“…..fuel subsidy removal is all about increasing the price [of fuel]! It is now being insinuated that something like “subsidy” on petrol is back through the ‘backdoor’…..”
The quotation above formed part of a statement, among others, that we made in an article published in October of 2023. Although, pitiably but not unexpected, it elicited harsh criticisms from some government’s attack dogs – even as our comments were not politically motivated! Their main arguments, then and probably now, were (are) that the current central government was just newly inaugurated on 29th May, 2023; so, it needed time for the president’s “…..subsidy is gone…..” to yield their expected fruits and that without “facts” we were raising gratuitous alarm concerning the “…..something like subsidy…..” we claimed was (is) being paid on imported refined petroleum products. Nevertheless, we want to believe that those characters are monitoring current developments in that economic sector. Fortunately, we have been vindicated by information coming from the same Federal Government that those clowns have been blindly and senselessly defending! The same government appears to be embracing reality regarding the long-standing frauds they have always referred to as fuel “subsidy”. Now, we expect those self-centred myopic slavish attack dogs to come out openly and apologise to us because it is already in the news – and there has not been any contrary information from government – that “…..at the current rates, expenditure on fuel subsidy is projected to reach N5.4trillion by the end of 2024. This compares unfavourably with N3.6trillion in 2023 and N2.0trillion in 2022.” Those are not our words! They are from the Accelerated Stabilization and Advancement Plan report presented to the Nigerian president by his current Minister of Finance and Coordinating Minister of the Economy. This has been a well-publicised report in the media.
Before proceeding further from here, we do acknowledge that the above-mentioned minister was able – for whatever reason(s) – to come clean about the lies being propagated that fuel “subsidy” scams are no longer in existence after the president’s “…..subsidy is gone…..” stunt on the day his administration was inaugurated and subsequent fuel price hikes. In other words, this minister is telling the world that the age-long Nigerian fuel “subsidy” scams are still alive and kicking! Meaning that the phrase quoted from the president coupled with the accompanying actions might have been guided by anything but reliable data! It was like groping in the dark! It was (is) not about “subsidy” removal on refined petroleum products but all about fuel price increases! Prices of these products have been outrageously increased but the frauds, collectively, called fuel “subsidy” is still thriving! It looks like political criticism to those in power when some watchers accuse Federal Government of engaging in anti-people (economics) policies endorsed by Bretton Wood institutions and their collaborators, worldwide. Has there been any part of the developing world that moved forward based on the economic policies prescribed by these imperial institutions? We have yet to see one! Countries like China depend on home-grown intellectually-powered economic policies when compared with Nigeria that cherishes what is described, colloquially in pidgin, as “cut and join” policies operated by quacks who believe they know everything; even more than experts in the country! These quacks defer to “experts” from World Bank, International Monetary Fund (IMF) and such other institutions within the imperialist system that do not have developing countries’ interests at heart!
Where Nigeria is, now, should not be surprising as its “leaders” have long decided to seek advice from liars! For us, any developing (under-developing) country hailed, for example, by World Bank/IMF for adopting their economic prescriptions should look inward to realise that damages are being surreptitiously done to their economies! These countries may not know and/or may pretend to not know but the fact always eventually speaks for itself. We are not saying anything new here. It is just that those finding their way into government in Nigeria will always allow negative history to repeat itself. The disastrous World Bank/IMF-recommended Structural Adjustment Programme (SAP) foisted on the country in the mid-1980s by the military government is a good example. The country has not recovered from the negative impacts of the then widely rejected SAP policies! Unfortunately, the government of the day and those before it remained on that inglorious road to nowhere except doom! This has been, and will always be, a well-charted course towards economic disaster, as worked out by the imperialists, for people who cannot and/or refuse to think about home-grown solutions to their economic problems! Get us right; we are not moralising here! We are simply stating reality. International politico-economics is not really about morals or charity! It is about interests! As we have said before now, if you cannot think by, and for, yourself, someone will do it but for himself/herself! Either you like it or not, it is clear, through these imperialists’ institutions’ actions/inactions, that they were set up and funded, primarily, to take care of predetermined interests that may or may not necessarily include those under-developing countries’ own! It is that simple!
What we are simply saying, here, is that any under-developing country, or a group of people, that is still believing that it can get out of economic doldrums by administering economic ‘elixirs’ from those imperialists’ enslaving institutions should quickly wake up, open its eyes and discard that dream! History has clearly shown that it is an unrealisable dream! Painfully, in addition to the foregoing, the political leaders in many of the under-developing countries including Nigeria are comprador bourgeoisies to the powerful foreign interests we made mention of earlier! The solutions to most local economic challenges are obtainable locally if sincerity of purpose exists. However, because of the warped mindset of those referring to themselves as political leaders and their empty-headed followers, good governance has been made to look like rocket science! The case in Nigeria is pathetic! Currently, there is an increasing number of “bandits” not in bushes but in government! A close observation of these people will explain part of the reasons why Nigeria is now the way it is. These gangsters are wreaking havoc on public purse! These are shady characters donning the garb of political office holders giving those coming behind the impression that political corruption is the correct way to go while impoverishing and denying majority of the people quality education. These repressive strategies should be barred from continuing into the future! Hence, it will be beneficial to heed the wise counsel of Robert Nesta Marley (1945–1981) that our people should “…..emancipate [themselves] from mental slavery [as] none but [themselves] can free [their] minds…..”
Prof. Erakhrumen teaches at the Department of Forest Resources and Wildlife Management, University of Benin, Benin City, Nigeria.
