National Politics
Former Minister Obanikoro Drags Tinubu Administration to Clarify Status of Fuel Subsidy Restoration in Nigeria
Musiliu Obanikoro, a former state minister for defense, requested that President Bola Tinubu’s government be open and tell Nigerians whether or not fuel subsidies have been reinstated.
President Tinubu ended the subsidy program during his inaugural speech on May 29, 2023, which resulted in an instant increase in the cost of premium motor spirit, or gasoline.
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Recent reports, however, indicate that the government has covertly reinstated the fuel subsidy in order to maintain prices at about N600 per liter.
In the best interests of the populace, the Alliance on Surviving COVID-19 and Beyond (ASCAB) had requested that President Bola Tinubu’s administration reconsider eliminating the fuel subsidy.
Femi Falana (SAN), a human rights attorney and the chair of ASCAB, stated in a statement on Sunday that,
“It would be recalled that after the Muhammadu Buhari administration announced that it had removed subsidy on petrol, it turned round to spend N11 trillion on the so called “under recovery” within a period of 8 years.
“Mr. Dickerman, who made the disclosure while participating in a panel discussion, disclosed that a significant subsidy is still in place, adding that this has contributed to the affordable price of the product and potentially fueling smuggling activities to neighbouring countries.
“Before the disclosure, the International Monetary Fund (IMF) has asked the federal government to completely phase out petrol and electricity subsidies in the country. The IMF made the recommendation while advising Nigeria on pathways to restoring macroeconomic stability in its ‘Post Financing Assessment (PFA)’ report.
“On its own part, the World Bank has alleged partial return of fuel subsidy in a report titled, ‘Turning The Corner (From Reforms and Renewed Hope to Results)” which was presented in Abuja last December.
In justifying its claim then, the World Bank said that based on the official exchange rate then, the petrol should sell for around N750 per litre and not the N650 currently being paid by Nigerians.
“Curiously, the Nigerian National Petroleum Corporation Limited has not deemed it fit to deny the serious allegation that fuel subsidy has been restored.
Since there is no provision for fuel subsidy in the 2023 and 2024 Appropriation Acts the federal government should, without any further delay, confirm or deny the serious allegation and end the opacity surrounding the importation of fuel from foreign countries.”
In a similar vein, Obanikoro, a former minister who served as the Lagos Central Senatorial District’s representative from 2003 to 2007, demanded more honesty on Wednesday in an interview with Channels Television’s Sunrise Daily.
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He clarified that in order to maintain the current level of the price of gasoline, the government might be bridging the steadily increasing difference between the US dollar and Nigeria’s naira.
In Obanikoro’s words,
“You talk about subsidy, Mr Falana knows the price of crude in dollars and if our money, the naira has lost so much value, and crude is dollarized.
“Evidently, there must be a cushion somewhere and to what extent is that cushion being done, I can’t speak to that; it’s somebody who is representing the government that can address that.
“But my common sense tells me that there is a gap and because of the pain in the country, the government cannot allow that lacuna to be left unfilled, hence government may chip in some amount of money to fill in that gap.
“I do believe that that needs to be communicated, no doubt about that. That is why it is important to take the people along step by step.”
Seven APC aspirants for governor who competed against Governor Lucky Aiyedatiwa on April 20 as part of the All Progressives Congress (APC) gubernatorial ticket are supporting the incumbent governor, Aiyedatiwa.
About one month after the state’s shadow primary, which took place in advance of the November 16 governorship election, the candidates announced their support for the governor.
Among the candidates are Morayo Lebi, Dayo Faduyile, Soji Ehinlanwo, Diran Iyantan, Funmilayo Waheed-Adekojo, Mayowa Akinfolarin, and Jimi Odimayo.
They urged party members to embrace unity rather than letting the results of the shadow primary drive rifts inside the organization.
The seven candidates issued a statement stating that all true party members should be focused on the party’s triumph in the upcoming governorship elections.
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“We, the under-listed chieftains of our party, the APC, who were aspirants in the just-concluded Governorship Primary, wish to call on all members of our party who have a genuine interest in the success of the party in the forthcoming general election in November to embrace peace for a resounding victory in the polls.
“The party position is that His Excellency Lucky Aiyedatiwa is our gubernatorial candidate; this position should be sacrosanct to us all, even when some of us have expressed some reservations.
“We acknowledge that perfection is a moving target. As party leaders who have significantly contributed to nurturing the party to impressive growth, we cannot allow anything that could lead to the polarisation of our party, with the potential consequence of undermining unity within our party.
“We therefore call on our supporters and all stakeholders to put aside personal interests and allow the overriding interests of the party to take precedence.”
Alhaji Shuaib Oyedokun, a member of the Board of Trustees of the Peoples Democratic Party (PDP), has left the biggest opposition party.
Ayedokun bemoaned the tainted views of the party’s founding members in a resignation letter he sent to the National Chairman of the party via the chairmen of the ward, local government, and state.
The party’s former deputy national chairman also declared his intention to join the All Progressives Congress, or APC, which is currently in power.
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He said that the ruling party would value and appreciate his leadership responsibilities, efforts, and experience more.
The letter says, in part, “I have the honour in announcing the renunciation of my party membership on principle, having observed that the ideals of we, founding members, had been sorely contaminated.
“In taking this step which is not even without due consultation with my teaming loyalists in the PDP.
“I have decided to shift my allegiance to the All Progressives Congress, APC, where I believe my experience, efforts and leadership roles would be valued and appreciated.”
Senator Magnus Abe, an influential politician in the All Progressives Congress (APC), recently described Nyesom Wike, the minister of the Federal Capital Territory (FCT), as a significant figure in President Bola Tinubu’s administration.
But he made it clear that the former governor of Rivers State was not an APC member.
During his appearance on Politics Today on Channels Television, Abe described how he persuaded Wike to collaborate with Tinubu.
The APC leader declared: “I’m comfortable working with Wike. I did everything to convince Wike as governor then, to work for Tinubu in Rivers State.
“Wike is my friend. Today, he is working in the APC government as a minister. We must work together.”
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When asked if Wike was now an APC member, Abe responded, “Wike is a minister in the APC government, not an APC member.”
“He is a minister in our government and we cannot with all proper sense of responsibility as a party ignore the president’s appointee from our own state, who is a minister in our government. It makes no sense.
“So, he does not have to be a member of the APC, but he is an influential figure in the APC government and it is in the interest of the party to work with him and we will do so in the party and nation’s interest and to be able to give our full support to the president (Bola Tinubu).
“He was not a member of the APC when he led the G-5 to support Tinubu’s presidency bid.
“The president didn’t stop him then that he is not a member of the APC so you cannot support me.
“If the president didn’t say that, we too, will not say that he is not an APC member and so we will not work with him.
“We are following the footsteps of our leader, therefore, we’ll work with him.”
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