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CSO expresses concern over N250b for fuel subsidy, says it is reason FG went into borrowing

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CSO expresses concern over N250b for fuel subsidy, says it is reason FG went into borrowing

 

Civil Society Organisations in Nigeria operating under the aegis of “Civil Society Coalition for Economic Development (CED) has decried the monthly payment of N250 billion for fuel subsidy.
They further identified the subsidy regime as a major challenge that was forcing the Federal government into external borrowings, while expressing optimism that the end of fuel subsidy would recoup funds into the national treasury well enough for developments.
The coalition expressed the concern that if nothing was done by the Federal government of Nigeria to end the regime, it  would further cause economic catastrophy.
In a 7-point communique after a conference of the Coalition which was held simultaneously in Lagos and Abuja, a copy of which was made available to the Guardian on Friday, the Coalition urged the Federal government to be committed to the planned ending of the fuel subsidy regime, adding that it was the right step towards recovering the nation’s economy.
The Coalition which comprised of 82 Civil Society Coalitions insisted that Nigeria’s economy is being about one of the most volatile in the world, recalling that there was a time a barrel of crude oil was sold for $150, but for the past six years, it has reduced to $60, a situation the group lamented, was unsustainable.
The conference, titled: “Fuel Subsidy Removal in Nigeria”, pointed out, would recycle the economy on the part of productivity and growth, if the amount being paid as cost of fuel subsidies were channelled into provision of infrastructure and other social sectors of the economy.
The communique which was signed by the convener, Com. Yusuf Dan Maitama and the Secretary, Com. Badaru Ayewoh further recommended that fuel subsidy regime should be stopped effective from January, 2022.
Part of the communique reads:  “That the resource persons who are world class researchers in the oil and gas industry extrapolated issues bordering on Nigeria’s oil and gas industry, and identified Nigeria’s major economic challenges as that of active fuel subsidy regime.
“In the group discussions, participants were unanimous that Nigeria was the only country in the world that sustained fuel subsidy regime for the past 20 years.
“The fuel subsidy regime was a capitalist and elitist policy that services only the top-heavy, hence, successive governments found it difficult to implement their economic policies.
“It was pointed out that the Federal government of Nigeria spends N250 billion on fuel subsidy every month. The development, discussants averred was largely responsible for national debts as revenue coming into the Consolidated Revenue Fund (CRF) account are used to settle the fuel subsidy.
The group pleaded with the organised labour not to embark on strike on account of ending subsidies, while they asked the Federal government to forward a budget for N5000 grants to be disbursed to citizens to cushion the effect of fuel subsidy removal in 2022.
“That the Federal Government of Nigeria should end fuel subsidy regime effect from 1st January, 2022 in order the save the sum of N250 billion monthly as the economy of Nigeria has become very fragile given the financial burden orchestrated by the subsidy regime.
“That Nigeria is a monolithic economy  as such, revenue earnings must be jealously guarded and which should be channeled into road construction, power, education, health and development of its youth.
“That the organised labour should be considerate and not to embark on strike action in the circumstance that the Federal government has ended fuel subsidy regime, given the reversal of huge resources back into the Federal government coffers.
“That the Federal government and all stakeholders in the oil and gas industry should strictly enforce the provisions of Petroleum Industry Act (PIA), which came into effect after it was signed into law by President Muhammadu Buhari.
“That the Federal government, private and public sectors should embark on sensitisation of Nigerians on the need for immediate removal of fuel subsidy in order to save the nation from further financial hemorrhage.
“The federal government of Nigeria should forward the budgetary provision of N5000 grant to citizens to cushion the effect of fuel subsidy removal to the two arms of the National Assembly for legislative debate before the passage of 2022 budget.
“The Civil Society Coalition commends the Group Managing Director of Nigeria National Petroleum Corporation (NNPC) Limited for his commitment to the stability of oil and gas industry in Nigeria

Politics

2027: ‘We’ll Win Before 2pm’ – Abia Labour Party Makes Bold Election Prediction

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The Chairman of the Labour Party (LP) in Abia State, Peter Azubuike, has expressed confidence that the party will record a landslide victory in the 2027 general elections, declaring that it would emerge victorious “before 2 p.m.” if the Independent National Electoral Commission (INEC) were to conduct an election today.

Azubuike made the assertion on Monday while addressing journalists at the party’s state secretariat in Umuahia, the Abia State capital.

According to him, the Labour Party has overcome its internal challenges and is now fully united and mobilised ahead of the next general elections.

ALSO READ: JUST IN: Labour Party Bars Northerners, Zones 2027 Presidential Ticket to South

He maintained that the party remains the strongest political force at the grassroots in Abia, pointing to its current political representation across the state as evidence of its popularity.

“If INEC conducts an election today, we will win before 2 p.m. because we are the only political party with a strong grassroots presence. We have 184 councillors, 17 local government chairmen, and 20 members of the Abia State House of Assembly. That is evidence of our widespread acceptance and grassroots support,” Azubuike said.

The LP chairman also defended the party’s adoption of the direct primary system for selecting candidates ahead of the 2027 elections, describing it as a transparent process that promotes fairness and reduces internal disputes.

He dismissed reports suggesting that only one nomination form was sold in some constituencies, insisting that several aspirants contested for party tickets in different areas.

“It is not true that only one form was sold. In several constituencies, multiple aspirants purchased forms. In fact, not all sitting lawmakers secured the ticket. A clear example is the Osisioma/Obingwa/Ugwunagbo Federal Constituency, where the incumbent did not get the return ticket,” he stated.

Azubuike said the party had continued to strengthen its structures from the ward level to the state level and remained optimistic of another overwhelming victory in 2027.

He further stated that the faction of the Labour Party led by Senator Nenadi Usman is the one recognised by INEC, adding that the leadership had already been granted access to the electoral body’s portal for uploading candidates.

The party, he added, remains committed to internal democracy, grassroots mobilisation and effective leadership as preparations intensify for the 2027 general elections.

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2027: We’re Not Afraid of Peter Obi, He Can’t Beat Tinubu in Lagos Again — Sunday Dare

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Nigeria has the best cyclists in Africa - Sunday Dare

Special Adviser to President Bola Tinubu on Media and Public Communications, Sunday Dare, has dismissed claims that the presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, poses any serious political threat to the Tinubu administration ahead of the 2027 general elections.

Speaking during an interview on Mic On Podcast on Saturday, Dare insisted that the Federal Government remains focused on governance rather than political distractions, arguing that its achievements have strengthened its chances of securing another mandate.

ALSO READ: AAC Senatorial Candidate Chioma Ifemeludike Withdraws from 2027 Race

According to him, the administration is confident in its performance and has no reason to fear Obi’s growing political profile.

“This government is not afraid of Peter Obi. At one point, he may have been considered a threat, but today, he is no longer one because we are standing on the solid foundation of our performance,” Dare said.

He maintained that the Tinubu administration has taken deliberate steps to confront Nigeria’s economic and social challenges through policy reforms and strategic interventions.

“We have carefully studied the country’s problems and continue to roll out policies and programmes aimed at addressing them. We also have tangible achievements to show Nigerians,” he added.

Dare also took a swipe at Obi’s public engagements, criticizing his style of responding to national issues and suggesting that some of his interviews fail to provide direct answers to important questions.

“Peter Obi is not a nightmare to this government. If anything, some of his reactions are unnecessarily pedantic. Sometimes you listen to him respond to questions, and instead of giving clear answers, he goes around in circles in a way that leaves many people confused,” he stated.

On the prospects of the 2027 presidential election, Dare expressed confidence that Obi would be unable to repeat his 2023 feat in Lagos, where the former Labour Party presidential candidate defeated Tinubu during the presidential poll.

“Peter Obi defeated President Tinubu in Lagos in 2023, but this is a different political season. He will not defeat Tinubu in Lagos again,” Dare declared.

The comments come amid increasing political conversations over the 2027 general election, with opposition figures intensifying consultations while the ruling administration continues to defend its record in office.

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Osun Violence: APC Breaks Silence, Denies Role in Killings

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The All Progressives Congress (APC) in Osun State has denied allegations linking the party and its governorship candidate, Alhaji Bola Oyebamiji, to the recent wave of political violence rocking the state ahead of the August 15 governorship election.

Speaking in Osogbo on Sunday, APC chieftain and former lawmaker, Olatunbosun Oyintiloye, described the accusations as politically motivated, alleging that some desperate individuals were attempting to damage the party’s reputation for personal and electoral gains.

ALSO READ: Oyo APC Rejects LG Election, Says Makinde Wants to Rule by Proxy After Exit

He maintained that the APC has no connection with any individual or group involved in violence, intimidation, or attacks while claiming to represent the party.

Oyintiloye said the APC remains guided by the Omoluabi philosophy, which promotes integrity, discipline, honesty, justice, accountability, compassion, and selfless service, stressing that violence has never been part of the party’s political culture.

He condemned the recent killings in the state, insisting that no political contest or ambition should result in the loss of innocent lives.

According to him, the party completely rejects violence, lawlessness, and bloodshed in any form, adding that those behind the attacks should immediately abandon such acts because elections should never be decided through fear or violence.

The APC leader further stated that the party does not require intimidation or bloodshed to secure victory at the polls, expressing confidence that it can earn the people’s mandate through peaceful democratic participation.

He also dissociated the APC from anyone using the party’s name to commit criminal acts, warning that such individuals were acting for their own interests and not on behalf of the party.

Oyintiloye reaffirmed that the APC believes in the rule of law, peaceful coexistence, credible elections, and the constitutional right of citizens to freely choose their leaders without intimidation.

He appealed to party supporters, political stakeholders, security agencies, and residents of the state to remain calm, obey the law, and support ongoing investigations into the recent violence.

The APC chieftain also urged security agencies to ensure that those responsible for the killings and other criminal acts are identified and prosecuted, while calling on all political actors to place the peace, unity, and development of Osun State above partisan interests.

He expressed sympathy to families who lost loved ones during the violence and prayed for strength and comfort for those affected by the tragic incidents.

The renewed appeal comes amid rising political tension in Osun State, where a series of violent attacks have claimed several lives as campaigns intensify ahead of the August 15 governorship election.

The Osun State Police Command has, however, assured residents that security operatives are working to restore calm and bring the perpetrators to justice.

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