UNSAVOURY reactions have continued to trail government intervention measures aimed at cushioning the debilitating effects of fuel subsidy removal which have continued to bite harder. President Bola Tinubu had last Monday, in a statewide broadcast, rolled out fresh palliatives to placate millions of Nigerians who continued to groan under the severe economic hardships of the subsidy removal.
THE President announced immediate injection of N75billion to 75 manufacturing enterprises at N1billion each for job creation; injection of N125billion on small and medium-sized enterprises and the informal sector consisting of 1 million nano businesses, 100,000 MSMEs, and start-ups. He also announced that there would be nine percent interest loans available for SMEs, and startups, ranging from N500,000 to N1 million, with a repayment period of 36 months.
FURTHERMORE, Tinubu promised that his government would release 200,000 metric tonnes of grains from strategic reserves to households across the states and FCT; provision of 225,000 metric tonnes of fertilizers seedlings, and other inputs to farmers; to address food price stabilization; and injection of N200billion for the cultivation of rice, maize and cassava among others. Government also announced that it would invest N100 billion in mass transit by distributing 3,000 gas-powered buses for nationwide transportation as well as funding student loans with over N1 trillion saved from fuel subsidy payments, which will be used to support higher education institutions.
THE initial response of the organized labour was to reject government offer accusing the president of being silent on wage award, fixing of refineries and vowed to go ahead with its planned protest which was eventually carried out but later called off.
THE Nigeria Labour Congress (NLC) according to its president, Joe Ajaero, listed its demands as immediate implementation of resolutions reached with the congress, jointly signed with the government and TUC, as well as immediate reversal of all anti-poor policies of the government, such as hike in school fees of tertiary institutions and fuel price; fixing of local refineries in Port Harcourt, Warri, and Kaduna; release of eight months withheld salaries of university lecturers and workers; appropriate recognition and support to the presidential steering committee and the work of its sub-committees; and cessation of inhumane actions and policies of government.
THE Hope notes that as good as the interventions announced by President Tinubu may be, there are still some gaps in addressing the pains Nigerians are going through. For instance, many Nigerians are unhappy by president Tinubu’s silence on security. They chided him for its failure to assure farmers that their lives would be secured if they return to the farms.
THIS is because the acute food shortage in the country is occasioned by insecurity which made farmers to desert the farms. If President Tinubu’s declaration of emergency on food security will achieve the desired goals, providing safe atmosphere for farmers to return to their farmlands is the starting point. Taking it further will now be the injection of technology through mechanized farming to bring about food production and processing in large scale.
WE therefore call on government to address insecurity across the length and breadth of Nigeria. President Tinubu should collaborate with the governors to set up security apparatus at the state and local government levels to bring security closer to the people. The success stories of the Amotekun Corps in Ondo State and some states in the country are pointers to this.
THE Hope further notes that the President’s promise to assist businesses in Nigeria with billions of naira is a drop in the ocean considering the huge economic deficit in the country. Therefore, states and local governments should complement the federal government efforts by rolling out and implementing concrete palliatives to reduce the pains of Nigerians.
MORE importantly, the federal government should, as a matter of urgency, address the dwindling fortunes of the naira which has increased the cost of importation thereby pushing the cost of goods and services beyond the reach of the common man. Hence, government should walk the talk by implementing the promised interventions and push out the palliatives to the target beneficiaries irrespective of political or other considerations. Nigerians want action, not rhetoric!
