There is no gainsaying that times are hard. The rising cost of living as a result of the removal of subsidy on petrol in Nigeria has worsened an already bad situation. Many more people have become beggars due to the inability to meet their basic needs. Interestingly, I am also a beggar! Are you surprised? Remember, the rich also cry! I have had to severally beg friends and colleagues for assistance due to the lull in my consultancy business. Ironically, being a media personality, many misconstrue being famous as being rich. Weekly, I receive a lot of SOS from readers, listeners and viewers, especially those who have my contacts. They do not realise that I am also hard up financially and borrowing to make ends meet.
Arising from the subsidy removal on May 29, 2023, President Bola Tinubu on July 31 reeled out several economic relief packages to cushion the deleterious effect of the harsh economic policy. Two months down the line, how have the federal and state governments fared? Not very well I dare say. For instance, the loan schemes such as N75bn to fund 75 enterprises with great potential to kick-start a sustainable economic growth, accelerate structural transformation and improve productivity are yet to take off. Likewise, the N125bn meant to energise the micro, small and medium enterprises sector remains on paper.
The president said he had ordered the release of 200,000 metric tonnes of grains from strategic reserves to households across the 36 states and the Federal Capital Territory to moderate prices. He said his administration would also be providing 225,000 metric tonnes of fertiliser, seedlings and other inputs to farmers who are committed to its food security agenda. While about 10 states have thus far commenced distribution of some grains such as rice and beans, it is very unclear if these were received from the Federal Government or the one they purchased from the N2bn given to them as grants by the Federal Government out of the N5bn pledged to them during the August 17 National Economic Council meeting.
When the Borno State governor, Prof. Babagana Zulum, spoke during the last NEC meeting, he said “the states are to purchase 100,000 bags of rice and beans among other items,” adding that each of the states is also to receive five trucks of rice. He also said NEC agreed that the frontier states bordering Niger Republic were to be assisted with more palliative materials than other states, considering the influx of refugees into their domains from the troubled neighbouring country.
In the president’s national broadcast of July 31, 2023, he said “N200bn out of the N500bn approved by the National Assembly for subsidy relief packages would be disbursed as follows: N50bn each would be used to cultivate 150,000 hectares of rice and maize. N50bn each would also be earmarked to cultivate 100,000 hectares of wheat and cassava.” Any update on this? The new ministers of Agriculture and Finance owe Nigerians explanation on the state of play on this issue.
Tinubu also pledged that he had approved the Infrastructure Support Fund for the states. He said the Infrastructure Fund would enable states to intervene and invest in critical areas and bring relief to many as well as revamp decaying healthcare and educational infrastructure. The fund is expected to bring improvements to rural access roads to ease the evacuation of farm produce to markets. It is doubtful if any state had received any amount for this purpose. Meanwhile, in Enugu, Bauchi and Oyo states, some of the interstate link bridges have caved in and in need of urgent repairs. Two months down the line, the president did not give a breakdown on how much each state will receive for this ISF and the timeline for the release of funds.
The president made mention of the provision to invest N100bn between July 2023 and March 2024 to acquire 3,000 units of 20-seater Compressed Natural Gas powered buses. These buses are to be shared to major transportation companies in the states, using the intensity of travel per capita. Participating transport companies are to access credit under this facility at nine per cent per annum with 60 months’ repayment period. It is important to have an update on when the first batch of these buses will arrive and be put on the road for commuters. It is also important to know where we are with FG’s gas conversion policy. Recall that this will enable petrol and diesel vehicles to be converted to CNG-fueled. Last Sunday on Newsline on Nigerian Television Authority, I watched the Kwara State University convert a petrol-powered bus to electric-powered. Similar feat had earlier been performed by a young entrepreneur in Borno State, Mustapha Gajibo, who converted over 10 automobiles running on petrol to solar-powered minibuses. These are initiatives the Federal Government can give financial support for mass production and distribution.
I was on Radio Link, an audience participation magazine progrmme of the Federal Radio Corporation of Nigeria last Saturday, September 23. The topic of discussion was an assessment of the federal and state governments’ economic relief packages. Reports from the Minister of Humanitarian Affairs show that the Federal Government hasn’t commenced the distribution of its own food packs. Reports across about 10 states and the FCT from Radio Nigeria correspondents showed that only few states such as Osun, Borno, Lagos and Enugu, have commenced the distribution of grains to selected households. However, none of them have anything close to the 100,000 mentioned by Prof. Zulum during his press conference on August 17, 2023. In fact, a viral video allegedly from Kogi State showed people being given something like a measure of rice and N1,000 each. The question is how much relief this can give the poor and hungry souls.
The Federal Government borrowed $800m from the World Bank while Tinubu’s administration later got the National Assembly approval on July 14 to distribute this as a form of Conditional Cash Transfer at N8,000 monthly palliatives for 12 million poor households for six months. Action was suspended on this and since then, nothing has been heard about what has happened to this borrowed fund. It’s important for Tinubu’s government to give an update on this.
According to the National Bureau of Statistics, 133 million Nigerians are multidimensionally poor. It is clear that all the aforementioned economic relief packages of federal and state governments are like a drop in the ocean. A lot more needs to be done to bring succour to the suffering Nigerian masses. As canvassed on Radio Nigeria last Saturday, political parties can as well organise fundraisers and come up with their own economic relief packages for their poor and vulnerable party members. Labour unions receive cheque off dues from their members; nothing stops them from establishing world-class schools and hospitals where the Nigerian masses can enjoy highly subsidised services. The same with subsidised transport services. I know for a fact that churches and mosques have welfare departments where they support members who are in dire need. This is commendable but should be scaled up and extended to members of the public who are not members of their sect or denomination. I also call for religious institutions to establish hospitals like the Catholic Church does and give highly subsidised health care services to the masses. They should also reduce the tuition fees of their schools.
The time has come for corporate organisations doing business in Nigeria to substantially increase their corporate social responsibilities. They need to scale up their charity works to their host communities and the general public. Despite my modest income, I help as many people as I can offer support. It is important to therefore appeal to Nigeria’s wealthy individuals to get involved in philanthropic gestures. The government alone cannot bear the heavy burden of ameliorating poverty. Each of us has what can be given. Used clothes, household utensils and electronic gadgets that are in good condition that we are no longer using can be given out to those in dire need rather than being thrashed. Let’s remember that a giver’s hand is always on top!
X: @jideojong
