Connect with us

NEWS

Onoh Urges Nigerians To Support Fuel Subsidy Removal, Gives Reasons

Published

on

Onoh Urges Nigerians To Support Fuel Subsidy Removal, Gives Reasons

 

Dr. Josef Onoh, a former spokesperson for President Bola Tinubu in the south east, has emphasized the importance of removing Nigeria’s high expenditure on petroleum subsidy. According to him, redirecting these funds towards other sectors of the economy would directly improve the lives of middle and low-income citizens.

 

Although President Tinubu has not officially announced the withdrawal of the controversial oil subsidy, Dr. Onoh urges Nigerians to consider the actions of other countries, particularly in Africa, that have taken the bold step of eliminating the substantial costs associated with subsidizing the consumption of foreign petroleum products.

 

He highlights that such subsidies often disproportionately benefit the wealthy, who own multiple vehicles, rather than the poor citizens who rely on public transportation systems.

 

Free Research Preview. ChatGPT may produce inaccurate information about peopl

 

Onoh urged Nigerians and whichever groups that are warming up for agitation against the new government of Bola Tinubu to be critical and understand that President Tinubu did not remove the oil subsidy by himself, but should know that no provision was made in the 2023 appropriation to fund the luxury of subsidizing the importation of petroleum products which as at today stands at $867 million or N400 billion every month, for products that are essentially consumed by the upper class or go out the country through smuggling, because the products are cheaper in Nigeria than its neighboring countries.

 

Onoh cited other African countries that had done away with oil subsidy such as Ghana that was spending $25.6 million every two weeks on fuel subsidy before the country cut off the strangulating yoke and had become free and stable after the old Gold Coast liberated itself from the subsidy bondage.

 

He also made a comparison with Republic of Cameroon which removed subsidy on oil and deregulated its markets, adding that even Nigeria experts such as the President of African Development Bank (ADB), Dr. Akinwumi Adesina had also prescribed the removal of oil subsidy with its high cost on the Nigerian economy of $10 billion in 2022.

 

Citing more instances of other African countries that have made testimonies of their break through with the removal of subsidy in oil, Onoh gave the example of Egypt which in 2019 broke off completely with the subsidy oppression and implemented an International Monetary Fund (IMF) economic overhaul template, even when gasoline, diesel and kerosene were sold at 85 to 90 percent international cost within Egypt before it completely broke the yoke and liberated the country from the economic strangulation.

 

Onoh said that it was not only Tinubu who agreed that subsidy on oil should be removed, recalling that during electioneering campaign period and debates, all the presidential candidates of different political parties supported removal of oil subsidy.

 

“Ghana removed the subsidy after 30 years, and if you look at the progress and the economic stability in the present day Ghana, Nigerians will know that we cannot continue with oil subsidy at the detriment of our economic stability. Both the rich and the poor will face hardship but we should look at the collected benefit rather than the immediate hardship.

 

“There is no other way because we are caught in-between the devil and the deep blue sea. There is no way we can continue benefiting the rich while the poor get poorer. The only way we can have a balanced economy is when even the poor can have access to these basic needs. In the short term, the removal will cause panic but the cabals behind the refusal to remove the fuel subsidy are the greatest beneficiaries of that subsidy.

 

“So, they will play in the minds of the innocent poor, trying to make it look as if the government is against the poor, but the Tinubu administration is eager to balance our economy just like other countries have done. We should sustain that confidence,” Onoh said.

 

He noted that Canadian government, United Kingdom, the United States of America and other foreign countries will all show more confidence in the Nigeria economy.

 

“But we also need to show that we want our economy to grow and we cannot continue to rely on half term measures, riding on a Tiger’s back, not thinking it could as well turn around to kill us. So we should back this administration.

 

“The test of our Progress is not whether we avoid temporarily removing the fuel subsidy out of fear of hardship for Nigerians which in turn will add to the abundance of those who have much and beneficiaries of the subsidy, rather it is whether the current administration provides enough after it’s removal for those who have too little,”Onoh encouraged.

4 Comments
0 0 votes
Article Rating
Subscribe
Notify of
4 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
Megac4 สล็อตน้องใหม่ เขย่าวงการ slot free online

900068 342740A genuinely fascinating read, I may effectively not agree entirely, but you do make some quite legitimate factors. 242783

123bet เข้าสู่ระบบ

260947 599814I was suggested this internet site by my cousin. Im not positive whether this post is written by him as no one else know such detailed about my trouble. You are amazing! Thanks! xrumer 8277

ระบบเทรด ea forex

32650 583016Spot lets start work on this write-up, I really believe this remarkable site requirements much much more consideration. Ill apt to be once once more to read a great deal a lot more, numerous thanks for that information. 80065

เอเจนซี่ศัลยกรรมจีน

513589 912761Spot on with this write-up, I truly feel this web site needs considerably much more consideration. Ill probably be once again to read a lot more, thanks for that information. 935242

NEWS

Abdulhamid Kabara Takes Over as New NSCDC Niger Commandant

Published

on

The newly redeployed State Commandant of the Nigeria Security and Civil Defence Corps (NSCDC), Niger State Command, Commandant Abdulhamid Salisu Kabara, has assumed duty and taken over the leadership of the command.

Kabara took over from Commandant Suberu Siyaka Aniviye, who was suspended following the deaths of 37 persons arrested in connection with suspected illegal mining activities in the state.

ALSO READ: How Can 37 Suspected Illegal Miners Die in Gov’t Custody? Nigerians Demand Answers

The development was contained in a statement signed by the NSCDC Niger State Command spokesperson, DSC Abubakar Rabiu Muti on Saturday.

According to the statement, Kabara’s assumption of office comes at a particularly sensitive period for the command following the deaths of the 37 persons in custody.

The new commandant expressed deep sadness over the loss of lives and extended his heartfelt sympathy to the families of the deceased and everyone affected by the incident.

Kabara stressed that while the NSCDC remains committed to its statutory responsibilities, including arrest, investigation, enforcement and the fight against illegal mining, the sanctity of human life must remain paramount.

 

Continue Reading

NEWS

Tinubu Sets October 1 Deadline for Lower Transport Fares Nationwide

Published

on

President Bola Ahmed Tinubu has directed state governments and stakeholders in the transport sector to intensify efforts to ensure lower transportation fares for Nigerians from October 1, 2026.

The President’s directive was contained in a statement issued on Saturday by his Special Adviser on Information and Strategy, Bayo Onanuga, on the National Affordable CNG Transit Programme.

Tinubu said he met with the governors of the 36 states on August 27, where they agreed on the objective of ensuring that more Nigerians begin to see measurable reductions in transportation costs from October 1.

SEE ALSO: ‘Calling Tinubu Bola, Giving Him Orders Is Insolence’ — Sunday Dare Blasts Atiku

Following the meeting, an implementation committee was established under the auspices of the Nigeria Governors’ Forum and chaired by Kwara State Governor, AbdulRahman AbdulRazaq.

The President said the committee, PI-CNG and EV, state governments and other stakeholders were already working to identify priority transport corridors, determine appropriate interventions and put the necessary arrangements in place.

He said the ongoing global energy crisis had made the initiative more urgent, adding that several states had already demonstrated how cheaper energy could translate into lower transportation costs.

In Borno, Tinubu said CNG-powered and electric public transport services were moving commuters for between ₦50 and ₦100 on routes where commercial operators charge between ₦300 and ₦600.

He said Kaduna’s 100 CNG-powered buses provided free transportation on major routes and carried about 3.2 million passengers in their first year, saving commuters more than ₦3.5 billion in transport costs.

According to the President, CNG buses deployed to Pacesetter Transport in Oyo State reduced the Lagos–Ibadan fare from about ₦8,000 to ₦3,200 during the initial deployment.

He added that alternative-energy transit services in Adamawa had cut fares by as much as 50 per cent, from ₦8,000 to ₦4,000.
In Enugu, Tinubu said the deployment of 100 CNG buses reduced the Enugu–Nsukka fare from ₦2,500 to ₦1,500.

He also disclosed that government-supported buses in Plateau transport about 13,000 commuters daily at ₦200, compared with more than ₦500 charged by commercial operators.

Through the Federal Government’s partnership with the National Union of Road Transport Workers, passengers using CNG-converted commercial vehicles on several Abuja routes are also benefiting from a 40 per cent fare reduction.

Tinubu cited the Area 1–Gwagwalada route, where fares have dropped from ₦1,500 to ₦900, while fares from Nyanya have fallen from ₦700 to ₦420 and Wuse from ₦400 to ₦240.

In Niger State, passengers on the Suleja–Abuja route now pay ₦550 compared with about ₦800, while Abia State has deployed 40 electric buses with fares subsidised by 50 per cent.

“These are not projections. Nigerians are already experiencing these savings,” Tinubu said.

The President said disruptions to global energy supplies were putting pressure on petrol and diesel prices and increasing transportation costs worldwide.

He noted that while Nigeria could not control developments in global energy markets, its natural gas resources could help reduce the country’s exposure to such shocks.

Tinubu said his administration had, over the past three years, invested in developing a CNG transportation ecosystem across the country.

According to him, more than 120,000 vehicles have been converted to CNG, while the country now has over 400 certified conversion centres and more than 90 CNG refuelling stations.

The President also rejected calls for a return to the petrol subsidy regime, saying the policy had consumed trillions of naira and left the economy exposed to movements in international oil prices.

He instead urged states to accelerate the adoption of cheaper energy alternatives.
Tinubu said Edo currently has 50 CNG buses in active service, while Kano has converted more than 1,000 commercial vehicles and is expanding its conversion and refuelling network.

He added that Delta, Kwara and Lagos were expanding CNG-supported transport services, while Akwa Ibom had taken delivery of 50 CNG buses ahead of commercial operations.

The President urged all states to maintain momentum towards October 1 by working with transport unions and commercial operators, supporting vehicle conversion and fleet deployment, and facilitating the infrastructure required.

“Above all, ensure that savings from cheaper energy reach Nigerian citizens through lower fares,” Tinubu said.

He assured that the Federal Government would continue to support the expansion of CNG infrastructure and conversion capacity while creating an enabling environment for states, transport operators, manufacturers and private investors.

“Nigeria has the gas. We are building the infrastructure. We are already seeing the savings,” Tinubu said.

“Now we must move faster and scale this so more Nigerians feel those savings in the fares they pay every day.”

Continue Reading

NEWS

‘We Don’t Fix Pump Prices’ — NMDPRA Breaks Silence on Rising Petrol Prices

Published

on

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has clarified that it does not determine or fix the pump prices of Premium Motor Spirit (PMS), commonly known as petrol.

The Authority made this known in a statement on Saturday amid concerns over the recent increase in petrol prices and the financial pressure it has placed on households, transport workers and businesses across the country.

The NMDPRA said it was “fully sensitive” to the difficulties being experienced by Nigerians, adding that it remained committed to seeing relief as market conditions stabilise.

SEE ALSO: Spike in Petrol Price Moves NLC to Demands Emergency Palliatives

According to the regulator, the Petroleum Industry Act (PIA) 2021 provides the legal framework for petrol pricing.

It said Section 205(1) of the Act stipulates that wholesale and retail prices of petroleum products shall be based on unrestricted free-market pricing conditions.

The Authority therefore stated that it does not fix pump prices or issue administrative price templates.

It explained that government intervention in petroleum pricing under Sections 205(2)–(4) of the PIA is restricted to exceptional circumstances where there is formal evidence of a declared market failure.

The NMDPRA noted that no such market failure has been declared.

It, however, said Section 216 of the PIA empowers the Authority to prevent anti-competitive practices, price-fixing and abuse of market dominance.

Border Surveillance

The regulator also disclosed that it is working with the Nigeria Customs Service and other relevant security agencies to intensify surveillance along border corridors.

According to the Authority, the move is aimed at curbing the illegal cross-border diversion and smuggling of petroleum products and supporting supply stability.

Consumer Protection

The NMDPRA stressed that deregulation does not exempt petroleum operators from regulatory compliance or fair-trade standards.

It said it was collaborating with the Federal Competition and Consumer Protection Commission (FCCPC) under an existing Memorandum of Understanding to monitor the market for price-gouging, collusion, under-dispensing and compromised product quality.

The Authority further announced plans to open dedicated feedback and reporting channels for members of the public and industry stakeholders to report irregular pricing and exploitative trade practices.

It said such reports would be subjected to regulatory investigation and enforcement where necessary.

The NMDPRA reaffirmed its commitment to ensuring energy security, promoting fair competition and protecting consumers within the legal framework established by the Petroleum Industry Act.

Continue Reading

Copyright © 2022. Biztellers, powered by Alphaxristi.

4
0
Would love your thoughts, please comment.x
()
x