Within a few hours things changed – some marketers shut their petrol stations, the price of petroleum motor spirit (PMS) tripled; transportation fare, food prices soared. It was just a pronouncement by President Bola Ahmed Tinubu during his inaugural speech that subsidy on petroleum is “gone” and the economy and welfare of many citizens took a worse  turn.Nigerians are quick to condemn the insensitivity of the government to the plight of the people but the citizens are not any better. Many Nigerians capitalize on any given opportunity to make “quick” money even at the detriment of their fellow citizens. How their actions will affect their neighbours and other citizens is the least of their worries. Otherwise, how come petroleum marketers who were selling petrol at the official pump price of N195,00 or a little above that raise the price to as high as N600, N800 or even N1000,00, depending on the location and filling station, at the mere mention that petrol subsidy will be removed? Why should taxi drivers, some of whom bought fuel at the official price, hike their fares by almost 300 per cent? How can the traders on hearing the announcement triple the prices of the items stocked in their stalls and shops? The worse is that the Nigerian National Petroleum Company Limited who would have come to the rescue of the populace is also a culprit of the same offence.  Quickly after the president’s pronouncement and despite the refutation by the government that Tinubu did not say that subsidy removal will take immediate effect, NNPC filling stations adjusted their fuel pump prices to N511,00 per liter.The Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari, earlier in the week while appealing to Nigerians to stop panic buying of petroleum products, said that there was sufficient supply of petroleum products. One would want to believe that the “surplus” fuel on ground, which apparently is old stock, was subsidised. That being the case, why should the pump price be hiked? What will happen to the excess money realised from this increase?Nigeria is a tough place to live in presently.  The disruption the president’s pronouncement has done to the economy, the misery brought to the citizens is unimaginable but Nigerians should not make the situation worse for one another through extortion.
The Governor of Imo State,  while addressing newsmen on Wednesday, observed that removal of subsidy was a key point in the manifesto of all the major contenders in the recently held presidential election in the country. He noted that both the candidates of the Peoples Democratic Party (PDP), the All Progressives Party (APC) and Labour Party (LP) promised to remove fuel subsidy if elected president of Nigeria. That is a fact. Nigerians heard them but failed to reject it at that time. We all hailed it believing that subsidy was the root of Nigeria’s economic woes. Do we then not have a share in the calamity that has befallen the country? The few knowledgeable people who cried out that removal of subsidy would do the nation more harm than good were not listened to. I recall a particular public affairs analyst, Majid Dahiru, constantly insisting that the issue of energy security should not be toyed with. According to him, any country that does not have energy security (availability of petrol, diesel, electricity at an affordable price), cannot prosper economically and is bound to have challenges of peace and security. He and his likes also insisted that most developed countries have been able to attain food and energy security through subsidy because if you do not subsidise the prices will go up, the cost of production will rise in addition to other spiral effect on the economy and the well being of the citizens just as it is currently in Nigeria. Unfortunately, Nigerians were meant to believe that subsidy is injurious to the nation’s economy. The people that should know better, told the masses that only the rich were benefiting from fuel subsidy and that it has no impact on the lives of the poor. Some argued that only the people in the cities were gaining from subsidy because those in the rural areas were already buying the product way above the official pump price. Because of the corruption angle of the subsidy over the years, the inflated cost of the imported product and all that, it just felt like removal of subsidy was a blanket approach to cleansing the system.
Today, we know better. We have seen that the consequences of subsidy removal are more on the poor, low-income earners than the rich. In a viral video on the social media, some motorists queued up at an NNPC filling station here in Port Harcourt on hearing the news of the subsidy removal, hoping to get the product at the old, official price but when the gates of the gas station were opened and the new price was unveiled, none of them could drive in. How many rich people are complaining about the effect of the subsidy removal on prices of food stuff, transportation and other things? The President of the Nigeria Labour Congress, Joe Ajero, has been in the news in the past five days, expressing the displeasure of Nigerian workers over the latest development, insisting that Tinubu must take the country back to where it was before May 29 and that if there must be any form of subsidy removal, government must negotiate with the workers, the market men and women and other Nigerians. That is a good step. Nigerians must insist that the government must work. That means, the government must fix the Nigerian refineries. Government must deal with oil theft, insecurity, corruption and other factors responsible for the country not meeting up with her OPEC quota of 2.4million barrels of oil per day. The government must have the political will to deal with corruption which has kept the nation in this sorry state. Otherwise, there is no guarantee that the money that will be saved from subsidy removal, if it must take place, will not be mismanaged. Most importantly, government should start cutting waste by cutting the cost of governance.  The president and the state governors can function effectively without the fleet of cars at their disposal. President Tinubu is said to be one of the richest men in Africa. So, it can be argued that his aim of wanting to occupy the topmost position in the country is not to enrich himself. He has seen it all in life. So, he should make a name for himself by prudently managing the resources of the country for the wellbeing of the citizens.
The president should not be adamant on carrying out any plan, policy or decision that is inimical to the wellbeing of the generality of the people. He should have a listening ear and always consult widely in all his dealings as he promised during his inaugural speech. If the fuel subsidy must go, let it be done in such a way that it will be less painful on the poor suffering Nigerians. He should listen to some constructive advice offered by some well-meaning individuals and groups, which include ensuring that our refineries are operational and or at least waiting for Dangote refinery to come on stream to help keep the fuel price from spiraling out of control. There should be a holistic approach to solving our national problem which should include good governance and appointing the qualified, capable hands into offices. The time for political patronage is over. There must be the assemblage of capable Nigerians from different ethnic groups, religions and political parties with a burning desire to save the nation from further sinking. This way, Nigeria’s economy will blossom and there will be enough money to continue to subsidise petrol and other things that will make the life of the citizens more meaningful and Nigeria a country we can all be proud of.

By: Calista Ezeaku