By Dele Moses
Former Vice President and the presidential candidate of the African Democratic Congress (ADC), Alhaji Atiku Abubakar, has asked President Bola Tinubu to consider lowering the price of petrol and not insisting on no review of his subsidy removal policy.
Atiku made the advice in a statement where he alleged that since removal of the policy by the president people of the country have continuously suffered worsening economic hardship.
He restated his position that the country could not be said to be enjoying econimic growth and development when more revenue accrues to the government but goods and services become more expensive and purchasing power of the people dwindles.
The ADC presidential candidate who noted that when he first suggested his new proposal on the subsidy the proposal was described by the president as being a demonstration of serious ignorance about governance and economy said since labour union, petroleum marketers, manufacturers and many people in the country have also raised concern about hardship being witness due to the policy the president should stop maintaining adamant posture but consider a review of the policy.
He suggested that the president should take his idea about lowering the price of petrol, rename it and take credit for it saying that what matters to him was that the people pay less for the petrol and not taking of credit for the idea
His statement reads: “Since May 29, 2023, Nigerians have lived with the consequences of the removal of petrol subsidy, without adequate protection for families, workers, farmers and businesses during the transition.
“For more than three years, that burden has travelled from the petrol station to the bus stop, from the bus stop to the market, and from the market to the family dining table.
“When petrol becomes expensive, transportation becomes expensive. When transportation becomes expensive, food becomes expensive. Farmers pay more to move produce. Traders pay more to stock their shops. Workers pay more to get to work. Businesses pay more for logistics and energy.
“In the end, the Nigerian family receives the bill.
“When government makes energy expensive, it makes life expensive.
“This is no longer an argument between Economists. It is the daily reality of millions of Nigerians.
“These are the real tests of an economic policy.
“When I first argued that government should review its approach to the withdrawal of petrol subsidy and consider responsible intervention to bring down the cost of fuel, Mr. Bola Tinubu dismissed my proposal as demonstrating “serious ignorance” of governance and the economy.
“My dear Bola, events since then have raised a simple question.
“Is the Nigeria Labour Congress also ignorant when it calls for urgent intervention to cushion workers from rising petrol prices?
“Are Petroleum Marketers ignorant when they call for policies that strengthen domestic refining and help moderate pump prices?
“Are Nigerian Manufacturers ignorant when they warn that Power-related expenses now consume more than half of operating costs?
“And are the millions of Nigerians crying out because they can no longer afford transportation, food and other basic necessities also ignorant?
“When workers, producers, marketers and ordinary families are all raising the alarm, government must listen.
“If everybody who questions your policy is ignorant, while only the President is presumed to be wise, then we have a leadership problem on our hands.
“Leadership requires the humility to confront the consequences of policy and the courage to change course.
“Across our Factories, production costs are rising while unsold goods pile up in warehouses. Manufacturers struggle to keep producing; families struggle to afford what they produce.
“The goods are there. The need is there. What is missing is the purchasing power.
“Government celebrates GDP growth, higher revenues and bigger allocations. But Nigerians judge the economy by what their money can buy.
“If government receives more naira while the citizen’s naira buys less food, less fuel, less electricity and less transportation, then bigger government revenues mean little to the family struggling to survive.
“Economic growth must enter the home.
“It must enter the market basket.
“t must show up in the purchasing power of the worker.
“A government collecting more money while its citizens can afford less cannot declare victory on the strength of bigger numbers alone.
“Reform must ultimately be judged by what it does to the lives of the people. It should expand production, create opportunity and improve living standards. It cannot become an endless explanation for hardship.
“That is why I am calling on Mr. Bola Tinubu to act now.
“He has approximately eight months remaining in office.
“Bola, I want you to use those 8 months to give Nigerians relief.
“And let me say this plainly:
“Bola Tinubu should not be ashamed to do what is necessary to lower the price of petrol, simply because Atiku Abubakar proposed a government intervention.
“He should just take the idea.
“Rename it if he wishes.
“And even take the credit.
“What matters to me is that Nigerians pay less.
“A sensible idea does not become a bad idea because it came from your opponent.”
