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Who Released, Killed And Ate Our Lion? By Reuben Abati

Abati“Did they send you your own share of the bush meat?”

“Bush meat?”

“The lion in the zoo that became bush meat in Jos”

“What’s my own inside? I don’t know any zoo worker in Jos and how could a lion that was allowed out of its cage and got shot end up in my stomach. The kind of things you say sometimes.”

“That means you have not been following the story.”

“It is an animal tale”

“Created, concocted and delivered by animals in human skin, working in animal kingdom, telling us animal tales. What surprises me is the fact that there has been no public uproar, no outrage.”

“People are too busy thinking of how to survive as human beings, how to fight the current nationwide epidemic of empty pockets and stomachs, and survive the change in their lives.”

“But when a similar incident occurred at the Hwange National Park in Zimbabwe, there was serious outrage all over the world. Dr. Palmer, the American who killed the lion was the target of abuse and attacks. He even had to shut down his dental office. There were calls for his prosecution.”

“I know. In our case, the international community is indifferent. It is as if nothing has happened. A lion was killed in Zimbabwe; there was protest. A few days ago in Kenya, two Maasai herdsmen were charged for poisoning a lion. A lion is killed in Nigeria, not a whimper. “

“The truth is that the rest of the world is convinced that Nigeria itself is a zoo. Boko Haram is slaughtering thousands of human beings, girls are being abducted in hundreds, women are being raped, voters are getting killed in Kogi and Bayelsa. With such evils against humanity, why should anyone worry about a Nigerian lion being shot and ending up in the zoo of stomachs?”

“The zoo of stomachs”

“Look, I can swear that if you open some people’s stomachs in this country, what you will find is a zoo: lions, grasshoppers, horses, cats, rats, snakes, dogs, rabbits, antelopes, crocodiles, birds, elephants, extinct animals, disappearing species, anything that can serve the gut, and ginger the taste buds. That is why we can never successfully run a zoo, or a Games Reserve.”

“See, the situation in Zimbabwe with Cecil, the lion is no different. In Zimbabwe, the zoo guides deliberately released the lion and Dr. Palmer laid siege and gunned down the lion, and beheaded it. In Jos, their explanation is that the lion slipped out of its cage when it was being fed breakfast.”

“Lying liars. Fibbing fibbers.”

“They made it sound as if the lion was living in a room and parlour and he just moved from the room to the parlour, to the verandah and to the streets.  It is a zoo, for Heaven’s sake and there are standards and best practices!.”

“How will they know what the best practice is, when they don’t even know the age of the lion? The manager of the zoo says the lion has been there since 1972. A 43-year old lion, and yet there is no established protocol for managing it.”

“There is no 43-year old lion anywhere in the world. That is a lie. They don’t have records. They don’t keep records.”

“The lion doesn’t even have a name. In Zimbabwe, and Kenya, they name their lions.”

“That is not a problem. We can give the lion a name, right now. What is the name of the state Governor?”

“Simon Lalong.  What about him?”

“Good.  Simon, the lion. How about that?”

“Ha. The man is still alive oh. And of what use is a name to a lion that is dead, skinned, cut into bits and pieces, taken home to the cooking pots, eaten, digested, and washed down with whatever the animals eating animal meat deemed fit.”

“The very reason the Governor should order a serious investigation. Who released the lion? And why? Who killed it, skinned it? And who took part in the Feast of the Lion? For all you know, the zoo-keeper deliberately released the lion. He may have been commissioned to do so, by herbalists, who I hear value the body parts of a lion. In that kind of world, the teeth of a lion, the paws, the skin, the ears, all of this can be used by ritualists to give a human being, lion-like powers.”

“Blood of Jesus!”

“Did you not see how the killers posed with the lion for photograph, drooling from the mouth, salivating, looking hungry?

“They made it seem as if the lion was a jailbird who escaped, and resisting arrest, they shot it, instead of tranquilizing it. And they turned the zoo into an abattoir!”

“All the characters involved should be investigated and sacked. Otherwise, tomorrow, they will release a rabbit and gun it down, next tomorrow, an antelope will also break jail, and it will be shot, to be followed by a snake, all getting shot and ending up in people’s pots as bush meat.”

“That is why we can’t run a proper zoo, games reserve or a tourism programme. We talk about climate change and the environment but we don’t know that animals are important to the ecosystem. Sad.”

“Have you not heard of the lion that the Saraki Senate has also let loose?”

“A zoo in the Senate? I don’t get it.”

“They have just released one lion called Social Media Bill.”

“You mean the Frivolous Petitions Prohibition Bill”

“The law seeks to gag the social media. It says you can’t even complain on your what’s app, email, twitter, BB or blog and if you say something that is frivolous, you can go to jail or pay a fine.”

“That is an assault on the fundamental right to free speech; a dangerous lion that should be tranquilized!”

“They don’t have tranquilizer in Jos zoo or any other zoo in Nigeria, is it in the Senate that they will have it? Look, some activists have decided to organize their own public hearings and shoot down this particular lion.”

“Let’s go there then. Let the shooting shooters, the gunning gunners, the writing writers, the protesting protesters, the marching marchers, the shouting shouters, the fighting fighters, the petitioning petitioners, the blogging bloggers and the tweeting children of anger have their own public hearing. That’s democracy.”

“You left out the Wailing Wailers”

“They too. I think this is the type of lion that Nigerians should kill, not Simon.”
“I like your passion. But there was a protest in Abuja on Tuesday. I didn’t see you joining them?”

“Hen. Hen. You want them to mistake me for a lion that escaped and shoot me, abi? You don’t know that to be an activist, you must also be wise, and protect your stomach from bullets.”

“I thought you were bullet-proof. And you need not be afraid, anyway. The Senate has made it clear that it is acting in the public interest and that its members are not opposed to free speech. Just a simple matter.”

“Please! My fear is that they are all shooting already and because they are yet to hit target, there are stray bullets flying all around, respecting nobody. You go and ask Dino.”

“Which of the Dinos? Dino 1, Dino 2, Dino 3 or Dino $1,000?”

“I don’t know. But the people in Aso Rock have been smart enough to duck.  They are now talking about free speech. Free speech. Free speech! Thank God oh, for free speech!”

“Not in Bayelsa at this time, though. Or in Kogi, where people are suspicious of tomorrow.”

“Why not in Bayelsa? I saw the people insisting that they should be allowed to choose  their Governor. Too much violence in that election.”

“I hear Countriman has declared that he’s not going to die and that the election will be concluded.”

“Who is so-called?”

“Dickson”

“Ha, Dickson na Ijebu Ode boy oh. Him no ready to die. Bobo no go die, afi to ba di Governor. Bobo!”

But INEC says the Bayelsa election is inconclusive.”

“This new INEC should just be renamed Inconclusive National Electoral Commission (INEC). If they take weeks to conduct elections in eight local governments, with less than one million voters, if they have to run a nationwide election, then the entire country will be declared inconclusive. Where is Jega by the way? They need him as a Consultant.”

“Why? Let him enjoy his retirement, I beg.”

“Why not?”

“It is called change, my brother.”

“But not in Kogi where I hear the Deputy-Governor elect is swearing that if he is not allowed to inherit the Audu-Faleke undeclared victory, he will not show up to be sworn in as a Deputy Governor on January 27, 2016.”

“He doesn’t want to be Deputy Governor again?”

“He says he cannot betray former Governor Abubakar Audu.”

“Ha. Inconclusive matter! I think we should declare 2015 our year of inconclusiveness. 2015: Nigeria’s Inconclusive Year. How about that?

“Nigeria’s Year of Inconclusivity.”

“Two weeks to Christmas, see how people are looking sad. Some people this year will just pretend that there is no Christmas, Christmas having been declared inconclusive! Even prostitutes have reduced their charging rates; everybody is looking for survival, and anything is fair game, be it a live lion, or the people’s rights or what is that famous blogger’s favourite word again? Yes, eggplant. As Douglas Adams said: to summarize the summary of a summary, people are a problem.”

Tell me more about these prostitutes and their current rate cards.”

“No be me and you.  You go and find out. You see, you are part of the problem.”

“That includes you too, I beg. You always talk about change; now you have it, and you don’t want to talk about it. My friend, don’t complain. Go and sit down.”

“Change?”

“Change is the necessity of history”

“You know the truth?”

“What?”

“Things do not change, we do.”  Henry David Thoreau.”

“I don’t know him. You know what? Stop quoting dead people.” [myad]

How We Diverted $322 Million Abacha Loot To Dasuki, Okonjo-Iweala Reveals

Okonjo Iweala and JonathanNigeria’s former Minister of Finance and Coordinating Minister of the Economy, Dr. Ngozi Okonjo-Iweala has revealed how she, former President Goodluck Jonathan and former Minister of Justice had a meeting and resolved to divert the sum of $322 which was the late General Sani Abacha’s loot that was returned to Nigeria, to the former National Security Adviser (NSA), Colonel Sambo Dasuki (rtd.) to prosecute the war against Boko Haram.

The fresh revelation which came in the form of statement by her media adviser, Paul Nwabuikwu, was a reaction to allegations that she illegally authorized the diversion of recently recovered Abacha loot during the administration of former president, Goodluck Jonathan, describing it as “part of a campaign of falsehood” to “tarnish her image.”

The former minister noted that the contents of a memo dated January 20, 2015 in which she responded to a request by the former NSA, Col. Dasuki for funds to prosecute the war against Boko Haram, was “distorted.”

Okonjo-Iweala who explained that the central responsibility of her ministry was to find sources of funding for the financing of approved national priorities such as security, job creation and infrastructure, recalled that throughout 2014, there were public complaints by the military hierarchy to President Jonathan about the inadequacy of funds to fight the anti-terror war in the North East, resulting in Boko Haram making gains and even taking territories.

She said that a lot of the criticism was directed at her and that she was accused of not doing enough to find funds for the operations.

“In fact, the Ministry, on several occasions, had to call press conferences to provide details of budgetary spending on the military, to show, against the background of limited resources and other urgent national priorities, that it was doing its best on funding security.

“It was about this time that some new Abacha funds of about $322m were returned with another $700m still expected to be returned. ormer President Jonathan set up a Committee comprising of the former Minister of Justice, former NSA and the former Minister of Finance to determine how best to use both the returned and expected funds for development.

“The NSA made a case for using the returned funds for urgent security operations since, he noted, there cannot be any development without peace and security. Based on this, a decision was taken to deploy about $322m for the military operations, while the expected $700m would be applied for development programmes as originally conceived.

“Following the discussions and based on the urgency of the NSA’s memo, Dr Okonjo-Iweala requested the President to approve the transfer of the requested amount to the NSA’s Office for the specified purposes.”

Okonjo-Iweala said that she insisted on three conditions: “a. only a part, not the entire Abacha funds would be spent on the arms; the rest would be invested in developmental projects as originally conceived b. the money was to be treated as borrowed funds which would be paid back as soon as possible c. the NSA’s office was to account for the spending to the President who was the Commander in Chief, given the fact that the Minister of Finance is not part of the security architecture and does not participate in the Security Council.”

She insisted that the attempt to link her name to any misuse of these funds for any purpose other than security as far as she understood it is totally false and cannot stand.

It was alleged that Okonjo-Iweala had illegally approved the transfer of at least N61.4 billion ($300 million and £5.5 million) from funds recovered from late Sani Abacha, to the Office of the National Security Adviser, Sambo Dasuki, for “urgent security needs.” [myad]

INEC Presents Yahaya Bello, Kogi Governor-Elect, With Certificate Of Return

Bello collects certificate of returnThe Independent National Electoral Commission (APC) has presented Alhaji Yahaya Bello of the All Progressives Congress (APC) with the certificate of return as the duly elected governor of Kogi State.

Represented by INEC National Commissioner, Professor Anthonia Okoosi-Simbine, the commission chairman said the exercise followed the conclusion of the governorship election and in accordance with section 75(2) of the Electoral Act (as amended).  The certificate of return was presented to Bello by the INEC Chairman, Prof. Yakubu Mahmud, at about 4:00pm, at INEC’s office in Lokoja.

This was even as the APC today said that it might be constrained to replace its deputy governorship candidate in the recently concluded Kogi state governorship poll if the need arises.

In apparent reaction to the threat by the estranged deputy governorship candidate, Hon. Biodun Faleke, that he would boycott the swearing-in ceremony of the governor-elect, Alhaji Yahaya Bello,  the National Chairman of APC, Chief John Oyegun said that if all reconciliatory moves fail, the party will have no alternative but to seek for his replacement.

Addressing Journalists at the party’s national secretariat on Wednesday in Abuja, Oyegun  said the leadership understood the frustrations that most of the stakeholders in the Kogi governorship tussle underway due to the sudden demise of it late candidate Audu Abubakar, and as such is ready to allow things to simmer.

“On the Faleke issue, it is rather a straightforward and easy issue. We have replaced a governorship candidate. If the need arises and subject to what the law says, we will also get another deputy governorship candidate but we will cross those bridges as they arise but they have not arisen yet,” he said. [myad]

Those Encouraging Igbos To Secede Want Their Economy Destroyed – Igbo Chief

Igbo APC Chief NkireA prominent Igbo politician and member of the All Progressives Congress (APC), Chief Sam Nkire, has described those who are encouraging Igbo people to seek for a new nation by seceding from Nigeria as their enemies who want their economy to be destroyed.

The Igbo chief who was reacting to Professor Wole Soyinka who was said to have declared support for the resurrection of the Republic of Biafra, said that it was only a way of fanning the embers of discord in Igboland.
Nkire. who is a member of the Board of Trustees of the APC, said in Abuja that only those who want Igboland’s economy destroyed would encourage Igbos to go on fighting for secession from Nigeria.
He said that he was disappointed to read that the highly respected Nobel Laureate could at this tensed period of Nigeria’s existence be “lending his leperous hand in the affairs of Igbo people in other to lead them to destruction”.
The APC BoT member said that he was aware that even the Yoruba tribe has had its own unfulfilled dreams since the creation of Nigeria, but has never gone to war.
He therefore advised Professor Soyinka to switch his support for Biafra to the Republic of Oduduwa if he really means well.
Nkire further said no amount of incitement would make the Igbos go to war again for the sake of Biafra, adding that Igbos would remain in Nigeria and negotiate their way to power.
According to the APC chieftain, Igbos were wise enough to know those who wish them well and those envious of their industry and prosperity, adding that anyone who tries to incite Igbos at this point in time only wishes to see the zone return to being a theatre of war. [myad]

Buhari Rallies Support Of International NGOs To Rehabilitate IDPs

IDP CampsPresident Muhammadu Buhari has sought both local and international None Governmental Organizations (NGOs) towards rehabilitating the over two million Internally Displaced Persons (IDPs, especially in the country’s North East. This was even as he said that the return of persons displaced by the Boko Haram insurgency to their home communities will begin in earnest next year.

Speaking at an audience with a delegation from the International  Rescue Committee (IRC), led by former British Foreign Minister, Mr. David Miliband, President Buhari  said that his administration will do all within its powers to facilitate the quick return and resettlement of over two million internally displaced persons in their towns and villages.

The President said that his government will welcome the support of the IRC and other local and international non-governmental organizations for  the rehabilitation of internally displaced persons.

“In 2016, the return of the IDPs will start in earnest.  They will return to their communities to meet destroyed schools and other infrastructure which have to be rebuilt.

“With agriculture being moribund in the region in the last two years without cropping, hunger is already manifest.  We will welcome all the help we can get to assist the returnees.”

Responding to a request by Mr. Miliband for the Federal Government’s priorities as to the nature of assistance required for the IDPs, the President said that there was an urgent need for support in the areas of agricultural inputs, health, nutrition, water and sanitation.

President Buhari urged the IRC and other international agencies to work with the Presidential Committee on the North-East and the National Emergency Management Agency (NEMA) which, he said, were already doing a lot to cater for the IDPs and restore some basic infrastructure in communities affected by terrorism and insurgency.

Mr. Miliband assured President Buhari that the IRC will intensify its ongoing work in Nigeria which has assisted over 350,000 displaced persons, mainly in Adamawa and Borno states.

He called for an increased security presence in recovered towns and territories, saying that most prospective returnees still feared for their safety on their return home. [myad]

Court Sends Dokpesi Behind Bars Over Alleged N2.1 Arms Deal Fraud

The Chairman of Daar Communications, Chief Raymond Dokpesi
The Chairman of Daar Communications, Chief Raymond Dokpesi

A Federal High Court in Abuja has ordered the remand in prison, of the chairman emeritus of Darr Communications Plc, Chief Raymond Dokpesi, over alleged N2.1 Billion arms deal fraud and money laundering. He is to remain in the custody of the Economic and Financial Crimes Commission.
Justice Gabriel Kolawole who gave the order at the opening of the trial of Dokpesi today, asked EFCC to retain him in their custody pending the hearing of his bail application on December 10 by noon.

Dokpesi had pleaded not guilty to the charges. He was arraigned on a six-count-charge of contract fraud and money laundering amounting to N2.1 billion. He was charged along with his company, Daar Holding and Investment Limited.
In the charges read in the court, the defendants were alleged to have fraudulently obtained N2.1 billion through a purported media contract for the purpose of 2015 presidential campaign.
The defendants were alleged to have received the money through the bank account of the office of a former National Security Adviser (NSA), retired Colonel Sambo Dasuki, with First Bank of Nigeria Plc.
After taking his plea, Dokpesi’s lawyer, Chief Mike Ozekhome (SAN), told the court that he had filed an application seeking to admit his client to bail.
“My lord, we got the charge yesterday. We filed bail application this morning and we are ready to argue our bail application.”
Prosecution lawyer, Rotimi Jacobs (SAN), however, told the court that he was yet to file a reply to the bail application and would need a short adjournment to do so.
After listening to arguments of the two lawyers, Justice Kolawole adjourned the case for hearing of the bail application.
He also fixed February 17 and 18 as well as March 2 and 3, 2016 for hearing in the substantive trial.
Kolawole warned journalists covering the case to be mindful of what they write and be objective in their reporting.
He said this had become necessary because of the vantage position of the defendant in the media.
The judge warned that any journalist that reports anything outside what happened in court or publishes his or her opinion regarding the court proceedings will face the wrath of the law. [myad]

International Boxing Federation Strips Tyson Of Heavyweight Title

TysonThe International Boxing Federation has stripped Tyson Fury of the world heavyweight champion’s belt because he failed to set up a bout with mandatory challenger, Vyacheslav Glazkov.
The 27-year-old’s next fight will instead be a rematch against the Ukrainian veteran.
Fury held the IBF title for less than two weeks following his point’s victory over Klitschko in Dusseldorf, but retains the WBA, WBO and IBO straps.
The heavyweight division that Klitschko dominated for nine years has become fractured, with American scrapper Deontay Wilder holding the WBC belt.
Glazkov will now fight Chris Martin for the vacant IBF title.
The governing body’s ruling could pave the way for a title shot for Anthony Joshua, who faces amateur rival Dillian Whyte this Saturday, within the next 12 months.
Fury has been embroiled in scandal outside of the ring and is currently under investigation by Greater Manchester Police over hate crime allegations.
More than 40,000 people have signed a petition to remove the fighter from the BBC’s Sports Personality of the Year Award shortlist. [myad]

Buhari Prays For General TY Danjuma As He Clocks 78

General TY-Danjuma
General TY-Danjuma

President Muhammadu Buhari has prayed for an elder statesman, Lt. Gen. Theophilus Yakubu Danjuma (rtd) as he clocked 78 today.

In a statement by special adviser to Buhari on media and publicity, Femi Adesina, the President described General Danjuma as a renowned philanthropist who he said serves as the Chairman of the Presidential Initiative for the Rehabilitation of Internally Displaced Persons in the North East.

“President Buhari believes that the exemplary dedication of the elder statesman to giving back to the society and making life better for the less privileged is worthy of emulation by all.

“The President prays that Almighty God will grant the elder statesman many more years of good health and fulfillment in the service of the nation.” [myad]

Fuel Subsidy In A Collapsing Economy? By Moses Okpogode

Moses Okpogode 2To borrow from Senator Ben Murray-Bruce’s tweet last night, he wrote: ‘As I tweet, one Dollar sells for over ₦250. The economy is no respecter of All Progressive Congress party or People’s Democratic Party, we need to put aside differences and face this economy.’

But this would seem his personal business and opinion because Nigerians are yet to wake up from the political divide created in the wake of epic victory that not just upstage the PDP but also President Goodluck Jonathan. The most traumatized, ridiculed, demonized, judged, but yet to be crucified president and  now also labeled the most inexperienced to have ruled this country.

On the train to Aso Rock, professionals, especially the media and its practitioners, were torn against each other in a coliseum of gladiators built, developed and controlled by them. They pitched tents and picked holes in the policies of the Jonathan administration, convincing the electorates that there is no hope but on the hurricane that is bringing change to Nigeria. What they didn’t picture in all their analysis and conclusions was the structures that make up government, governance and the defect that exists in the Nigerian federation.

Of note is the policy on subsidies on refined petroleum  products, most of which is imported.  The previous administration received a lot of bashings and was castigated but still, the new government of President Muhammadu Buhari has persisted with the same fuel subsidies despite dwindling resources due to the about 60 percent fall in the price of oil in the past year and the accompanying strain on public finance.

The most ridiculous of these issue is the over 413 billion naira paid by this administration in six months in dressing up the leprous drenches of subsidies quietly as it watches the countenance of Nigerians on the way to go so as not to incur their wrath, having rode with the APC into Aso Rock through both promises to, sympathies and hopes from the people in reducing the hardship brought about by the umbrella party who ruled the country for 16 years.

This I feel is atrocious as it beclouds the fate of the nation’s economy that is pitched in incalculable social infrastructural  deficits and economic deficiencies. Media houses have long sunk into their shells and the great ‘Lugulas’ who held sway on social media and the civil societies are now mouths without tongues because they mortgaged their morals to emotions. Now that their morality is required to save the masses their faces are wrinkled in shame. Still reeling in revulsion over the roles they played at the time they should  have supported the removal of subsidy but didn’t and  instead insisted on a subsidy must stay campaign. Posterity didn’t wait long to judge us for our conscious or unconscious recruitment into the political battle that began in 2012 at the Ojota shrine where the ‘Occupy Nigeria’ dance silenced subsidy, emanating with the support of yesterday’s oppositions but today’s ruling party.

In all, the Lagos controlled mainstream media is the most culpable and has suffered serious knocks from which it is yet to awaken in the aftermath of the charade that has unfortunately glued its feet to the ground like the man suffering elephantiasis; weighing the options of standing on the fence or disagreeing on the subsidy subject.

Should we then continue on this path of continued subsidies that is draining our commonwealth in the face of dwindling resources because we are turned or tilted to angles of argument on the way forward for the country? Capital No! Elections have long been won and lost. There is a president, those who are being prosecuted over one allegation or the other are facing the music alas the economy must not be allowed to collapsed as it does not have a boundary line for the two major political parties and their supporters. A crumbling economy has the signature of every Nigerian on it, a  reason no Nigerian citizen here or in diaspora has the right to remain aloof while the naira turns to paper money or even pretend that the country will remain a force to be reckon with in the comity of nations or pride as important within the West African subregion.

We must put a stop to the divestments that is ongoing over fear of the unknown by major investors in the country. We can’t pretend that Aliko Dangote is finding ease at investing in Zambia, Cameroun and other African nations against his own Nigeria over higher returns, dividends or the fun of it but for the lack of policy direction on the economy that has set in. It is a bad signal for everyone including  foreign investors that are willing to berth in our ports, unto our lands. Even the World Bank,  though often misunderstood by lay men like us, is begging Nigeria to remove subsidy especially in the absence of refineries that won’t be turned around just tomorrow.

Before my birth the Chinese have started hanging their corrupt officials and are yet to stop doing so but corruption still thrives in China at any loop created to sustain such inordinate practices. All that Nigerians need is an increasing supply of the human essentials against demand and the reductions of restrains in obtaining services to ease the burden of pains from arrows struck at government and its officials who are today’s magicians to the masses.

A reason I am in support of the removal of fuel subsidy so that the same books President Buhari once revealed can be easily manipulated by Nigerians should no longer be the case as he has also started paying subsidy claims. A call on the president to also act in the full insignia of his office and cabinet, telling Nigerians on where he stands at the time of its trials including that of fuel subsidy or its removal and not the fever with which National Planning and  Budget Minister Udoma Udo Udoma and his colleagues announced to journalists last Monday that the Federal Executive Council is still considering its position on the matter amidst uncertainties in the operation of petroleum marketers and biting fuel shortages.

I also call on everyone saddled with responsibilities of making things right in the country to take their duties seriously to ensure we do not retrogress but surpass our previous attainments as a nation. Not even a room at remaining stagnant on pretenses of an overwhelming cesspool of corruption  despite foreseen impressions and indications before the ruling party’s ascension to power will be accepted.

Moses Okpogode Resides in Abuja and can be reached on @MOkpogode.  [myad]

World Bank To Buhari: Scrap Fuel Subsidy Now

John LitwackThe World Bank has advised President Muhammadu Buhari to scrap fuel subsidy now before it is too late.

Speaking at the launch of the latest edition of Nigeria Economic Report, the World Bank Lead Economist, Mr. John Litwack said that the best time to act is be now that global crude oil price is at its lowest level.

The World Bank chief, who presented the economic outlook of the global economy and the crude oil market, said that the Bank foresaw continuous decline in global crude oil price.

He admitted that scrapping of the subsidy would not push retail pump price beyond an average of N100 per litre, or generate the kind of pressure that would negatively impact on the people beyond what they are currently facing.

“The fuel subsidy appears to have vast modest benefits for the majority of citizens, but the costs are quite high. There is a strong tendency for the cost of the fuel subsidy to increase over time as increasing domestic demand for petrol outpaces growth in oil output or revenues.

“The $35 billion cost of the fuel subsidy during 2010 – 2014 was one of the reasons why Nigeria was unable to accumulate a fiscal reserve n the Excess Crude Account that could have protected the country from the recent oil price shock.”

Litwack stressed that fuel subsidy obligations are expected to reach 18 per cent of all government oil revenues in 2015, adding that if the current regulated price regime of N87 per litre is maintained, subsidy would be projected to increase to more than 30 per cent by 2018. [myad]

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