1. Oil is the engine of the Nigerian economy in ways it is not elsewhere.When the price of petrol goes up in Nigeria, everything else goes up-except the measly salaries of everyday Already people. This is not the case in many country clubs. So you can not just arbitrarily jerk up petrol prices and ignore other ITS unsettling effects on other facets of the society.
2. A way bigger than waste the “waste” of petrol subsidy is the humongous monthly Amounts we expend to subsidize the obscene opulence That Nigeria’s political elite-from the president down to a councilor-luxuriate in.Nigerian political elite are the MOST remunerated elites in the world. They even earn more than Their American Counterparts perks. But no one is talking about this subsidy. Comparatively miserly Only the “subsidy” that makes life just a little Easier for the common people is subject to scrutiny.
3. The flyblown acerca de canard why the fraud in the oil subsidy regime justifies discontinuance ITS is disingenuous. It’s government’s Responsibility to catch and stop the fraud. If it can not fix something as basic as fuel subsidy fraud With all the powers and resources at its disposal, the government has no reason to exist. It has no business being in the business of governance. It is conscienceless to transfer the burden of government’s incompetence to the masses Who are Already reeling under the weight of an unbearably crushing existential misery.
4. Every responsible government in the world subsidizes the products use to survive ITS Citizens. State Governments in America collectively spend $ 10 billion to subsidize the fuel consumption of Their Citizens. (Read my column tomorrow for details). The American government Spends $ 20 billion Also every year to subsidize agriculture in what is called “farm income stabilization.” That’s why food is dirt cheap here. And we are talking of the world’s wealthiest country. If anyone tells you America does not subsidize the fuel consumption of Its Citizens, stare him straight in the face and call him a fraud without blinking!
5. Subsidy is not just a moral imperative; Also it’s an existential imperative.If people are left to grapple With the smoldering violence of unchecked capitalism, They Will Either die off (if They are stupid and docile) or the source of revolt Against Their misery (If They are smart and active). There is no middle ground.
6. Increase With the latest, a gallon of petrol is now acerca $ 3 in Nigeria. In the states of Oklahoma, Missouri, Kansas, Texas, Louisiana, and Mississippi, a gallon (4 liters ie) of petrol is less than $ 2. In Georgia, Where I live, it is a little above $ 2. (It was actually less than $ 2 Until a few weeks ago). In California, the state With the highest petrol price in the US, it is $ 2.7. Why Should Nigerians pay $ 3 for a gallon of petrol at a time of a global slump in the price of petrol-and When They are vulnerable state at Their MOST in all indices of life? This neither moral nor Makes logical sense at all.
7. Let’s look at other oil-producing country clubs. In Saudi Arabia a gallon of petrol goes for $ 0.64. In Venezuela it is $ 0.38. In Russia it is $ 0.63. In Algeria, Angola, Ecuador, Iran, Iraq, and Kuwait, it costs less than $ 1. In Qatar it is $ 1.26. In the United Arab Emirates it is $ 1.77. In Canada it is $ 2.
8. Now, look at this: the minimum wage in Algeria is $ 170 per month; in Venezuela it is $ 89 per month; in Saudi Arabia it is $ 720 per month; in Angola it is $ 90.53 per month; in Russia it is $ 95 per month; in Ecuador, it is $ 427 per month; In Iran it is $ 215; in Iraq it is $ 214 per month; In Kuwait it is $ 3.650 per month, and Their Proposed Congress has to raise it to $ 5.300 per month; etc. Qatar and UAE have no official minimum wage really well but They Live.
9. Nigeria’s minimum monthly wage is $ 90 and the government wants the masses to pay $ 3 for a gallon of petrol. That is the highest in OPEC Countries, Which Have vastly higher minimum wages and standards of living than Nigeria. That’s a vicious rape. There’s no way to sugarcoat it.
10. If Nigerians choose to accept esta listless With abandon, it’s Their choice. I am not Directly Affected by esta. Forgive the immodesty, but I have the Means to Increase the monthly allowances of my parents in response to the hyperinflationary conflagration That is sure to follow in the aftermath of esta cruelly insensate punishment of the masses. But what about the millions of people have no alternative WHO, WHO live on less than $ 1 a day, WHO literally vegetate on the very edge of existence?
Since 1970 Gowon 11. When the pump price of Increased petrol from 6 to 8.45 kobo kobo, subsequent Nigerian Governments That Have always insisted subsidies are unsustainable and must be removed for the “benefit” of the people. Just When You Think They Have finally removed the subsidies and would spare the masses the emotional blackmail, They tell us again They need to remove That They Had Told us what They removed.So brace up for another regime of fuel price hikes in the coming years, maybe months, in the name of “deregulation,” “subsidy removal” or suchlike inane mumbo jumbo. It will never end.
12. Why are not we Having a conversation acerca government’s unwillingness or inability to build and Maintain functional refineries, Which will obviate the need for fuel importation and the so-called subsidy?
13. I frankly do not see the benefit in being an oil-producing country if the money accrues to us from That Merely oil subsidizes the epicurean pleasures of the elite while the poor are forced to hold metaphorically cream on Their hands while Their faces are dry. I would be at peace if we pay high prices for petrol Because We do not have it.