{"id":89327,"date":"2021-11-30T04:54:31","date_gmt":"2021-11-30T03:54:31","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=89327"},"modified":"2021-11-30T04:54:31","modified_gmt":"2021-11-30T03:54:31","slug":"no-to-n2-4-trillion-cash-handouts","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/articles-opinions\/no-to-n2-4-trillion-cash-handouts\/","title":{"rendered":"No! To N2.4 trillion cash handouts"},"content":{"rendered":"
\n
By Abu Mahmud Ahmad<\/div>\n
\n
\n\u201c\u2018_Nigerians are being deceived on the issue of fuel subsidy, The federal government takes out fuel for refining, only to come back and talk about removing the subsidy. That is nonsense and an attempt by a clique with the PDP led the federal government to siphon the proceeds to be realized from the removal of oil subsidy\u201d.\u00a0 _<\/p>\n

General Buhari\u2019s statement in 2012<\/p>\n

Before buttress my argument on cash handouts to the poor, that may costthe government 2.4 trillion naira a year ($5.8 billion) in a bid to replace fuel subsides more than what government subsidise in petroleum products.<\/p>\n

Let set the record straight,\u00a0 \u00a0there is no any administrations in the history of the country that carry out\u00a0 several\u00a0 welfarist policies like President Muhammadu Buhari’s\u00a0 administration\u00a0 aimed at alleviating pains include; the Conditional Cash Transfer\u00a0 in the market; the N-Powervscheme that pays N30,000 stipend to youths to enhance their skills; financial bailout to all states governments in the federation, Hundred billions to anchor brower and Covid 19\u00a0 financial support to households.<\/p>\n

Recently National Economic Council (NEC) said\u00a0 President\u00a0 Buhari has approved a fresh N656 billion Bridge Financing Facility for the 36 States as each state will receive N18.2 billion. The Minister of Finance, Budget and National Planning said the support was to help state governments to
\nmeet their financial obligations, especially the previous budget support facility due for repayment.<\/p>\n

However, the\u00a0 lists of current administration support programs are manyball aimed at alleviating pains to the strata of the society at same times to\u00a0 create social safety nets for the impoverished and vulnerable peoples\u00a0 of the society but the programs did not make\u00a0 much in fact to target beneficiaries.\u00a0 Even\u00a0 with subsidies regime in the oil sector but getting on with\u00a0 daily lives is pretty difficult vulnerable peoples, considering,\u00a0 skyrocketing prices of good and services in addition with alarming unemployment, inclement economic conditions.<\/p>\n

I don’t think, there is any logic for the\u00a0 administration to spend more than what the subsidy wouldn’t have cost the country. Nigerians\u00a0 argue that the supposed benefit would amount to a colossal loss as the expenditure would be higher than the 2021 subsidy expenses and is like sell dogs to buy monkeys.<\/p>\n

Nigerians may recall, in 2012, President, Goodluck’s administration attempted to removed fuel subsidy which had\u00a0 hit bricks as Nigerians and
\nmembers of then opposition now the ruling party, opposed the decision, accusing the then PDP adminstration\u00a0 of planning to siphon the proceeds
\nrealized. PMB makes Nigerians to believed that oil subsidy regime\u00a0 is one of the most corrupt system in the country and also\u00a0 most confuse policy in the mind of Nigerians.<\/p>\n

In May, 2016, then\u00a0 \u00a0State Minister\u00a0 for Petroleum Resources, Dr. Ibe Kachikwu had\u00a0 announced the removal of subsidy on petrol, fixing the new pump price at N145 per litre from N86.50k and later to N165. Exactly on year after the coming of the administration to power. Going by the state minister admission the\u00a0 \u00a0subsidy has been removed with it’s current pump price at N165.<\/p>\n

As the\u00a0 progressive administration pleaded that it\u00a0 \u00a0would\u00a0 free Nigeria from being forced to subsidise a lavish lifestyle of elites Nigerians at the expense of ordinary but\u00a0 the administration has continue doing exactly what it opposed paying surprisingly, the administration continued subsidy payments<\/p>\n

Even when it was announced that it\u00a0 had withdrawn the policy in May 2016 but since\u00a0 \u00a0then, it has been confusion galore, as the Federal Government keeps paying huge subsidies\u00a0 after several announcements of \u201cfull deregulation. In spite with announcement of fuel subsidies removal\u00a0 Nigerians remind confused who subsidy who as the GMB than making poor Nigerian to believe there is nothing like subsidy and the regime in it totality but a SCAM.<\/p>\n

How can\u00a0 5,000 naira each\u00a0 will alleviate\u00a0 hardship to poor considering the prices of foodstuffs are\u00a0 increase daily without control. Even those opportune one (workers) things are very pretty tough considering the meagre nature of the minimum wage talks less of millions peoples out work.<\/p>\n

To buttress my argument there is need for\u00a0 \u00a0the administration to think wisely not\u00a0 to introduce new new subsidy regime in disguise.\u00a0 In spite oil subsidies regime\u00a0 remains unsustainable and\u00a0 economically disingenuous. Did the administration\u00a0 wants to scrap fuel subsidies because the nation\u2019s budget can no longer contain the financial burden. Why the administration policy shuffle always one step forward,Vand backward.<\/p>\n

I am\u00a0 averse to this cash transfer of five thousand because\u00a0 \u00a0is not a solutions.\u00a0 How this Cash support programs can reach intending targetvbeneficiaries\u00a0 in a nation where millions don’t\u00a0 have bank accounts. Did the administration realise there is a stack difference between the number of account holders and the active accounts in Nigeria. Let the administration\u00a0 \u00a0apply\u00a0 more sustainable long running scheme that could touch lives beyond. How the administration will ensure\u00a0 the process will be transparent like those Cash support programs from Togo to India which have helped these countries poor.<\/p>\n

One of the easiest ways to alleviating pains to the strata of the society is to have a empathy to the citizens suffering as a\u00a0 \u00a0 matter of urgency, Nigeria government\u00a0 should revisit the policy of reducing the importation of food, especially now. There is no prescription that every nation has to meet its food self sufficiency needs from domestic production. If the administration give a corridor for food importation the anticipations miserable will be control.<\/p>\n

Lastly for those close to the corridor of power always don’t want to hear that the\u00a0 perceive messiah is yet to figure out on how to improve the citizens well being, strengthening the\u00a0 economic policies that will allow foreign investors to come not an policies that would make investors moving\u00a0 out to neighbouring countries due to policies uncertainty. Let the administration find lasting solution in\u00a0 reduction cost of governance which will\u00a0 help to save more money as the\u00a0 the cost of governance in the country is too high compared to the developed world.<\/p>\n

With untold hardships in the country it\u00a0 become clear that the progressive change is\u00a0 not forthcoming to the expectations of Nigerians. Instead of progressive transformation the\u00a0 daily survival has become an uphill challenges as the peoples are\u00a0 languishing in extreme hardship.<\/p>\n

Is the administration fantastically confused since it is now executing it own new policy of cash out the same subsidies regime executed by successors administration\u00a0 ideas which current administration had publicly opposed?<\/p>\n

Ahmad\u00a0 wrote in from Kano<\/p>\n

.<\/p><\/div>\n<\/div>\n

<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

By Abu Mahmud Ahmad \u201c\u2018_Nigerians are being deceived on the issue of fuel subsidy, The federal government takes out fuel for refining, only to come back and talk about removing…<\/p>\n","protected":false},"author":1,"featured_media":85783,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[7],"tags":[],"class_list":["post-89327","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles-opinions"],"yoast_head":"\nNo! To N2.4 trillion cash handouts - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/articles-opinions\/no-to-n2-4-trillion-cash-handouts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"No! 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To N2.4 trillion cash handouts\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#website\",\"url\":\"https:\/\/pointblanknews.com\/pbn\/\",\"name\":\"Pointblank News\",\"description\":\"Just the news\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/pointblanknews.com\/pbn\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c\",\"name\":\"Our Reporter\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/83b3820ef93d502ae3a617b2c881ca42?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/83b3820ef93d502ae3a617b2c881ca42?s=96&d=mm&r=g\",\"caption\":\"Our Reporter\"},\"url\":\"https:\/\/pointblanknews.com\/pbn\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"No! 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