2023: Hajia Ahmed Hints Of Buhari’s Awaitig Parting Gift
By Suleiman Umaru
Hajia Zainab Ahmed, minister of Finance, Budget and National Planning, appears to have given an insight to President Muhammadu Buhari’s parting gift for Nigerians. Recall that he has started in 2016, barely one year in office, with an increase in the pump price of Premium Motor Spirit, PMS, popular, petro.
The Katsina state born Nigerian President had, increased the pump price of imported fuel retailed in Nigeria’s filling stations from N87.00, per litre, inherited from Former President Goodluck Jonathan to N145 per litre and wants to end his eight year –old Administration, by May 29, 2023, with an additional increase in the pump price of petrol.
Hajia Ahmed , who was said to have urged Nigerians , ahead of the 2023, general elections to race up for another increase in the pump price of petrol, had said that Nigerians may no longer go on with payment of fuel subsidy to markers after the implementation of the 2023-2025 Medium Term Expenditure Framework and Fiscal Strategy Paper.
The minister was said to have told the House of Representatives Committee on Finance in Abuja , the Federal Capital Territory, FCT, recently that the government is proposing ‘’to spend only N3.36 trillion for petrol subsidy in 2023, which might be the last before handing over to the next government.
She was said to have revealed to the Committee members that the government had pegged the, 2023, Fiscal year, crude oil price at $70 per barrel and exchange rate of n435.00 to the North American country of the United States, US, dollar.
Giving an insider information on why the pump price of petrol, will go up , next year, the minister who could not hide her feelings had said hat that the government is proposing an aggregate expenditure of N19.76 trillion for the 2023, financial year, described as election year, with a projected deficit of N11.30 trillion.
This may have informed why she had said that the government will no longer shoulder the responsibility of subsidizing fuel import into the country, meaning that motorists will have to pay more due to the rising price of crude oil in the international oil market. The minister was said to have justified why motorists may have to pay more for a litre of petrol because the country cannot stop fuel importation now even if the nation’s four refineries are working at 90% full capacity.
‘’We cannot stop importation of petrol for now even if the country’s four refineries located in The oil cities of PortHarcourt, Warri and Kaduna, a major city in north western Nigeria are producing at 90% of its installed capacity’’, she had said.
Tthe Katsina born Nigerian President who had been under pressure from the marketers and the cabal in the Presidency, to deregulate the sales of petrol in the Nigerian markets. The marketers and the cabal, according to informed sources want the Nigerian President ‘’to implement Vice President Yemi Osinbajo led National Executive Committee, NEC, recommendations of November 2021, for a litre of petrol price to sell at N320 per litre as a way to guarantee fair competition in the market.
Even, the Committee members said to have tried to convince the Nigerian President on the need to implement its recommendations ensure adequate supply of petrol as well as stop smuggling of the subsidised Nigerian imported petrol to the neighbouring countries of Benin Republic, Niger and the Central African country of Cameroon.
It is interesting to note that the Committee in its report had said had said that the recommendations that were put forward was an inteface with the report of the ad-hoc of the Nigerian National Petroleum Corporation, NNPC, now baptized Nigerian Petroleum Company limited, with the passage of the Petroleum industry Bill, PIB, by the National Assembly, which had been signed into Law by the President in June, 2021. The NNPC, ad-hoc Committittee was said to have been led by Nasir el-Rufai.
The Osinbajo led NEC, recommendation was said to have been considered and approved by the Federal Executive Council, FEC, but it could not be implemented last January to avoid hitting up the economy that may have worsen the country’s inflationary rate.
Although, it was eventually dropped by FEC, but the markers were aid to have unilaterally pegged the pump price of a litre of petrol between N175.00 and N190.00 per litre, depending on the filling state. Officials of the Nigeria Midstream and Down sream Ptroeum Regulatory Commission, NMDRPRA, had said that they gave the nod to the marketers to increase their pump price to N175 .00 per litre for filling stations in the cities and other major towns across the country and a maximum of N190.00 per litre on the outskirts but that was how far the Commission could go.
The government may have known the implications of claiming credit for the increase in the pump price of petrol instead of enforcing the approved price of N165.00 per litre that it had distanced itself from it. insisting that it was a decision that was taken by the marketers alone without official approval by the government.
The questions on the lips of most people was: if it was unilateral decision taken by the marketers in their respective filling staytios across the country,What efforts did the government, through the NMDPRA, do to stop it. Many believe that the Nigerian government may be testing the waters before finally removing the much talked about fuel subsidy.
Until the marketerrs took unilateral decision to increase the pump price of petrol per litre this year, as alleged by the government, Mele Kolo Kyari, Group Managing Director, NNPC, Had told those that cares to listen that ‘’subsidy on PMS, ought to haven eliminated by the Buhari Administration since 2020 but many undisclosed factors had prevented it.
The Nigerian Pesident, who was said to have been speaking through Kyari, the NNPC, Chief Executive Officer, CEO, and Temipre Sylva, a former governor of Bayelsa state and now minister of state , Petroleum Resources , on the issue of petrol subsidy removal, was said to have stated clearly in 2021 that nobody should be in doubt that fuel subsidy would be removed .
He had hinted that that fuel subsidy removal would definitely be removed in 2022 as it was backed by Law, noting that ‘’the price of the product may range between N320.00 per litre and N340.00 per litre. Note that, N320.00 was the price recommended by the NNPC, NEC, for the sale of the product at the retail filling tations while NNPC, had poposed N340.00 for the sale of a litre of Petrol.
\ The government may have settled for N320.00 to sell a litre of petrol butmay not be a hurry to mplement because of the upcoming general elections.
Notwithstanding, that the Federal government has not made any official Statement about fuel subsidy removal, El-Rufai, governor of the north west state of Kaduna, which has been under the siege of the trans-border Bandits Group, el-Rufai, the state governor, had said that ‘’there was no going back on the fuel subsidy removal as ‘’the state governors are ready to support Buhari in the elimination of fuel subsidy regime’’.
Lai Mohammed, minister of infomation and Culture had justified the government removal of fuel subsidy in 2016 to the fact that ‘’the government needed to increase the pump price of petrol to raise money to run the system since the country was broke’’. He had said that the country’s foreign earnings from crude oil sales had drastically reduced as at the time Buhari took over the mantle of Leadership from Jonathan in 2015, forcing the new government ‘’to look inwards to generate more revenue to run the system’’.
The Kaduna state governor had shocked Nigerians, when he recently that ‘’if the regime of fuel subsidy is not removed, 35 out of the 36 states of the Federation may not be able to pay salaries. Garba Shehu, Senior Special Assistant to the President on Media and Publicity , had said that ‘’History will not be kind to the Nigerian President for not removing fuel subsidy in order to make the industry to be more competitive.
The Media Aide to the President had said that he will be remembered after his eight years in office as a Nigerian President who took the bold initiative ‘’ to make real contributions to the country’s economic and overall national development by ‘’eliminating the evils of corruption associated in fuel subsidies’’.
Hear him: Buhari takes s some difficult decisions that may seem to be unpopular, but at the long run people will discover that he was demonstrating the right courage’’to take such decisions as they had become necessary in view of the present circumstances’’.
By Suleiman Umaru
Hajia Zainab Ahmed, minister of Finance, Budget and National Planning, appears to have given an insight to President Muhammadu Buhari’s parting gift for Nigerians. Recall that he has started in 2016, barely one year in office, with an increase in the pump price of Premium Motor Spirit, PMS, popular, petro.
The Katsina state born Nigerian President had, increased the pump price of imported fuel retailed in Nigeria’s filling stations from N87.00, per litre, inherited from Former President Goodluck Jonathan to N145 per litre and wants to end his eight year –old Administration, by May 29, 2023, with an additional increase in the pump price of petrol.
Hajia Ahmed , who was said to have urged Nigerians , ahead of the 2023, general elections to race up for another increase in the pump price of petrol, had said that Nigerians may no longer go on with payment of fuel subsidy to markers after the implementation of the 2023-2025 Medium Term Expenditure Framework and Fiscal Strategy Paper.
The minister was said to have told the House of Representatives Committee on Finance in Abuja , the Federal Capital Territory, FCT, recently that the government is proposing ‘’to spend only N3.36 trillion for petrol subsidy in 2023, which might be the last before handing over to the next government.
She was said to have revealed to the Committee members that the government had pegged the, 2023, Fiscal year, crude oil price at $70 per barrel and exchange rate of n435.00 to the North American country of the United States, US, dollar.
Giving an insider information on why the pump price of petrol, will go up , next year, the minister who could not hide her feelings had said hat that the government is proposing an aggregate expenditure of N19.76 trillion for the 2023, financial year, described as election year, with a projected deficit of N11.30 trillion.
This may have informed why she had said that the government will no longer shoulder the responsibility of subsidizing fuel import into the country, meaning that motorists will have to pay more due to the rising price of crude oil in the international oil market. The minister was said to have justified why motorists may have to pay more for a litre of petrol because the country cannot stop fuel importation now even if the nation’s four refineries are working at 90% full capacity.
‘’We cannot stop importation of petrol for now even if the country’s four refineries located in The oil cities of PortHarcourt, Warri and Kaduna, a major city in north western Nigeria are producing at 90% of its installed capacity’’, she had said.
Tthe Katsina born Nigerian President who had been under pressure from the marketers and the cabal in the Presidency, to deregulate the sales of petrol in the Nigerian markets. The marketers and the cabal, according to informed sources want the Nigerian President ‘’to implement Vice President Yemi Osinbajo led National Executive Committee, NEC, recommendations of November 2021, for a litre of petrol price to sell at N320 per litre as a way to guarantee fair competition in the market.
Even, the Committee members said to have tried to convince the Nigerian President on the need to implement its recommendations ensure adequate supply of petrol as well as stop smuggling of the subsidised Nigerian imported petrol to the neighbouring countries of Benin Republic, Niger and the Central African country of Cameroon.
It is interesting to note that the Committee in its report had said had said that the recommendations that were put forward was an inteface with the report of the ad-hoc of the Nigerian National Petroleum Corporation, NNPC, now baptized Nigerian Petroleum Company limited, with the passage of the Petroleum industry Bill, PIB, by the National Assembly, which had been signed into Law by the President in June, 2021. The NNPC, ad-hoc Committittee was said to have been led by Nasir el-Rufai.
The Osinbajo led NEC, recommendation was said to have been considered and approved by the Federal Executive Council, FEC, but it could not be implemented last January to avoid hitting up the economy that may have worsen the country’s inflationary rate.
Although, it was eventually dropped by FEC, but the markers were aid to have unilaterally pegged the pump price of a litre of petrol between N175.00 and N190.00 per litre, depending on the filling state. Officials of the Nigeria Midstream and Down sream Ptroeum Regulatory Commission, NMDRPRA, had said that they gave the nod to the marketers to increase their pump price to N175 .00 per litre for filling stations in the cities and other major towns across the country and a maximum of N190.00 per litre on the outskirts but that was how far the Commission could go.
The government may have known the implications of claiming credit for the increase in the pump price of petrol instead of enforcing the approved price of N165.00 per litre that it had distanced itself from it. insisting that it was a decision that was taken by the marketers alone without official approval by the government.
The questions on the lips of most people was: if it was unilateral decision taken by the marketers in their respective filling staytios across the country,What efforts did the government, through the NMDPRA, do to stop it. Many believe that the Nigerian government may be testing the waters before finally removing the much talked about fuel subsidy.
Until the marketerrs took unilateral decision to increase the pump price of petrol per litre this year, as alleged by the government, Mele Kolo Kyari, Group Managing Director, NNPC, Had told those that cares to listen that ‘’subsidy on PMS, ought to haven eliminated by the Buhari Administration since 2020 but many undisclosed factors had prevented it.
The Nigerian Pesident, who was said to have been speaking through Kyari, the NNPC, Chief Executive Officer, CEO, and Temipre Sylva, a former governor of Bayelsa state and now minister of state , Petroleum Resources , on the issue of petrol subsidy removal, was said to have stated clearly in 2021 that nobody should be in doubt that fuel subsidy would be removed .
He had hinted that that fuel subsidy removal would definitely be removed in 2022 as it was backed by Law, noting that ‘’the price of the product may range between N320.00 per litre and N340.00 per litre. Note that, N320.00 was the price recommended by the NNPC, NEC, for the sale of the product at the retail filling tations while NNPC, had poposed N340.00 for the sale of a litre of Petrol.
\ The government may have settled for N320.00 to sell a litre of petrol butmay not be a hurry to mplement because of the upcoming general elections.
Notwithstanding, that the Federal government has not made any official Statement about fuel subsidy removal, El-Rufai, governor of the north west state of Kaduna, which has been under the siege of the trans-border Bandits Group, el-Rufai, the state governor, had said that ‘’there was no going back on the fuel subsidy removal as ‘’the state governors are ready to support Buhari in the elimination of fuel subsidy regime’’.
Lai Mohammed, minister of infomation and Culture had justified the government removal of fuel subsidy in 2016 to the fact that ‘’the government needed to increase the pump price of petrol to raise money to run the system since the country was broke’’. He had said that the country’s foreign earnings from crude oil sales had drastically reduced as at the time Buhari took over the mantle of Leadership from Jonathan in 2015, forcing the new government ‘’to look inwards to generate more revenue to run the system’’.
The Kaduna state governor had shocked Nigerians, when he recently that ‘’if the regime of fuel subsidy is not removed, 35 out of the 36 states of the Federation may not be able to pay salaries. Garba Shehu, Senior Special Assistant to the President on Media and Publicity , had said that ‘’History will not be kind to the Nigerian President for not removing fuel subsidy in order to make the industry to be more competitive.
The Media Aide to the President had said that he will be remembered after his eight years in office as a Nigerian President who took the bold initiative ‘’ to make real contributions to the country’s economic and overall national development by ‘’eliminating the evils of corruption associated in fuel subsidies’’.
Hear him: Buhari takes s some difficult decisions that may seem to be unpopular, but at the long run people will discover that he was demonstrating the right courage’’to take such decisions as they had become necessary in view of the present circumstances’’.
