Nigerians have cried out to President Bola Tinubu that the soaring inflation, necessitating an incredibly high cost of living, is strangulating them, lamenting that they could no longer breathe.
They charged the president to rise up to the rising cost of living, economic hardship and galloping inflation in the country immediately by providing succour to the common Nigerians that have been left behind by the administration.
Dr Isuwa Dogo, Publicity Secretary of the Middle Belt Forum (MBF), Dr Adetokunbo Pearse, Public Affairs Analyst, Convener Reset Lagos PDP, and Chief Goddy Uwazurike, President of Cultural Credibility and Development Initiative (CCDI), a non-governmental organisation, in separate interviews with Saturday Sun noted that life had become increasingly difficult for all Nigerians and unbearable for many since May 29 when the president, at his inauguration, abruptly announced the removal of subsidy on petrol.
Dr Dogo told Saturday Sun: “Nigerians are going through hell in the real sense of it. There is nothing that you buy today and you go back, two days later and the price has not increased. It doesn’t make sense.
“Many people feel that the president should have left the fuel subsidy because everything in the country has been affected by the removal of fuel subsidy and exchange rate.”
Dogo also faulted the wage increase the Federal Government granted workers to cushion the effect of the subsidy removal, noting that it does not cover workers employed by state governments and the private sector.
“When the Federal Government keeps talking about minimum wage increase, they are talking about workers in the employment of the Federal Government. What about workers employed by the state governments and the private sector? They are not covered by that. So who takes care of them,” Dogo queried.
He advised the Federal Government to come up with short, medium and long term measures to address the problem of fuel supply in the country to resolve the soaring prices
For Dr Pearse, the unilateral removal of fuel subsidy created a spiral effect that impacted the cost of every other aspect of the country’s life.
He said: “The removal of subsidy on the day of the president’s inauguration started the downward spiral. Cost of petrol rose by 300 per cent and the cost of everything else followed. Inflation rate increased exponentially. Direct Foreign Investment has shrunk. Companies are folding up and relocating out of Nigeria en masse because of the unsustainable cost of production. As a result of this, the rate of unemployment has risen tremendously, so has poverty. The most dramatic evidence of the failure of the Nigerian economy can be seen in the weakness of the Nigerian currency. When Tinubu took over in May 2023, the United States dollar to the Nigerian Naira was one dollar to N450 in the official market, one dollar to N750 in the parallel market. Six months into Tinubu’s administration, the naira at 750/1, and 1/ 1000 has fallen to its lowest in history. The country’s GDP which grew to be the strongest in Africa in 2014 under Jonathan has also dropped to its lowest level ever. It is no exaggeration to state that the Nigerian economy is in a state of near collapse on Tinubu’s watch.”
Dr Pearse also blasted the Tinubu-led administration for failing in its responsibility to the citizenry in terms of security.
“Every day, we hear harrowing stories of kidnapping, banditry, armed robbery and abduction of travellers, killing of law enforcement officers, abduction of students from schools, terrorists holding farmers ransom and preventing them access to their farms. It’s sad to say, but the bitter truth is that Tinubu’s administration has cast a dark shadow over Nigeria.
“The President is best advised firstly, to admit that he has made some serious errors of judgement. He should reverse the oil subsidy removal. He should go after the corruption in the petroleum industry. This is actually what the IMF recommended, not a unilateral removal of petrol subsidy, an act which is causing untold hardship to citizens and crippling the entire economy. The President should also begin to take responsibility instead of complaining about the bad economy he inherited from the previous administration.
“Since the country’s foreign reserve is at an all-time low, it is imperative to increase revenue. This can be done in a number of ways. Our source of revenue must move away from only crude oil, to include uranium, gold, bauxite, natural gas, bitumen and lithium. We must also stop paying lip service to developing the agriculture sector. A mechanized and modernized agricultural system will not only increase the country’s revenue, it has the potential to decrease the cost of food, and provide employment; especially Youth Employment.
“In order to improve the economy, it will be necessary to raise revenue and also save on what is available. To this end, the President should recover the billions of naira unremitted and uncollected royalties from federal agencies such as FIRS, NIMASA, and NPA.
“President Tinubu should appreciate the need to be frugal during these difficult economic times. He must reduce his lavish lifestyle, such as voting N169 million each for lawmakers’ vehicles and buying expensive yachts. Also, there must be a conscious effort to reduce cost of governance. It is the height of insensitivity to appoint about 50 ministers and hundreds of ministerial and National Assembly aides during these days of austerity. The President must lead by example.
“The President has so far ignored the appalling security situation in the country. In fact he appears overwhelmed by it all. One major policy that can improve the security situation in the country is the devolution of security powers to the states.”
He noted that “a restructured system whereby the states are empowered to establish their own police, community police and neighbourhood police will enhance safety and security throughout the state. It would even have an added value of creating employment.”
Also speaking, Uwazurike said the hunger and frustration in the land was getting out of control.
He said: “The Tinubu government knows that the economy is tottering on the precipice but it chose to pretend that all is well. My advice is simple and direct – get real and be practical. Peter Obi repeatedly analysed the economy and prescribed the solution. Obi said, borrow only for production and not for consumption. He said engage in production for export so that we can earn foreign exchange. Two simple solutions which APC does not want to hear.
“APC government shut the borders and so small scale producers were driven out of business. The multinational manufacturers were chased out due to high cost of production. Tinubu has to look for real manufacturers to discuss with them . Cost of production includes bank loans and access to foreign exchange. Certainty of these two will encourage manufacturers to get back to business. The businesses will employ workers who will earn money. The multiplier effect will increase the ability of the common man to move out of the poverty level which the APC under Buhari drove this country into and which it is defending maliciously under Tinubu.
“The deceit of Trader Money, the distribution of cash to the indigent population and palliative are nothing but highway fraud on the people.
“This government is asking the people to bear the poverty as things will soon improve, but it is buying SUVs, yachts etc for the government people. There is a glass ceiling which separates the governed from the government. We can see the government people clearly even as we are dying from hunger.
“This same APC is busy making sure that the son or daughter of a poor home does not attend the university through exorbitant fees. The artisan treks long distances on empty stomach and those who use generators cannot afford to buy fuel. People are being suffocated by the government and the governed can no longer breathe. Those who engaged in round tripping under Buhari are enjoying their wealth today. Why not go after them?” Uwazurike said.
Credit: Daily Sun