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EDITORIAL

Hardship: Time to Reverse Lopsided Reforms

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That poverty-stricken Nigerians are dying needlessly daily as a result of hunger and depression is no longer news. No thanks to multidimensional poverty, poor mental health and lack of affordable health care ravaging the land.

There is galloping inflation, occasioned by haphazard policies of the Tinubu-led administration; particularly the abrupt removal of fuel subsidy.

To worsen matters, there is widespread and excruciating starvation and hardship which is gradually choking and snuffing life out of many Nigerians.

The situation has deteriorated to an abysmal level that urban and rural poor can no longer afford high prices of foodstuffs and commodities in the market and this is a serious source of concern.

On the other hand, the rich are not finding it easy either, because of mounting requests for assistance from the down-trodden. Worst hit by the economic crisis are household consumables. To eat once a day in most homes today is a luxury.

 All is not well in Nigeria. Yet, the political class enjoying jumbo pay and bogus government allowances have continued to urge the Nigerians to exercise patience, insisting there is “renewed hope”. Alas, what is in existence is hopelessness and hunger in the land.

According to the National Bureau of Statistics (NBS), in Sept., food inflation increased to 32.72 percent from 23.67 percent in the corresponding year, an unfortunate reality largely due to the sudden fuel subsidy removal by President Bola Tinubu. Instructively, Vice President Kashim Shettima admitted during the recent Nigerian Economic Summit in Abuja that some of the economic reforms of the present administration have been painful, though  inevitable.

According to the Vice President, many other nations like Nigeria were experiencing significant economic problems over the past few years.

 “Nigeria’s growth trajectory has been volatile, heavily dependent on oil revenue and unable to create enough jobs to keep pace with our rapidly growing population. As a nation, we must prioritize economic diversification.

“Considering this, the present administration, through the Renewal Hope Agenda has embarked on bold and courageous reforms designed to create an environment that fosters sustainable economic growth and shared prosperity, though painful at the moment. Our focus is on sectors that can offer inclusive and sustainable growth such as agriculture, manufacturing and the digital economy,” he explained.

While commending the Nigerian Economic Summit Group (NESG) for being in the forefront of helping the government by creating a platform for meaningful conversation on the economy, he said the opportunity has made it imperative to halt the catastrophe before it consumes the country.

Despite the fact that the recent figures from the NBS show that inflation fell to 33.40 percent in the month of June, the reality is that inflation is still driving up the prices of essential commodities like food and petrol, thereby exacerbating the hardship and hunger ravaging the urban and rural poor, as small increases in the cost of basic goods and foodstuffs impact negatively on low-income families.

Although records show that food inflation has slightly decreased to 39.53 percent from 40.87 percent, as a result of harvesting period, the slight reduction has not translated into lower prices in the market.

Nigerians are of the common view that the avoidable economic downturn in the country, owes much to the unprecedented devaluation of the naira – a direct consequence of high inflation – which has reduced low-income families to unimaginable levels of desperation and destitution; to the extent that those caught up in this web are now sacrificing essential needs like their children’s education and often times healthcare just to live from hand to mouth.

It is fair to state categorically that the removal of fuel subsidy has really brought about untold hardship to millions of Nigerians because fuel price hike has driven up the prices of goods and services throughout the country.

Despite the monumental corruption in the oil sector vis-a-vis the so-called subsidy regime, the greatest victims of subsidy removal are the masses. This is because fuel is the essential ingredient that drives and revolves round most activities in the country, ranging from transportation, small and medium scale enterprises, petty businesses, technology and tourism.

During the campaign to remove the subsidy, the issue that elicited a lot of concern was federal government’s inability to identify and penalize those benefiting from the fraud called fuel subsidy.

No matter the level of corruption in the oil industry, the Nigerian Midstream and Downstream Regulatory Authority (NMDPRA), the drivers of the reforms in the sector in collaboration with Nigerian National Petroleum Company Limited (NNPCL), should have been able to stop the payment of subsidies to the faceless importers of petroleum products and channel the resources into the provision of infrastructure and employment for the benefit of the people, rather than outright removal of the subsidy, a move which has dealt a major blow to the nation’s economy.

Halting the hardship in the country and reviving an economy which is contending with high fiscal deficits, low Gross Domestic Product (GDP) and high inflation are as complex and challenging as fighting corruption in a nation like Nigeria. But it can be achieved if the government becomes more strategic and intentional in its game plan to reverse the ugly trend.

If there is (political) will, there must be a way. The popular refrain among government officials is that Nigeria is not the only country passing through economic hardship. That is not far from the truth but mouthing such excuses without marshaling any action plan for sustainable economic growth could be suicidal.

The federal government has consistently appealed to Nigerians to tighten-up their belts and they have complied and are still complying. Surprisingly, top government officials are not practising what they are preaching, whereas more than a 100 million Nigerians living in extreme poverty are subjected to unbearable austerity measures.

A government that fails to encourage and promote transparency and accountability does not have the legal and moral justification to urge people to continue tightening-up their belts. There is an urgent and compelling need for the federal government to implement the much orchestrated fiscal discipline by reducing non-essential government spending and improving the effectiveness of public infrastructure, security and welfare of the citizenry.

Unless and until the government stops its unnecessary lip service of insisting that Nigeria is on the path to progress and urgently reduces its over reliance on oil exports and promote other critical sectors like agriculture, manufacturing and technology, the much needed economic revival would remain nothing but a dream.

Again, Small and Medium-sized Enterprises (SMEAs) must receive the support of government as this would foster entrepreneurship and innovation. But without power such expectations are impossible. Sadly, the crisis in the power sector is not going away. Instead, the growing challenge has overwhelmed the present administration just as those before it.

DAILY ASSET strongly believes that addressing inflation, the fallout of which is the untold hardship Nigerians are experiencing today, requires a frontal and comprehensive approach from the federal government rather than the lopsided reforms that encourage wasteful spending to the detriment of the masses.

For instance, government cannot overhaul and fix its moribund refineries which have gulped over $25 billion in the last 27 years but can unilaterally jack up prices of petroleum products, the way it did under subsidy removal.

Similarly government must not arbitrarily raise cost of electricity and other taxes without addressing epileptic power supply and other associated challenges.

There must be a complex balance of pragmatism and sustained commitment to promote, sustain and consolidate economic stability, growth and productivity.

EDITORIAL

A Word of Caution to the Nigerian Senate

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In concrete terms, the National Assembly is supposed to be the bastion of the nation’s democracy or what political pundits refer to as the engine of the constitutional system of government. In other words, without the National Assembly there is no democracy. With the return of democratic rule in 1999, Nigeria has had ten consecutive legislatures spanning a period of 26 years.

Nigeria operates a Bi-cameral legislature; made up of two Independent Chambers; the Senate and the House of Representatives.

Despite teething problems – ranging from the removal of various Senate Presidents and Speakers since the commencement of 4th Republic in 1999, the National Assembly could be described as a baby learning how to crawl, stand and walk in the 26 years of its existence.

Of course, initially the excuse was that Nigeria was still a nascent democracy. The Nigerian Parliament right from inception had robust and historic developments which date back to the colonial and post-colonial independence but from whichever angle one looks at it, the 4th Republic has a huge legislative responsibility to perform its role as the foremost representatives of the Nigerian people by conscientiously performing its oversight functions and carrying out its core mandate.

Not only that, the lawmakers must not operate as if they are rubber stamps to the  executive. By and large, the Senate as the upper chamber of Nigeria’s bicameral legislature is the nation’s legislature and has the power to make laws, as summarized in chapter one, section four of the 1999 Constitution of Nigeria as amended.

The Senate, referred to as the Red Chamber, is made up of 109 Senators representing three Senatorial Districts of each of the 36 states of the federation. Membership of the Chamber is based on equal representation. It is led by the Senate President and his Deputy (President of the Senate and Deputy President of the Senate) as well as principal officers namely Senate Leader and his Deputy, Minority Leader and his Deputy, Chief Whip and his Deputy as well as Minority Whip and his Deputy.

While the House of Representatives also known as the Green Chamber is made up of 360 Federal Representatives. Each member represents one Federal Constituency of Nigeria. The number of Constituencies per State varies since population strength is the criteria used to determine the number of each State’s Federal Constituencies.

The Green Chamber is led by the Speaker and assisted by the Deputy Speaker along with eight Principal Officers that include Majority Leader, Deputy Majority Leader, Minority Leader, Deputy Minority Leader, Chief Whip, Deputy Chief Whip, Minority Whip and Deputy Minority Whip.

The National Assembly is constitutionally vested with several functions. Prominent among them are lawmaking, representation, oversight and a host of others. Accordingly, the apex parliament operates the committee system. Both chambers of the nation’s highest law-making body appoint members into its Special and Standing Committees. The committees have the role of studying and researching Bills, Motions and other Legislative proposals referred to it and report its findings to the Whole Chamber.

Essentially, the major function of the Parliament, apart from its oversight functions, is to ensure that there are checks and balances within the executive and judiciary arms of government. Which is why the parliamentarian is expected to conduct himself or herself with the highest decorum, responsibility and integrity, but unfortunately the 10th Senate under the presidency Godswill Akpabio is shrouded in controversies, mudslinging, unnecessary bickering and wranglings an unfortunate development which has painted the red chamber in bad light and by extension the entire National Assembly.

Senator Natasha Akpoti-Uduaghan, who represents Kogi Central in the Senate would readily come to mind for explicit sexual harassment allegations against the Senate President, Godswill Akpabio.

Akpoti-Uduaghan before her suspension from the Senate told the world how Senator Akpobio allegedly made inappropriate and suggestive remarks and gestures towards her in the presence of other senators and her husband.

The Nigerian Senate, apparently not wanting to be distracted or bogged down by the tantrums, has since shrugged off the heat generated by Senator Akpoti-Uduaghan’s six months suspension from the Senate and her far- reaching accusations against Senator Akpabio, with a vote of confidence. But the crisis in the Senate persists, the latest being the move by some so called concerned Kogi citizens and women groups to recall Senator Akpoti-Uduaghan.

However, her suspension has raised legal debates within Nigeria’s political establishment. With past judicial rulings against prolonged suspensions, her case raises important questions about the limits of the Senate’s disciplinary powers, the protection of lawmakers’ rights, and the broader implications for democratic governance.

Apart from suspending Akpoti-Uduaghan for six months, the upper chamber also withdrew her security aides, locked her Senate office, suspended her salary and allowances, and banned her from entering the National Assembly premises. Critics questioned whether her punishment was merely a disciplinary action or a politically motivated attempt to silence her.

DAILY ASSET is of the opinion that the unending crisis in the Senate about sexual harassment and bribery allegations – following the declaration of state of emergency in Rivers state – are enough distractions to prevent the lawmakers from performing their duties, a setback which is not good for the nation’s fledgling democracy. It is high time the Senate took its mandate of truly representing the electorate more seriously.

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EDITORIAL

Time to Liberate and Resettle IDPs in Nigeria

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It is extremely troubling that despite the many efforts put in place by both the federal and state governments to give some succour to Internally Displaced Persons (IDPs) in the country, the situation in their camps has remained very pathetic and precarious. It is degenerating into humanitarian crisis of major proportion, if adequate steps are not taken to arrest the situation.

The number of IDPs in North Central States are: Benue 183,201, Kogi 16,043, Kwara 5,338, Nasarawa 11,051, Niger State 17,054 and Plateau State 133,302.

In the North-East States are: Adamawa 138,385, Bauchi 53,081, Borno 1,444,971, Gombe 21,087, Taraba 49,232 and Yobe 143,974.

In the North-West States are: Jigawa 15,414, Kaduna 214,272, Kano 15,414, Katsina 43,969, Kebbi 3,340, Sokoto 12,672 and Zamfara 125,506.

The figures are from the Displacement Tracking Matrix (DTM) reports published by the International Organization for Migration (IOM) Nigeria that monitors displacement and population mobility in March 2024, and the numbers might have increased since then.

In most states, herdsmen attacks on farmers, banditry and terrorists killings trigger the displacement of indigenes, a reality that seems to be overstretching the security agencies but which must be tackled frontally.

The questions to ask are: Why has it been impossible for the security agencies to keep these bandits terrorizing innocent citizens in their communities at bay?  Why are the steps being taken from time to time to end the crisis not yielding positive results?

In a move to change the pitiable situation of IDPs, the Borno state government on 25, February 2024 began the closure of all informal camps for IDPs in Maiduguri and its environs with a plan to close all the camps in due course. At a ceremony during the official closure of the Kawar Maila camp in Maiduguri Governor Babagana Zulum said it had become necessary to close all camps and return thousands of people displaced by the conflict in north-east Nigeria to their ancestral homes to reduce their dependency on government and non-governmental organisations. Thus the state has closed most of the official camps in Maiduguri and its environs.

Following the closure of the camps, the governor relocated some people from the Kawar Maila camp to the newly constructed 500 housing estate in Dalori town in Konduga Local Government Area. The new estate is equipped with a hospital, school and irrigation facilities to re-engage the returnees.

The Borno state government, with assistance from international development partners has been supporting the return of more IDPs from various camps in the state to their respective homes.

This Borno initiative is helping to decongest overcrowded settlements that have degraded the quality of lives in the camps.

The federal government should move swiftly to assist the states to resettle IDPs back to their ancestral homes.  Recall that in 2018, the then Vice President Yemi Osinbajo pledged that the federal government would spend 10 billion Naira to rebuild houses for people displaced by herdsmen in Benue State. The pledge was made during his visit to the IDPs camp at Abagena, near Makurdi, in Benue state. He said the funds were approved to rebuild destroyed areas in Benue and other states affected by the crisis. It is not known how much of these funds have so far been released and utilized for the intended purpose.

DAILY ASSET is of the view that since IDPs are no doubt experiencing a severe humanitarian crisis in the country, federal and state governments should step up their strategies to give the victims a sense of belonging. Additionally, it is very crucial for global actors, policy makers and humanitarian organizations to collaborate and ensure the protection and provision of the needs of IDPs. This demands a comprehensive and multifaceted approach that should address the root causes of the crisis and bring an end to IDPs in the country.

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EDITORIAL

A Case Against Frequent Fuel Tanker Explosions

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It is alarmingly worrisome that between 2020 and now there were over 80 reported petrol tanker explosions, resulting in the loss of over 500 lives with many injuries and millions of property destroyed.The earliest recorded incident was the Ibadan Patrol Tanker explosion on November 5, 2000, resulting in over 100 deaths with many others injured.

On October 15, 2024, a petrol tanker in Majiya town, Taura Local Government, Jigawa state exploded, resulting in the loss of 209 lives and 124 injuries.
It was followed by the Dikko fuel tanker accident in Niger state on January 18, 2025, claiming over 90 lives and another along Ugwu Onyeama section of Enugu state and many other petrol tanker explosions in the states of Taraba, Niger, Oyo, among others.
Some of the common causes of these accidents include, brake failure, reckless driving and poor road conditions. Regrettably, the Federal Road Safety Commission (FRSC) other security agencies and Ministries, Departments and Agencies (MDAs) are not synergizing to enforce safety standards.In a bid to prevent the high number of explosions bedeviling the country, President Bola Tinubu has set up a high-powered committee to explore the possibilities of halting these calamities.This at most is a cosmetic approach to pull a wool over the eyes of discerning members of the public to cover the crass failure of the FRSC, other security agencies and MDAs, charged with various responsibilities of ensuring safety on our roads.The operations of the FRSC these days are a far departure from what it was during the days of Prof. Wole Soyinka as the Corps Marshall. The FRSC, then was more concerned with enlightenment and education of motorists and inspection of vehicles to prevent accidents while enforcement against recalcitrant road offenders was applied as a last resort – but very tough as a way of correcting them. As a result, motorists imbibed safety driving rules and culture.These days the FRSC sees itself as a revenue generating agency for staffers and government with no structured programme of education and enlightenment of road users for safety.Apart from hundreds of casualties by the explosions which in turn cause severe environmental pollution and huge economic losses, no concrete measures are designed to curtail or reduce their impacts through the review of a case by case basis, with a view to ascertaining the causes and possible solutions.With over half a million Nigerians gruesomely burnt to ashes as a result of petrol tanker explosions at a time other innocent citizens are daily being killed by insurgents, bandits and terrorists, government ought to come up with decisive and actionable steps against offenders rather than set up of “high powered committee,” since the causes of these accidents are well known and it is left for government agencies to enforce regulatory measures to curtail them.Nigeria is gradually degenerating to a killing field with blood streaming everywhere purely because of the government’s late response to critical issues of life and death. And so, It is imperative for the government to urgently prioritize safety on our highways to arrest the systemic failure of transportation of inflammables across the country.While the frequency of these tragedies is alarming and heart-wrenching, the authorities seem to be overwhelmed. Key stakeholders have called for a state of emergency in the transportation sector because economic impact is severe as businesses are being disrupted. Additionally, infrastructures are damaged and emotional stress of victims set in. All of these points to a compelling need for a comprehensive review of safety regulations especially in the area of transportation of petroleum products and to rigorously enforce road safety regulations throughout the country.Such regulations should include but are not limited to mandatory training of drivers on road safety and how to respond to emergencies. The process and protocol for certification must be without compromise. Violators should be made to face strict penalties. Considering that some of the oil tanker accidents occur as a result of bad roads, there is a need for road safety measures to be put in place to reduce the risk of accidents.Again, the National Orientation Agency (NOA) in collaboration with other public enlightenment organizations should urgently embark on sustained public awareness campaigns to educate the populace on the dangers of scooping fuel at the scenes of petrol tanker accidents. Similarly, the NOA and the FRSC in collaboration with transportation companies should establish a task force to monitor the activities of tanker drivers in the country.DAILY ASSET is of the opinion that rather than throw spittle on a raging fire, President Bola Tinubu should deploy a real fire extinguisher to quench it. Therefore, he should immediately relieve the Minister of Transport and the Corps Marshall of their responsibilities for gross failure to apply and comply with their rules of engagement in preventing road carnage of such massive magnitude. This is the sure way of making public officers to be alive to their assigned duties and responsibilities.To avert future tanker explosions often caused by the scooping of fuel at scenes of accidents, the FRSC and other relevant organizations should engage tanker drivers and their owners to emphasize the need for the former to tenaciously observe traffic rules and regulations and that those plying long distances should take turns and rest in the course of their trips.By the same token, the government should urgently address the excruciating poverty in the country because down-trodden citizens are desperate to survive and can go to any length to eke out a living, even to the point of risking their lives.

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