Removing subsidies is a must for better Nigeria

Published:

 By Rufa’i Aliyu

In January 2012, the then Government of President Dr. Goodluck Jonathan announced its decision of removing subsidies on Petroleum Products. This translates into a more than 120% increase in PMS price; from N65 to N141. Nigerians from all angles unite against this move and took to the street to show their grievances. I remember as an undergraduate then, we trekked from Bayern University (old site) to Silver Jubilee Square in Kano, Where we were stationed and planned to sleep over until our demands are met. Nigerians have never been United like this as Christians in Kano were seen protecting Muslims against police brutality while saying their prayer and vice-versa.

After one week, five days of protests across the country, the President succumbed and negotiated with labour leaders to accept N97 as the official price of PMS per liter.

Prominent Nigerians within and outside the country participated in this movement. The current President, Muhammad Buhari, who sees subsidy as a scam and corruption, was a leading figure.

Ten years after, Nigeria under the leadership of President Muhammad Buhari is planning to remove subsidy on PMS effective January 2021. This translates to about 90% increase in price; N162 – N340.

Nigeria as a developing Nation can not continue subsiding consumable products like PMS. The country is faced with numerous challenges, this includes insecurity, unemployment, inflation, and corruption. As the biggest economy on the continent, the Federal Government needs to invest more in infrastructure, cut unnecessary spending, and fight corruption. With limited resources, subsidizing consumable products is one of the biggest expenditures with no long term or and ever lasting benefit to Nigerians. There’ll be an increase in prices of all most everything but using the money meant for subsidy in building infrastructure will positively affect the general population and ease their suffering in the long run.

President Buhari is seen as the only leader than can take this decision, despite its effect on the populace, because of the unwavering support he has especially from the North. Had it been Nigerians agreed on the removal of subsidy in 2012, the citizens and Government would not be discussing the matter 10 years after. It’s believed the Government is enriching a few individuals through subsidies by smuggling PMS to neighboring countries where it’s sold at a higher price.

It is high time for Nigerians to accept the sad reality and let the era of subsidy on PMS be gone, for them to have the country of their dream.

Rufa’i Aliyu
rufaleeyu@gmail.com

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