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Subsidy Removal Will Set Nigeria on Fire, NLC Warns FG

Published

2 years ago

April 5, 2023

Eric

The Nigeria Labour Congress, NLC, has warned that those pushing for subsidy removal in Nigeria are out to set the country on fire.

The warning came against the backdrop of an announcement that the outgoing government of President Muhammadu Buhari had left the decision of petrol subsidy removal to the incoming government.

According to NLC, the focus should be on the local refining of petroleum products and not subsidy removal.

General Secretary of NLC, Emma Ugboaja, in a chat in Lagos yesterday, said nobody should drag Nigerian masses and workers into any increase in fuel price in the name of subsidy removal, insisting that organized labour will not accept it.

He said: “It will be uncharitable in 2023 for any government to talk about subsidy or no subsidy for a product that is naturally and thoroughly well-endowed in Nigeria. It smacks of wickedness for us to be discussing subsidy as an issue, rather than discussing production.

‘’The energy and resources people are putting into discussing subsidy show a lack of focus. It shows a lack of seriousness and a lack of appreciation of what governance should be. If in 2023, rather than getting people that will make proper use of our natural endowment, we are busy discussing the cosmetic challenge of subsidy or no subsidy, it is absurd.

‘Absurd comedy of subsidy’

“One would have thought that people should be setting before the incoming government a genuine challenge on how to move Nigeria forward, not for us to continue in the rigmarole of vicious, musical chairs and absurd comedy of subsidy or no subsidy. We cannot be people that do not respond to records.

“It is an open thing that the government that is about to leave in 2016 told Nigerians they had removed the subsidy. Despite the NLC’s position that there was no subsidy to remove and that what people were harping on was a price hike. They had told us that they removed the subsidy in 2016, so what subsidy are they removing or are we discussing now?

‘What we should be discussing is how to refine crude oil in Nigeria and make the product available for domestic consumption. Anything outside that shows the wickedness of the kind of intellectuals we have. We feel sick each time we see normal people come out on national television giving theories on subsidies and how they can be ploughed into healthcare or education.

Nothing is more dangerous than the way our elites try to hoodwink Nigerians. The truth is Nigerians need to wake up, we cannot continue in this vicious cycle of humiliation and slavery.

‘No subsidy to be removed’

“There is no subsidy for anybody to be removed. The point that has to be made is that we must refine it. Anything outside making our refineries work is wickedness. We need to make our refineries work. It is not rocket science. We hear them on an almost daily basis say Taskforce has demolished or destroyed certain numbers of refineries in Niger Delta creeks. Why can’t you use our universities to process quality control, why will you not use our universities to process cheaper and smaller processes of refining?

“We should stop treating these elites with kid gloves. Our elites are wicked to the country. So, don’t tolerate this new wave of wastage of our resources in the name of a media wave to create a capture of the psyche of Nigerians on subsidy removal that is imminent. What should be imminent is the local refining of crude in Nigeria. Nothing else should be imminent.

“Anybody moving Nigerians in the direction of subsidy removal wants to blow up the country. They can go ahead and blow up the country. But the truth is anything less than refining crude in Nigeria; you cannot push us into that argument. We have been down this route before, and it has never paid off. We keep calling it a fraud and that fraud was confirmed in 2016 when they looked us in the face and told us that they have removed the subsidy. They looked us in the face and said they were finally removing subsidiaries to free Nigerians. We protested, and they said we didn’t have any capacity to stop them and went ahead with it. They should not drag us into any increase in fuel price in the name of subsidy removal. Any increase in petrol price from the government in the name of subsidy removal, we will challenge it. We will work against it, it is straightforward.”

Speaking similarly, the Pro-Labour Civil Society Organisations, the Joint Action Front, JAF, through its Secretary, Abiodun Aremu, said: “JAF is opposed to the neo-liberal policies of privatisation and deregulation at all times.

‘’It is such policy regime that is responsible for the hike in fuel prices, sharp corrupt practices in the petroleum sector and the artificial fuel crisis induced by the Buhari regime in the past eight years

‘’The new NLC leadership needs to restore confidence in Nigerians that labour is, indeed, prepared for a total fight against all inimical socio-economic policies at the heart of the underdevelopment of the country.”

Reacting to labour’s warning yesterday, the chairman of the Major Oil Marketers Association of Nigeria, MOMAN, Olumide Adeosun, said major marketers were not comfortable with the sustenance of petrol subsidy because it had over the years stifled investment and growth in the sector.

He said: “We need full deregulation in line with the provisions of the Petroleum Industry ACT, PIA. The legislation is ultimately the best for the nation.”

Similarly, the National Operations Controller, the Independent Petroleum Marketers Association of Nigeria, IPMAN, Mike Osatuyi, said the Federal Government had continued to subsidise the price of petrol because of continued regulation of the sector.

He said: “We have always been opposed to petrol subsidies. We believe that subsidy will cease to be once the downstream sector is deregulated.

“This is required to conserve funds currently expended on subsidy as well as attract serious investors to invest, thus growing the sector.”

Also speaking, the Chief Executive Officer, the Centre for the Promotion of Private Enterprise, Dr Muda Yusuf, said: “It is clear that the current petrol subsidy is fiscally unsustainable.

“But there is a need to creatively manage the transition from the current pricing regime to a fully or partially deregulated arrangement. It is a tricky issue which could pose a serious challenge to the government if not tactically managed.

‘’The reality is that the sentiments among the citizenry are not favourable to the deregulation of petroleum product pricing or petrol subsidy removal. Even some elites are curiously not persuaded by the justification for the subsidy removal.

“If the policy transition is not properly managed, there is a risk of a social and political backlash which may be difficult to contain. No doubt, there is a sound economic and business case in favour of fuel subsidy removal.

‘’But the social and political contexts are equally critical. The subsidy is not sustainable, which is why there is a need to accelerate engagement with the relevant stakeholders to come up with a policy transition strategy that is sustainable, realistic and pragmatic. The conversation should not only be economic, but also social and political.”

“We need to expeditiously address the ongoing rehabilitation of our refineries. Domestic refining of petroleum products will ease the currently prohibitive cost of petroleum products which is largely a consequence of our vulnerability to volatilities in global oil prices and currency depreciation. The Dangote Refinery should also be supported to ensure early completion.”

Source: Vanguard

Featured

A Cultural Trilogy: Celebrating Diversity, Heritage, and the Inspiring Presence of Chief Dr. Dele Momodu in Calgary

Published

8 hours ago

October 12, 2024

Eric

By Lanre Ajayi

The vibrant city of Calgary played host to an extraordinary three-day cultural celebration, A Cultural Trilogy, from September 26th to 28th, 2024, featuring the esteemed Chief Dr. Dele Momodu. This unique event, organized by Ethnik Festivals, brought together diverse communities and highlighted the richness of cultural heritage, business innovation, and artistic expression. Chief Dr. Dele Momodu, a globally recognized journalist, businessman, and cultural ambassador, graced the occasion with his presence, making it a landmark experience for the Nigerian and broader African community in Canada. His first-ever visit to Calgary was met with great excitement, high emotions, and warm hospitality, making it a truly memorable journey.

Day 1: Thursday, September 26, 2024

Morning and Afternoon Visits

The event kicked off with a courtesy visit to Osuji & Smith Law Firm at noon. Being the largest Black-owned law firm in Canada, it was the perfect starting point to honor the African community’s achievements in the legal field. Chief Momodu engaged in insightful discussions, exchanged ideas with the team, and highlighted the importance of legal representation for African diaspora communities.

Following this, he visited Motif Photography Studio, the first Black-owned photography studio in Calgary, owned by a black young, talented entrepreneur. The atmosphere was lively as Chief Momodu commended the efforts of local entrepreneurs who are making significant strides in creative industries. The studio visit concluded with a special photography session capturing the momentous occasion, which Chief Momodu humorously referred to as “a moment to be framed for the books.”

After a delightful lunch break at Delish Dining, where Chief Momodu enjoyed a traditional Nigerian dish of Eba and Egusi soup, the delegation returned to the Sheraton Eau Claire Hotel for a short rest, preparing for an eventful evening ahead.

Evening Event: University of Calgary

With Rondel Roberts in the middle and the Dean of the Faculty of African Studies

In the evening, Chief Momodu made his way to the University of Calgary, where he delivered a keynote address at the Department of African Studies. The venue was filled with eager students, faculty members, and community leaders. His speech, centered around “The Role of Youth in Shaping Africa’s Future,” was both powerful and thought-provoking, leaving the audience deeply moved. Following the address, a lively Q&A session allowed attendees to engage directly with Chief Momodu, discussing topics ranging from media representation to youth leadership.

The evening concluded with a vibrant cultural performance by the Rondel Roberts Band, a local Calgary-based group that showcased a fusion of Afro-beat and jazz. Tobi, a dynamic solo artist, added to the spirit of the evening, setting the stage for an unforgettable night that reflected the rich musical heritage of the African continent.

Day 2: Friday, September 27, 2024

Morning and Afternoon Highlights

Day 2 began with a courtesy visit to Flavours Restaurant, the first Nigerian restaurant in Calgary. The aroma of Jollof rice, plantains, and suya filled the air as Chief Momodu, alongside local business leaders and government officials, engaged in a casual yet impactful discussion on the economic contributions of African businesses in Canada. It was a powerful reminder of the strength and potential of the African business community in diaspora.

Chief Momodu’s admiration for the entrepreneurial spirit was evident as he mingled with various business owners, offering words of encouragement and sharing his own journey of building a transcontinental media empire.

Evening Event: International Business Summit & Cocktail Reception

The evening unfolded at the Central Library, Downtown Calgary, where the International Business Summit & Cocktail Reception took place. The grand venue was abuzz with activity as dignitaries, local businesses, and community leaders arrived, dressed in their finest attire. The event opened with a red-carpet welcome, where guests were treated to performances by the Young Bhangra Club of Calgary, setting a vibrant and inclusive tone for the night.

A series of business presentations followed, featuring leading entrepreneurs such as Alabi Adenekan of JL13 Concept Inc., Tola Jimoh of Calgary Luxury Photography, and Samusideen Kazeem from KSA Immigration.

The evening reached a high point with a panel discussion involving local business leaders, followed by a networking session where attendees had the chance to connect over a curated menu featuring Jollof rice, grilled shrimp, and an array of Nigerian delicacies. The night was not just a business gathering, but a celebration of shared heritage, entrepreneurship, and the collective future of the African community in Canada.

Day 3: Saturday, September 28, 2024

Morning and Afternoon Visits

The final day of the trilogy began with a visit to Health Watch Medical Clinic, a prominent Nigerian-owned medical clinic in Calgary. Chief Momodu took time to interact with the staff, praising their dedication to community health and wellness.

He then proceeded to Treasure African Market, an Afro-Canadian grocery store owned by a royal descendant from Ile-Ife. The market, filled with African produce, spices, and crafts, felt like a nostalgic journey back to Nigeria, evoking deep emotions for Chief Momodu.

The store’s unique connection to the Yoruba heritage added a sentimental touch to the visit, as Chief Momodu reflected on the importance of preserving cultural identity in the diaspora.

Evening Event: Cultural Presentations & Storytelling Night

The grand finale of A Cultural Trilogy took place at the Central Library, featuring a spectacular showcase of diverse cultural performances. The evening was graced by the presence of Hon. Muhammad Yaseen, Alberta’s Minister of Trade, Immigration, and Multiculturalism, who emphasized the importance of embracing diversity in his welcome speech.

The highlight of the night was the White Hat Ceremony, a Calgary tradition symbolizing hospitality and community spirit. As Chief Momodu donned the iconic White Hat, an overwhelming sense of pride and emotion swept through the audience. For Chief Momodu, it was a moment of honor and acceptance, marking his deep connection with Calgary and its people.

With each performance, from Egyptian folk dance to Thai traditional music, Korean Samulnori drumming to Caribbean dance rhythms, the audience was transported across continents. The diversity of artistic expression and storytelling was a testament to the shared values of unity, resilience, and cultural pride.

The evening ended with heartfelt remarks by Chief Momodu, who expressed his gratitude for the warm welcome and the opportunity to experience Calgary’s vibrant multicultural scene. The audience responded with a standing ovation, a fitting end to a three-day celebration of heritage, creativity, and community.

The Emotional Impact

Throughout the three days, Chief Dr. Dele Momodu’s presence brought a sense of gravitas and inspiration. His personal reflections, candid conversations, and unwavering support for the African diaspora community left a lasting impression on everyone he encountered. From the emotional resonance of the White Hat Ceremony to his joyful engagement with the youth and business leaders, each moment was filled with a sense of connection and shared purpose.

Conclusion

A Cultural Trilogy was more than just a series of events; it was a powerful reminder of the strength of cultural diversity and the importance of community. Chief Dr. Dele Momodu’s first visit to Calgary will be remembered as a milestone, a celebration of identity, and a call to action for continued collaboration and empowerment. His presence, heartfelt reflections, and inspiring words left a lasting impact on everyone who attended A Cultural Trilogy.

As the curtains closed on this memorable event, Chief Momodu expressed his eagerness to return for the upcoming International Art and Culture Festival, scheduled for February 21 and 22, 2025. This festival promises to be the largest cultural celebration of the year in Calgary, and Chief Momodu is looking forward to witnessing an even greater display of art, heritage, and diversity. With anticipation building, Calgary’s multicultural community is already preparing to make this an unforgettable showcase, further strengthening the ties that were forged during this historic visit.

Featured

A Peep into the World of Nollywood Acctress, Judith Iwu

Published

3 days ago

October 10, 2024

Eric

Name: Judith Iwu

Age: 42 years old

Place of Birth: Sokoto State, Nigeria

Partner: Ogechi Nwanekwu

Children: Bayo Iwu, Kizito Iwu, Angelica Iwu

Height: 6 feet tall

Award: International Media Personality Award

Career:

Judith Iwu is a renowned Nigerian actress with a distinguished career in Nollywood. Her exceptional acting talent has made her a standout performer in the industry, known for taking on complex roles that captivate audiences.

Notable Movies:

Judith Iwu has starred in several notable movies, including:

“House of Trouble”

“Priceless Woman”

“Nicest Gifts to Men”

“Evil Household”

“Virgins on Fire”

“Agony of Love”

“The Tigress”

These films have showcased her versatility, earning her respect from both peers and fans in the entertainment world.

Award:

Judith Iwu received the prestigious International Media Personality Award, highlighting her contributions not only as an actress but as a key figure in the media space. Her work continues to inspire upcoming talent within the industry.

Ended Marriage:

Judith Iwu’s marriage ended in 2006. After this, she faced the challenge of raising her three children—Bayo, Kizito, and Angelica—singlehandedly. Despite the personal difficulties, she balanced her responsibilities as a mother with her thriving acting career.

Current Partner:

Judith is currently in a supportive relationship with Ogechi Nwanekwu, who plays a significant role in her life. Together, they navigate their shared life while Judith continues to pursue her passions in the entertainment industry.

Featured

Dele Momodu Bags NAOSNP Media Icon of the Decade Award, Thanks ‘Colleagues’

Published

3 days ago

October 10, 2024

Eric

By Eric Elezuo

Veteran and celebrated journalist, who is the Chairman, Ovation Media Group, Aare Dele Momodu, has been named the National Association of Online Security News Publishers (NAOSNP) Media Icon of the Decade for his contribution to the field of journalism as well as lifting budding journalists to reach their desired heights.

The award was presented by the Minister of State for Police Affairs, Hajia Imaan Sulaiman-Ibrahim, who was the Distinguished Guest of Honour at the occasion, assisted by the Assistant Inspector-General of Police in charge of Zone 2, Onikan, AIG Adegoke Fayoade, President of NAOSNP, Samson Oki and a host of other dignitaries present, at the 2024 National Security Conference of the Association, held at the Oriental Hotel, Lagos, on Wednesday.

In her remarks at the presentation, the Honourable Minister praised the Ovation boss for his continuous to journalism, projecting African business and political leaders as well as other Nigerians in a positive light.

“We thank you Mr Ovation for all you do and continue to do. You deserve the award, and I happily present it to you,” the Minister, who reminisced with gusto the season Ovation covered her event, said.

In his response, an elated Dele Momodu, expressed gratitude to the executives and members of NAOSNP, whom he modestly described as ‘colleagues’, for considering him for the award, saying that it is always a thing of joy when your own constituency acknowledges your good works, and shows appreciation.

“I thank the members of this association for this award. It is fulfilling when your own colleagues remember you, and support you with an award of thus type. I thank the honorable minister for being available to present it to me. God bless the Federal Republic of Nigeria,” he said with a sense of patriotism.

Born on May 16, 1960, in the ancient city of Ile-Ife, Osun State, Chief Dele Momodu, a distinguished African Journalist of high repute, fulfills the dictates of impeccability in credentials, testimonials and track record.

A publisher, businessman, philanthropist, and more, he runs the highly rated Ovation International Magazine, a member of the Ovation Media Group, that has given publicity to numerous personalities. Others in his line of publications are Ovation Television and The Boss Newspaper.

Momodu has redefined negative perceptions of Africa, profiling positively African personalities, using his X, Instagram and more, where his followership runs into millions.

A former presidential candidate, Momodu has a degree in Yoruba, from the Obafemi Awolowo University and Doctorates (honoris causa) from various universities, with multiple traditional titles.

He is well traveled, and has visited over 69 countries of the world.

He is married, with four children.