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Petrol, Electricity Subsidies Hurting Poor Nigerians, W’Bank Claims

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The World Bank has claimed that subsidies benefit only rich households and reduce government spending on poor Nigerians.
This was contained in a statement on the bank’s website announcing the launch of the new Nigeria Public Finance Review report.
According to the bank, Nigeria’s resources had been consumed by inefficient and regressive subsidies on petrol, electricity and foreign exchange.
It added that the subsidies were far more than what was spent on education, health and social protection in 2021.
The statement read, “For years, a large share of Nigeria’s resources have financed inefficient and regressive subsidies for petrol, electricity, and foreign exchange. Not all these subsidies are accounted for in the budget, which makes them difficult to track and scrutinise.
“However, available data suggest that these subsidies, which accounted for more than the amount spent on education, health, and social protection in 2021, benefit primarily wealthy households. They also distort incentives, discourage investment, and crowd-out spending on pro-poor programs, thereby hindering progress in Nigeria’s social development.”
It further noted that Nigeria had one of the lowest public expenditure and revenue levels in the world, undermining the government’s ability to improve service delivery.
The bank added that low tax rates and poor utilisation of tax bases, weaknesses in tax administration, and large deductions from oil revenues were limiting Nigeria’s ability to generate enough revenues.
The World Bank Group President, David Malpass, was quoted as saying, “Nigeria’s government urgently needs to strengthen fiscal management, create a unified, stable market-based exchange rate, phase out its costly, regressive fuel subsidy and rationalise preferential trade restrictions and tax exemptions. These would lay the groundwork for the increases in public revenues and spending needed to improve development outcomes.
“Decisive moves would significantly improve the business enabling environment in Nigeria, attract foreign direct investment, and reduce inflation. The World Bank is ready to increase support to Nigeria as it designs and implements these critical reforms.”
On his part, the bank’s Nigeria Country Director, Shubham Chaudhuri, said, “Nigeria is at a critical historical juncture and has a choice to make. A child born in Nigeria today will be only 36percent as productive when she grows up as she could be if she had access to effective public education and health services, and has a life expectancy of only 55 years.
“These stark indicators illustrate the urgency for action by Nigeria’s policymakers to improve the macroeconomic and fiscal framework, so as to sustainably enhance the quality of spending and public services at federal and state levels.”
At the launch in Abuja, last Monday, there was a panel session, which featured the Director-General, Budget Office of the Federation, Ben Akabueze; the Chief Economic Adviser to the President, Dr Doyin Salami; and the Director-General of the Debt Management Office, Patience Oniha.
Each of the panellists stressed the need for the government to increase taxes and cover up compliance gaps.
The DMO DG also said that Nigeria should not continue to depend on debts but needed to enhance revenue generation.

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Council Boss Sues For Love, Unity

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As Christians across the world celebrate the resurrection of Our Lord Jesus Christ, the Administrator of Opobo/Nkoro Local Government Council of Rivers State, Mr. Frederick Apiafi, has advised Nigerians to love one another.
Mr. Apiafi said the period should be used for sober reflection and demonstration of love, unity and  embracing the message of Easter.
This was contained in his Easter message and made available to media houses yesterday, saying that the resurrection of Jesus Christ has equally given birth to a new season of faith, hope , sacrifice and prosperity.
The administrator  further used the forum to call on all indigenes and those doing business in the Local Government Area to be their brothers’ keeper at all times.
“As we celebrate the crucifixion and Resurrection of our Lord Jesus Christ, let us  soberly reflect and demonstrate love and unity  particularly indigenes of Opobo/Nkoro,” he said.
Mr. Apiafi reiterated that welfare of workers and the good people  of  the  area would be paramount in his administration.

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Gunmen Abduct Six Travellers In Kwara

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Seven passengers travelling from Abuja to Kwara State were abducted on Saturday along Obbo-Ayegunle road in Ekiti Local Government Area of Kwara State.
Three children of the abducted victims were, however, later released by the unidentified kidnappers, according to reports reaching The Tide’s source in Ilorin yesterday.
The abduction occurred between 17:00-18:00 hours, while the passengers were on board a Sienna vehicle owned by Olumoh Express transport company, heading to Offa from Abuja.
All attempts made so far by the local vigilante to rescue the victims were unsuccessful.
Spokesperson of the state police command, SP Adetoun Ejire-Adeyemi, confirmed the development.
“Armed hoodlums numbering about eight reportedly intercepted a Sienna bus registered FFA 50XD, heading to Offa from Abuja and forcefully abducted seven occupants including the driver.
“Upon receipt of the information, police operatives in collaboration with local vigilantes, responded swiftly to the scene.
“The vehicle was recovered to the nearest police formation. During a coordinated search of the surrounding bush, three children aged between two and 12 years were located and safely rescued.
“One of the children was able to give the police detailed information of her guardian who was contacted and the three rescued children have been reunited with their relatives,” the statement added.
The command said it has intensified efforts through discreet investigation, intelligence gathering and sustained bush combing to track down the perpetrators and secure the safe rescue of the remaining victims.
Commissioner of Police, Adekimi Ojo, reiterated the commitment of the command to the safety and protection of all residents, urging those with useful information to report through the established channels of the state police command.

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HYPREP Moves To Complete Ongoing Projects This Year

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The Hydrocarbon Pollution Remediation Project (HYPREP)  has set machinery in motion to complete ongoing projects this year in line with its new policy thrust.
The Project Coordinator of HYPREP, Prof Nenibarini Zabbey, who gave this indication while addressing participants during the Project’s first quarter interactive session with Ogoni youths in Port Harcourt, said the agency is this year, drawing from a new policy thrust that prioritises timely completion of all projects within stated timelines.
The Project Coordinator noted that as a community-based project, HYPREP understands the urgency of protecting the environment and improving livelihoods in line with its mandate.
He disclosed that the Centre of Excellence for Environmental Restoration(CEER) for example, is currently being painted,  as part of its final finishing works, stressing that HYPREP is ensuring that the centre is commissioned this year for public use.
According to him, the Technical Planning Committee for the CEER had  submitted its report which contains various recommendations for the operationalisation of the centre.
He further disclosed that the shoreline remediation project is at a completion rate of 39.4 percent, saying, HYPREP has in this area recovered, evaluated and treated over 937,000 litres of oily sludge from the mangrove sediment, as well as evacuated over 1.7million kilogrammes of solid waste from the Ogoni creeks.
According to him, the mangrove restoration project has reached 86 percent completion rate, while the monitoring of the planted mangrove grids is progressing well.
He said HYPREP has also initiated a practical framework for long-term monitoring to ensure the Project’s objectives are met.
The Project Coordinator said HYPREP has achieved significant milestones in the ongoing construction of new water facilities in Ogoni communities, stressing that it is determined to commission the new water facilities in the various communities in the third quarter of this year.
He assured the participants that HYPREP would commission water facilities  every two months in Ogoni communities.
Zabbey announced that the Creative Arts training for more Ogoni youths would begin in the second quarter of the year, while other array of interventions to support small and medium scale businesses would be rolled out in the coming weeks.
He revealed that the construction of the Ogoni Specialist Hospital has advanced to a completion rate of 70 percent, while that of  Buan Cottage Hospital has reached 93.8 percent.
He also disclosed that in March, the Project Coordination Office took delivery of the first batch of equipment and electrical parts for the Ogoni Power Project, and expects further deliveries in this second quarter.
Zabbey said HYPREP has also deepened its engagement with critical stakeholders, including Ogoni youths and women, adding that this periodic interactive session remains a key part of its yearly work plan to ensure that their voices are heard.
He hinted that some selected youth leaders would benefit from the second batch of the Ogoni traditional rulers and other key stakeholders workshop on mechanism for alternative dispute resolution.
At the interactive session, Dr Sorbarikor Lebura of the Rivers State University delivered a keynote address on how to be on the right side of history, and encouraged Ogoni youths to always strive to be on the right side of history through their actions.
On her part, HYPREP’s Head of Sustainable Livelihood, Mrs Josephine Nzidee told the participants that the project is working hard to close out on the training of 5,000 Ogoni youths and women by ensuring that all trainees get their starter packs.
She  assured persons living with disabilities in particular that HYPREP would provide more empowerment opportunities to them.
Also, the Head of Potable Water Unit, Mr Lucky Ikue announced that the Terebor water scheme, which had been out of use for some time now, due to technical glitches, would be functional soon, as the station manager has been relieved of his duties.

By: Donatus Ebi

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