Editorial

Tough times for Nigerians

THESE are definitely harrowing times for Nigerians. Buffeted on all sides by the indices of bad governance, including widespread insecurity, poverty and degradation, they are lamenting the appalling conditions in which they have been trapped for a long time and the failure of government to guarantee relief. Since the Bola Tinubu-led administration announced the removal of fuel subsidy in his May 29 inaugural address, Nigerians hitherto grappling with poverty have become poorer and sadder. The address shot the price of Premium Motor Spirit (PMS) from N195 to N500. But that was only the beginning of hard times, as a subsequent price adjustment, ostensibly in response to the global market, took the price of PMS to N617 per litre. A motorist lamented on social media that it cost him N15,000 to fill his car’s tank in May; N45,000 in June, and N55,000 in July. Terrible!

As a matter of fact, oil industry and economic experts have urged the Federal Government to intervene in the foreign exchange market and contain the rising price of petrol, which they say could hit N1000 per litre very soon, compounding the woes of Nigerians. Their argument is that allowing only market forces to determine the value of the naira could spell doom. To check the rising cost of fuel, they urged the government to, in the interim, give petrol importers special concessionary forex rates, fix all the local refineries so that petroleum products could be refined locally, and ensure that modular refineries are established in the country to augment the shortfall that may arise from the regular refineries. They also called on the government to curb oil theft in order to meet the country’s production quota set by the Organisation of Petroleum Producing Countries (OPEC), and consequently boost the country’s foreign exchange earnings. These are, we believe, commonsensical recommendations.

Following the removal of subsidy, which was not accompanied by any palliative measures, the government has been supervising a regime of price increases on various levels. For instance, the Federal Government announced that Nigerians are now to pay N1,000 for the proof of ownership certificate on their car documents, and this came on the heels of the tripling of motor insurance costs by the immediate past administration. The Federal Government also announced an upward review of fees for new entrants in all Federal Government Colleges, also known as federal unity colleges, from ₦45,000 to ₦100,000, putting parents in a perilous position. Thereafter, indications emerged that the Ivory Towers would follow suit. Authorities at the University of Lagos announced a regime of new fees for students of the institution, citing the rising costs of operation. Thus, students of the institution who previously paid N19,000 will now pay between N140,250 and N190,250 depending on their course of study. In the coming days, students of other universities will learn how much they are expected to pay as the authorities respond to the current situation. In any case, private school owners in every part of the country have announced upward reviews of fees, further worsening the plight of Nigerians bearing the brunt of subsidy removal.

Everywhere you turn, it is a tale of rising prices, and so it is no surprise that the prices of foodstuff have gone through the roof, and Nigerians are in a desperate mood. From the universities to markets, banking halls and churches and mosques, the regime of trekking foisted on Nigerians by the fuel situation is taking its toll, even as many harp mischievously on the health benefits. Many people arrive at their offices virtually exhausted from trekking, many are engaging in car pooling, and tales of woe are manifold across a broad spectrum of the society. To say there is a lot of suffering in the land is to put it very mildly. The fuel subsidy removal, floating of the naira, imposition of proof of ownership levy and rising inflation have put the masses in a tailspin. Indeed, there is no denying that the condition of living for most Nigerians has continued to deteriorate since the beginning of the year. With the harrowing experience imposed by the ill-advised currency redesign programme ushering Nigerians into a year of suffering, subsequent policies, including the indiscriminate imposition of taxes by the present government, life has become not just harsh but glaringly unbearable for the majority of Nigerians.

Given this scenario, it is imperative that federal and state governments recognise the suffering in the land and take pragmatic measures that can bring relief to Nigerians. Sadly, it seems that the government is clueless about what to do to restore some sense of stable living. It resorted to the unproductive template of conditional cash transfer to so-called poor people which the Muhammadu Buhari government used to further impoverish the people by mismanaging the huge resources voted for the vacuous exercise, and only backtracked after public outrage. We expect the government to urgently arrest the current privation in the land. Nigerians are suffering and it is the responsibility of the government to attend to their welfare.

We hope that the government will see arresting the increasing privation of Nigerians as its most urgent task and quickly act in concrete ways to bring them sustainable relief.

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