How Nigeria Can Survive N617 Per Litre Fuel Price

By Kemi Yesufu

My post is inspired by my Obidient friends who in response to the new N617 per litre price, are saying the torrential rain falling is beating all Nigerians including those who voted PBAT.

All 3 main presidential candidates said at different points that fuel subsidy has to go. It’s been an idea most economists, the media, development partners, donor agencies and administrators have spoken about.
Why do you guys think people, especially those who could have campaigned against the new policy are quiet, even NLC and TUC are approaching the problem differently.
The real issues are FG and states being transparent and honest for the first time by joining the people in adjusting their belts. No more bigmanism in government, our leaders must lead in cutting down on expenditure in the topmost echelon of government and start the real hard work to reposition the economy. Key to this is the FG and state implementing modern and transparent, yet, humane policies on revenue generation.
I don’t know about states but I watched President Tinubu’s Special Adviser on revenue generation on Channels TV recently and he wasn’t impressive, he sounded like a political spokesman rather than a technocrat who has the magic wand. I switched channels and tried very hard to manage my disappointment and subsequent fear for Nigeria because the country must improve and better manage revenue or it will sink.

Which also will Tinubu appoint as part of his economic team especially its arrowheads like the minister for finance, CBN Governor and budget chief. Some of the names being speculated are so called starboy associates to the President. But I would advise that the President adopts the OBJ and GEJ model by employing outstanding individuals with minds of their own and clear-cut models on fiscal and monetary management. Person who will better manage the nation’s economy even if he has not met them ever before.
FG and states should find a way to cushion the effect of the subsidiary removal through effective policies, new ideas like e-governance, improved revenue generation, better quality of social services with improved access to these services. Thank goodness the people are more involved and it shows with the rejection of the planned 8k monthly money transfers to poor families. The people are tired of tokenism and simplistic ideas that shouldn’t come from those who claim to be qualified to govern Nigeria.

FG must as a matter of survival help the people return to the land and be able to move their farm produce without fear by executing a multi-sectorial (mid and long term) security plan which will decimate these gangs of kidnappers, bandits, unknown gun men and terrorists. Chief to securing Nigeria is properly manning our borders and declaring a massive clean up of small arms and light weapons.
How also can the FG diversify the economy, same for states? These non-oil sectors have proven to be hood at creating jobs and better opportunities especially for young people.

Will the Tinubu Administration have the nerve to update and implement the Oransanye report?

What will PBAT do about Nigeria’s investment in Dangote’s refinery which is supposed to help cushion the effect of international oil prices through local production?
How much longer can the country as an investor wait for Dangote to start . Why haven’t the licensed modular refineries started production?
Can FG find means of mainstreaming illegal refineries as a double barrel approach to reducing oil theft, improving local production and reducing the damage to environment?

May Nigerians remain even more vigilant as we survive the new realities.


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