Subsidy Removal: Extend palliatives to all industries, NACCIMA appeals to FG

The Nigerian Association of Chambers of Commerce Industry, Mines and Agriculture (NACCIMA) has appealed to the Federal Government to extend palliatives to all productive industries to cushion the effects of the removal of fuel subsidy. Its National President, Otunba Dele Oye, made the appeal at the 3rd Quarterly Council meeting of the association in Abuja. The Federal Government had announced N5 billion palliative for each state of the federation, including the Federal Capital Territory to ameliorate the rise cost of living arising from the removal of the petrol subsidy. Oye said that the removal of petrol subsidy was not only affecting consumers but also the productive industries. According to him, the removal of the petrol subsidy and the floating of the Naira currency have in one way or the other affected industries. “These affected both consumers and industries because every new policy has its own casualties. “So, in the long term, it is good for the country, but in the short term, you have to consider people who are wrongly affected so that the prices do not cause unusual inflation. “It is important that the government ensures that the palliatives also go to the industries,’’ Oye said. He added that it would take time for businesses to adjust to the new policy of Naira floating. “The short term is always a bit difficult for a lot of people, because it takes time to adjust for businesses to get to know the new policy and also to work with it.” NACCIMA boss said that providing loans at a single digit rate could provide certain cushioning effects to industries affected in the short term. “This is because it is from us we generate the money from the tax to sustain the economy. “So, government must focus and find a way to make sure that the palliative goes to every sector,’’ he said. In his remarks, Dr Al-Mujtaba Abubakar, President, Abuja Chamber of Commerce and Industry (ACCI) said that the business community also needed incentives to cushion the effects of the fuel subsidy removal and the depreciation of the Naira. Abubakar, who was represented by the Director-General of ACCI, Victoria Akai, also emphasised the need for stable power supply and harmonisation of tax to enable businesses thrive. According to him, the business community is in dire need of incentives that will cushion the effect of the fuel subsidy removal and the depreciation of the Naira. He urged NACCIMA president to liaise with relevant government agencies to press home the association’s demands such as stable power supply and harmonisation of tax among others. “I will like to commend the determination of the NACCIMA President to further deepen the relationship of NACCIMA and policymakers which I believe will go a long way to bring the much-needed relief to the business community,’’ Abubakar said.

N5bn Palliative: Physically challenged persons demand 5% approved for states, LGs

The National Association of Persons with Physical Disabilities (NAPWPD) has demanded a five per cent share of the N5 billion palliative approved by the Federal Government for states and local government councils.  The Federal Government has approved the disbursement of N5 billion to states, local government councils and the Federal Capital Territory as palliative. In a reaction, the National President of NAPWPD, Mr Rilwan Mohammed, in a statement in Kaduna at the weekend, appealed that five per cent of the fund should be allocated to Persons with Disabilities (PWDs) across the states. Mohammed explained that the demand was in tandem with the provisions of the Discrimination Against Persons with Disabilities (PWDs) Prohibition Act. He added that Section 25 of the Disability Law also provided that in situations of risk or humanitarian emergencies, PWDs should be accorded preference and protection. He also expressed displeasure that the PWDs were not carried along in the decision to support the states and the local government councils with the funds.    “The disability law provides for a sharing formula to accommodate PWDs, who are usually excluded when they are lumped with other people during allocation of relief support. “It is to address this problem that we are asking for five per cent to be allocated to PWDs in line with the provision of the law,” he said. The president stressed the need for a clear template or clarity on how marginalised groups like the PWDs would be accommodated in the utilization of the N5 billion palliative. He noted that the association has been extremely disturbed and sorely worried over the suffering of its members due to the fuel subsidy removal by President Bola Tinubu-led administration. “The impact of the removal has continued to have a debilitating impact on PWDs who are largely poor and vulnerable. “The inability of PWDs to afford decent food, healthcare and necessities of life have been compounded and made worse with the recent situation in the country. “Our members now find it difficult to access public transport as the transport system is largely inaccessible and unaffordable to members of the disability community,” he said. He lamented the rapid multiplier effect of the subsidy removal on the price of goods and services, adding that the development was making life unbearable for the poor, particularly PWDs. Mohammed implored the federal, state, and local governments to tackle the challenges of public transportation and consider the peculiarities of PWDs. He said that for the public transport system to be accessible to PWDs, buses and other means of transportation should be fitted with adjustable ramps and handrails for wheelchair users. “The vehicles should also be fitted with signage and electronic display for directions with audio announcements for the benefit of the deaf and the blind. “All these are provided for in the disability law. “Our demands, therefore, are not based on charity requests but consistent with legal provisions,” he said. Governor Babagana Zulum of Borno announced the approval of the funds at the end of the National Economic Council meeting on Aug. 17 in Abuja. Zulum had explained that the measure was to cushion the effects of the subsidy removal on petrol. He, however, explained that the fund was on the basis of 52 per cent grants and 48 per cent as loans to be repaid to the Central Bank of Nigeria (CBN) within 20 months by the states and local councils. 

FG’s N5bn Palliative: HEDA wants transparent implementation, monitoring

In response to the recent announcement by the Federal Government to provide N5 billion as financial support to the 36 states, aimed at mitigating the impact of the removal of petrol subsidy, HEDA Resource Centre, has stressed the importance of transparent implementation frameworks and robust strategies to ensure accountability and effective utilization of these funds. The decision to remove petrol subsidy has brought attention to the need for comprehensive and well-defined plans to channel resources for the betterment of the citizenry. HEDA firmly believes that a clear road-map outlining how these funds will be disbursed and monitored is essential to prevent any misuse or mismanagement, diversion or corruption as experienced with previous similar measures like SURE-P amongst others. In light of this, HEDA’s Chairman, Olanrewaju Suraju urged all State governments to put forth detailed implementation strategies that demonstrate their commitment to the responsible allocation of resources. Furthermore, the NGO challenged President Bola Tinubu to take a proactive step towards ensuring the effectiveness and transparency of the financial support initiative from the administrators of the fund. “Transparent budgeting and regular updates on the utilization of the funds will foster public trust but also provide a mechanism for citizens to actively participate in overseeing the progress of projects aimed at easing the impact of the subsidy removal.” “We propose the involvement of institutions like the Economic and Financial Crimes Commission (EFCC), the Nigerian Financial Intelligence Unit (NFIU), and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to serve as a monitoring and evaluation team for the execution of these projects.” And further charge all stakeholders, community associations, professional groups, religious institutions and artisan/labour unions to actively engage the process and demand transparent and accountable administration of the funds. “This approach will undoubtedly enhance accountability, curb corruption, and enhance the overall impact of the support initiative. We call upon all stakeholders, including government agencies, civil society organizations, and the general public, to collectively ensure that the allocated funds are utilized judiciously and in alignment with the intended goals.