Nigeria is a country blessed with both human and natural resources and thus is assumed to be the true giant of Africa. By October 1st this year Nigeria will be 62 years old which is enough prove that we have also come of age. It therefore beckon on us to begin to do what is right so that Nigeria will be happy with us.
The stories surrounding subsidy removal by FG is an issue that was first proposed by the Former President Goodluck Jonathan in 2014 but an attempt that failed following nationwide protest with the street of Lagos being the epicentre. This issue is again on the front burner as FG plans removing subsidy from the the cost of importing petroleum products into the country because of its attendant economic burden on the nation's commonwealth. One will suspect that this is fast becoming a burden to government while government seems to be finding a way out of assumed economic wastage. Yes the removal of subsidy will definitely have its' gains, merits and demerits. At the instance, removal of subsidy may not be palatable but at the long run if properly managed and monitored using available government watchdogs it will yield a pleasant result at the end. But a few questions need to be asked:
1. What has government done with the proceeds derived from the sales of our crude oil in last 30 years?
2. Why do we still showcase refineries that are now old, refineries that can no longer meet global standard hence at very low refining capacity that cannot even meet domestic demand?
Thanks to Dangote Group who in recent times has now become a big investor in the petrochemical industry through the Dangote refinery project which is near completion.
Government' s incessant failure at improving the standard of living of the people has often led to total lost of trust for government. The people are afraid that any attempt by government to remove subsidy will only aggravate the suffering of the people. However few suggestions to helping government implement subsidy removal if need be are:
1. Setting a long term implementation plan through adequate preparation for at least a minimum of 10 years.
2. Constituting a subsidy removal implementation committee charged with the responsibility of implementation.
3. State terms and conditions for the committee with focus on a long term implementation plan that is sustainable.
4. Re - investment of the proceeds from the sales of crude oil and other petroleum products be done with sincerity of purpose.
5. A minimum of 2 refineries with at least 500 thousand barrel refining capacity be completed and operational.
6. Encouraging and financing of modular and locally made refineries be considered as a add up to large scale production.
7.Constitute a special task force to act as a watchdog using the instrument of government to checkmate the activities of the committee.
Subsidy removal by FG could be a good decision to take if it is no more sustainable. But the worries of Nigerians is the fear of the unknown. Federal Government decision on this matter cannot be immediate because of the possible pains this decision may have on the welfare and well being of Nigerians. Thanks to Mr.President for suspending actions on this indefinitely.
Hon. JAYEOLA, Afolabi Olubunmi
National Convener,
Omoluabi Team Alliance Writes from Akure, Capital City of Ondo State.
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