REMOVAL OF SUBSIDY: HIGH LEVEL OF IRRESPONSIBILITY OF THE GOVERNMENT

“Learn from yesterday, live for today, hope for tomorrow, but the important thing is not to stop questioning”. These are words from the greatest scholar and renowned scientist ‘Albert Einstein’.

Before I proceed, let’s jump back to our past and remind ourselves of history. Crude Oil was first discovered in commercial quantity in the year 1956 in Oloibiri in Niger Delta and its commercial production began in the year 1958. Since then crude oil has contributed 85% to our export earnings and more than 40% of the federal government revenue (according to International Monetary Funds (IMF)). Nigeria remains among the top 10 countries with the largest oil reserve and top 3 best oil in the world (due to its low Sulphur content). As at now, its commercial production remains about 2.2million barrels per day. Consequent upon this, Nigeria remains the country with the largest export of oil into the United States thus contributing to over 10% of the total US oil, until July 2014, when the oil export to US was drastically reduced by over 80% due to the shale oil production in America, this then leaves India as the largest consumer of Nigeria oil. Consequently, this greatly reduced the price of crude oil in the labour market thus responsible for the oil doom and economy melt down currently experienced in Nigeria.

Now, over to the subsidy issue, I wonder why on earth is the government paying such an exorbitant price on subsidy when we are blessed abundantly with large reserve of oil. The main reason of this, is because our refineries are not functioning, but the question I keep asking is who should be blame for this? The government or the civilian? In few years back, during GEJ’s administration, Nigeria experience oil boom where crude oil price went as high as more than $100 per barrel yet our government never deem it fit to repair our refineries, instead our excess revenue was being mismanaged and now another cruel government has removed the fuel subsidy because the country is broke and needs enough funds, therefore, is it from the already poor citizen that the government should generate the funds from?
Apparently, subsidy removal was introduced in the year 2012, when the economy of the nation wasn’t this bad, when $1 was equivalent to about 165 naira in the parallel market, when there hasn’t being an increase in VAT rate, when there wasn’t an increase in electricity tariff and when the price of tomatoes was still normal. Subsequently, the same set of people who criticized it then are those supporting it now (when the citizens are already in an untold hardship, when 1$ is equivalent to 365naira in the parallel market, when an average Nigeria cannot afford to eat to his satisfaction because of cost, when various government are owing several months’ salary, when three pieces of tomatoes are being sold for 100naira).

In conlusion, the removal of subsidy has left me with no hope in the current administration. I was formerly a big fan of PMB but my hope in him has been dashed by this unreasonable and irrational decision by the council of executives and I am left with no other option than to believe that this government may actually be a bunch of Liars and Clueless as proposed by some individuals. If not, then why has the APC led government promised to reverse the petroleum price to 45naira but instead, increased it to 145naira? Why did they promise the unemployed youth stipends of 5,000naira when it was obvious the nation could not afford it, only to come out in public and deny it again? Why has PMB refused to make his declaration of assets public after CCB investigation, even though it was part of his campaign promises? All these are strong indications of clueless government. It has therefore become crystal clear, that PMB never made any findings and before making unnecessary promises in the name of campaign and he has no blue print of the way he wants to govern Nigeria before assuming the sensitive post he holds.

Finally, I see this as a clarion call to all Nigerians whose concern has been the betterment of the nation, for a fierce battle against the removal of subsidy. Not until PMB heeds to call of the poor Nigerians whose franchise rights won him his present position, we will not rest our pen just the same way GEJ was compelled to listen to the masses during the 2012 struggle.

#till PMB reverse the fuel subsidy
#i support Occupy Nigeria
#our Resources is our pride, we must enjoy it

A Concerned Nigeria
Abiodun, Sakiru L
Abey.olamilekan@gmail.com