Jinping’s Global Civilization Initiative, which advocates respect for civilisational diversity and increased exchanges and mutual learning among cultures.

He used the occasion to showcase Hunan as a potential destination for Nigerian tourists and cultural enthusiasts, noting that the province has three World Heritage sites and nine elements on UNESCO’s Representative List of the Intangible Cultural Heritage of Humanity.

Yang expressed the hope that the exchange would encourage more Nigerians to visit Hunan and experience its heritage and hospitality firsthand.

For Nigeria, however, the cultural engagement also presents an opportunity to turn cultural diplomacy into an economic instrument.

The Permanent Secretary of the Federal Ministry of Arts, Culture and the Creative Economy, Abdulkarim Ozi Ibrahim, represented at the event by Musa Alhamdu, said stronger cultural engagement could generate opportunities for Nigerian creatives while strengthening international relations.

He argued that culture could overcome barriers of language and geography and provide countries with an avenue to discover their shared humanity.

According to him, Nigeria’s cultural diplomacy agenda could promote tourism, creative collaboration, skills development and greater participation of young Nigerians in the global creative economy.

He said Nigeria and China both possessed diverse and deeply rooted cultural traditions spanning music, dance, theatre, visual arts, festivals, crafts, fashion, film and literature.

The emphasis on young people could become particularly significant as Nigeria seeks to expand its creative economy and develop alternative pathways for employment and skills development.

Chairman of the Society of Nigerian Artists, Muhammad Sulaiman, said cultural diplomacy could help convert agreements between governments into relationships between ordinary citizens.

Sulaiman called for more cultural festivals, youth exchanges and joint productions in film, music and the arts, arguing that sustained interaction could generate jobs and opportunities for young people while encouraging mutual respect.

The call effectively places the creative industries alongside traditional diplomatic and economic channels as a potential driver of Nigeria-China relations.

The Abuja event also demonstrated that cultural exchange need not be one-directional. While the Hunan troupe presented Chinese traditions, Nigerian cultural performances were incorporated into the programme, creating a platform for both sides to showcase their identities.

For the organisers and participants, the objective was therefore broader than a single night of entertainment.

It was an attempt to create a sustained cultural bridge linking artists, young people, tourists, creative entrepreneurs and cultural institutions in both countries.

As Nigeria and China continue to strengthen their comprehensive strategic partnership, the Hunan showcase has opened another potential frontier—one in which music, art, tourism and young creative talent become instruments of diplomacy and economic opportunity, rather than merely cultural displays.

Beyond Diplomacy: Nigeria, China Turn Culture Into New Front in Bilateral Ties

Continue Reading

News

NSCDC CG Visits Minna Emir, Families of Dead Detainees, Vows No Shield for Culprits

Published

on

NSCDC CG Visits Minna Emir, Families of Dead Detainees, Vows No Shield for Culprits

….Audi assures presidential panel of full cooperation, says officers in protective custody

By: Michael Mike

The Commandant-General of the Nigeria Security and Civil Defence Corps (NSCDC), Prof. Ahmed Audi, has assured the families of detainees who died in the Corps’ custody in Niger State that no officer found culpable in the incident will be shielded from justice.

Audi gave the assurance during a condolence visit to the Emir of Minna, Alhaji (Dr.) Umar Farouk Bahago, as well as the parents of the deceased and the family of the survivor.

The visit came as the Federal Government continues its investigation into the deaths, with the Presidency having constituted a high-powered committee to establish the circumstances surrounding the incident and determine responsibility.

The NSCDC boss, who personally met with the affected families, expressed condolences over the deaths and acknowledged the grief suffered by the families and the wider community.

He pledged that the Corps would cooperate fully with the presidential investigative committee, stressing that justice and transparency would take precedence over institutional considerations.

Audi said relevant NSCDC personnel had already been placed in protective custody to ensure their availability to investigators and facilitate an unhindered investigation.

“The Corps will not shield anyone found culpable,” the NSCDC chief assured the families, according to a statement by the Corps’ National Public Relations Officer, Babawale Afolabi.

The development marks a further step by the Corps to demonstrate cooperation with the federal investigation into the controversial deaths in custody.

Audi also used the visit to participate in the third- and seventh-day prayers for the deceased, noting the cultural and spiritual importance of the observances to the bereaved Muslim families.

He prayed for the repose of the souls of the deceased and strength for their families as they mourned their loss.

Responding on behalf of the traditional institution and the affected families, the Emir of Minna expressed appreciation to the NSCDC commandant-general for personally visiting the community and identifying with the families during their period of mourning.

The traditional ruler also acknowledged the administrative measures taken by the Corps and Audi’s assurance of cooperation with the presidential investigative committee.

The NSCDC said the visit was intended not only as a condolence gesture but also as an opportunity to reassure the affected families and the public that the circumstances surrounding the deaths would be subjected to investigation.

The Corps maintained that all relevant personnel and records would be made available to the presidential panel as it works to establish the facts surrounding the incident.

NSCDC CG Visits Minna Emir, Families of Dead Detainees, Vows No Shield for Culprits

Continue Reading

Trending

Verified by MonsterInsights