The removal of fuel subsidy by the President Bola Tinubu led administration on June of 2023, has spark an inflation in the price of goods in the market.
Tinubu announced the removal of the fuel subsidy on the ground that much money is being paid to oil moguls in the country. However, Tinubu econometrics measure is to remove the subsidy as a means of rescuing the economy from collapsing. In the meantime, last one month of subsidy removal the federal government save a whooping sum of 400 billion Naira in her coffers.
However, it seems this gallant move by the federal government is doing more harms than good. This comes in terms of inflationary increase in food prices and services.
Some angry Nigerian who flooded the Anyigba market in Kogi state decry the current state of food hike, according to them, the current state of economy is so alarming and inhumane. A student of Mass Communication, Idoko Sunday who spoke to us, lamented how difficult is for students to survive amidst the harsh economy policy.
Kogi state is a civil servant state that depend largely on federal allocation for her survival amidst Governor Yahaya Bello’s percentage salary structure. According to an anonymous source, the policy was meant to inflict an unjust pain on the poor and flourishing the the rich. Also, this has also generate concern from the NLC on the spark in food in the market thereby issuing the president to take urgent step to tackle the food scarcity.
In a bid to listen to the groaning plight, the president had declared state of emergency food items in the country. Tinubu, who made the announcement to cushion the effect on food prices in the country, also announced the mass roll out of food grains, fertilizer and loans for mass production of food.
A lecturer of the department mass communication, Mr James Mohammed, applauded the president’s step, but faulted the president for not providing palliative that will reduce the effect of the economy policy on Nigerians.
The main causes of price increment is the cost of moving goods by transport workers.
In an interview, a member of National Union of Road Transport Workers (NURTW), Kogi state chapter, lament that the low to turnout of passenger as a result of fuel subsidy, with the the price of PMS sold 615 per liter.
The president also said to augment the currency economic policy, the government is making a move to introduce a the liquefy gas system to reduce the high cost of buying petrol. A phone charging operator inside Kogi state university, known as best charging center, has converted his petrol generator to gas system. He said it is more economical than the petrol.
– Maji Daniel Ikoojo
Department of Mass Communication
Prince Abubakar Audu University Anyigba, Kogi State.
