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Group Calls for Better Understanding on Fuel Price, Electricity Tariff Hike

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Group Calls for Better Understanding on Fuel Price, Electricity Tariff Hike

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Coalition for A Better Nigeria calls for better understanding on fuel price increase and electricity tarrif hike, congratulates Buhari on P & ID judgement, President Akufo-Addo, Yaya Bello, Adeola Ogunkeyede, Ruth Imonina, cautions FG on Water Resources Bill, hails Olusegun Osunkeye @ 80, James Odunmbaku @ 73, remembers Gani Fawehinmi @ 11, mourns Attah of Igala.

Since discovery of fuel subsidy frauds, we, the Civil Society members, are the Advocates of fuel subsidy removal because we believe that it is the only way to block the financial leakages.

It is general belief that the regular supply of electricity will rebuild our economy for the benefits of all Nigerians.

The Pipelines and Products Marketing Company (PPMC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC) last Wednesday announced a new depot price of N151.56k for PMS against the N138.62k announced in August, and this has led to an increment in the pump price to between N160 and N163 in filling Stations across the States.

Unfortunately, this and electricity tarrif hike by the Nigeria Electric Regulatory Commission (NERD) are coming at a time when people are struggling with economic difficulties created within the context of the Post COVID – 19 economy, and the Federal Government appears resolute.

According to the Government, the alternative is unstable supply of electricity and long queue at various filling Stations, with a litre selling at exorbitant price.

We are now into full deregulation where market will determine prices and this will prevent the return of subsidies and operators will recover their costs.

On the long run, it will encourage investments and jobs creation.

Regardless of economic effects of COVID – 19, Nigeria spent N1trillion on fuel subsidy this year alone.

Between 2006 to 2018, N10.63trillion was the total subsidy paid by the Federal Government.

The Country has 60% less revenues and can no longer afford subsidy. There is no provision for it in the 2020 revised budget, to allow reasonable appropriation to the key sectors like Education, Health, Infrastructure.

The price would go up and down depending on the international market forces and this will discourage smuggling of the products.

Already there are indications of more investments in refining in Nigeria which will moderate the cost. Fierce competition will also moderate the price.

It is really a tough decision which was taken at the beginning of the year preceeding coronavirus pandemic but due to sensitivity of the Government, its implementation had to be delayed till this point because of the attendant grave consequences of coronavirus pandemic.

The irregular supply of electricity is like a cause on Nigeria, which we have all been praying against for years and waiting for its historic end. As Civil Society Organisations, we must seize the opportunity of increment in prices to negotiate a better deal with the Suppliers and Federal Government.

The Government should think beyond frequent price hike and come up with a long term development programme to salvage the Country’s battered economy.

We raise our voice in concert with the prominent groups and individuals in the Country to condemn the National Water Resources Bill that seeks to bring all water sources (surface and underground) as well as river banks under the Federal Government because it is illegal and anti federalism.

We hail the ruling of the High Court of England granting Nigeria’s application for extension of time to appeal the arbitral award in favour of process and industrial development.

Otherwise, Nigeria would pay $10 billion out of its learn purse to “dubious Irish persons”

To this end, we say Congratulations to President Muhammadu Buhari and all of us.

We also congratulate Ghanaian President Nana Akufo-Addo on his election as the new Chairman of the ECOWAS at the 57th Ordinary Session of the ECOWAS Heads of State and Government held in Niamey, Niger Republic.

We applaud the unanimous decision of the Travis County, Texas, as it names a Nigeria American born University of Vigirnia law Professor, Adeola, daughter of an Activist and International Human Rights’ Advocate, Otunba Olajumoke Ogunkeyede (JMK), hails from Ilase, Obokun Local Government, Osun State, as its First Chief Public Defender.

Until last year, the county was the largest jurisdiction in the United States without an office to handle cases for poor adults accused of crimes.

We congratulate our Beautiful Sister, Ruth Imonina, a Nigerian born Niger Delta Princess, who was commissioned into the USA Marine as a Second Lieutenant.

We rejoice with an Accounting doyen, Chief Olusegun Oladipo Osunkeye, former MD/CEO of Nestle Nig Plc and Babalaje of Egbaland @ 80.

Happy Birthday to a Progressive Leader and a member of Lagos State All Progressives’ Congress (APC) Governor’s Advisory Council (GAC), Cardinal James Odunbambaku (Baba Eto) @ 73.

We congratulate Governor Yaya Bello of Kogi State on the Supreme Court judgement, and also commiserate with him, families, friends and Associates of the Late Paramount Ruler of Igala Kingdom, His Royal Majesty, Mike Ameh Oboni II.

May his soul rest in peace.

It is time to remember our Late Legal Luminary, International Leader of the Civil Societies and Senior Advocate of Masses, Chief Gani Fawehinmi, SAN, 11 years after transition to glory.

Your legacies live on.

Comrade Awa Bamiji
National Coordinator
Coalition for A Better Nigeria

 

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