President Tinubu’s N500 Billion Fuel Subsidy Palliative: A Critical Analysis
Introduction
On July 13, the House of Representatives granted approval to President Bola Tinubu’s request for N500 billion for fuel subsidy palliative. This act alone was met with staunch criticism from social and policy commentators, politicians, and other actors in Nigeria’s stakeholder community. The outcry led to the President calling for a review of the palliative, with the organized labor saying it falls short of the level of intervention required to ease the pains of vulnerable Nigerians since the removal of fuel subsidy.
The Sustainable Development Goals (SDGs)
The Sustainable Development Goals (SDGs) are a set of global goals adopted by the United Nations in 2015 to address various social, economic, and environmental challenges. These goals aim to eradicate poverty, promote sustainable development, and ensure the well-being of all individuals. It is important to analyze President Tinubu’s fuel subsidy palliative in the context of these SDGs.
The N8,000 Palliative
It is general knowledge that the N8,000 palliative was a spillover from former President Buhari’s conditional cash transfer. The then Government under the conditional cash transfer window of the program proposed a transfer of N5,000 per month to 10.2 million poor and low-income households for a period of six months, with a multiplier effect on about 60 million individuals. Tinubu, in his “magnanimity,” added N3,000 to the amount and increased the number of recipients to 12 million.
Lack of Preparedness and Welfare Concerns
One need not be a soothsayer to see that this administration doesn’t seem adequately prepared for work because the use of the infamous “trial by error policy” will not help the economy stagger off where it is now anytime soon. We saw the same lack of preparedness when Tinubu happily removed fuel subsidy without any concrete plan as we gnashed our teeth in more suffering. Perhaps what is more unsurprising is how little thought a supposedly responsible government has concerning the welfare of its people. It has been calculated that N8000 for a family of five in a month would amount to about N54 per person per day, an amount that cannot feed a dog much less humans.
Incompetence of the House of Representatives
The House of Representatives is made up of 360 members, and none of them saw it fit to question the policy before approving N8,000 monthly palliative to 12 million low-income households for the period of six months. That particular palliative ought to have been debated on the floor and a review called for it before Tinubu suspended it. I haven’t the foggiest idea what goes on in the minds of our elected representatives, what matters to them, and how exactly they advocate for the well-being of Nigerians.
The Multidimensional Poverty Index Survey
At this juncture, it is important to highlight the findings of the Multidimensional Poverty Index survey in 2022. The survey revealed that 63% of Nigerians, approximately 133 million people, are multidimensionally poor. This alarming statistic underscores the urgent need for comprehensive and effective interventions to address poverty and improve the well-being of Nigerians.
The Need for Sustainable Solutions
Evidently, Nigeria is languishing in poverty and severe suffering. This is a stark contrast to the nation’s potential to be bountiful and rival even western countries. The N8,000 palliative falls far short of addressing the root problems and challenges faced by Nigerians. To truly alleviate the suffering of Nigerians and achieve the SDGs, it is crucial to develop and implement sustainable solutions that are data-driven, transparent, and properly structured.
Promises and Policies
President Tinubu has made promises and outlined various policies to address the challenges faced by Nigerians. However, it is important to emphasize that promises and policies are useless without proper structure and intensity of enforcement. Each step of implementation must be documented, and the public must be carried along to ensure transparency and accountability.
The Role of Power Supply
One important pillar that President Tinubu must prioritize is addressing the issue of power supply. Access to reliable and affordable electricity is crucial for economic growth and development. By providing Nigerians with more than 14 hours of power each day, the economic effect will be significant, leading to increased revenue and the growth of businesses across all sectors.
Food Insecurity
Food insecurity is another pressing issue in Nigeria. The prices of food have skyrocketed, and many farmers have lost their crops due to various challenges such as floods, insecurity, and displacements. It is imperative to address this issue by implementing strategies that ensure food security, support farmers, and provide adequate nutrition for all Nigerians.
Conclusion
In conclusion, President Tinubu’s fuel subsidy palliative must be critically analyzed in the context of the Sustainable Development Goals (SDGs). It is essential to develop and implement sustainable solutions that address the root problems faced by Nigerians and promote their well-being. Transparency, accountability, and data-driven policies are crucial for achieving the SDGs and improving the lives of Nigerians.
SDGs, Targets, and Indicators Analysis
1. Which SDGs are addressed or connected to the issues highlighted in the article?
- SDG 1: No Poverty
- SDG 2: Zero Hunger
- SDG 7: Affordable and Clean Energy
- SDG 8: Decent Work and Economic Growth
2. What specific targets under those SDGs can be identified based on the article’s content?
- Target 1.2: By 2030, reduce at least by half the proportion of men, women, and children of all ages living in poverty in all its dimensions according to national definitions.
- Target 2.1: By 2030, end hunger and ensure access by all people, in particular the poor and people in vulnerable situations, including infants, to safe, nutritious, and sufficient food all year round.
- Target 7.1: By 2030, ensure universal access to affordable, reliable, and modern energy services.
- Target 8.5: By 2030, achieve full and productive employment and decent work for all women and men, including for young people and persons with disabilities, and equal pay for work of equal value.
3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?
- Indicator 1.2.1: Proportion of population living below the national poverty line, by sex and age.
- Indicator 2.1.1: Prevalence of undernourishment.
- Indicator 7.1.1: Proportion of population with access to electricity.
- Indicator 8.5.1: Average hourly earnings of female and male employees, by occupation, age group, and persons with disabilities.
SDGs, Targets, and Indicators Table
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 1: No Poverty | Target 1.2: By 2030, reduce at least by half the proportion of men, women, and children of all ages living in poverty in all its dimensions according to national definitions. | Indicator 1.2.1: Proportion of population living below the national poverty line, by sex and age. |
| SDG 2: Zero Hunger | Target 2.1: By 2030, end hunger and ensure access by all people, in particular the poor and people in vulnerable situations, including infants, to safe, nutritious, and sufficient food all year round. | Indicator 2.1.1: Prevalence of undernourishment. |
| SDG 7: Affordable and Clean Energy | Target 7.1: By 2030, ensure universal access to affordable, reliable, and modern energy services. | Indicator 7.1.1: Proportion of population with access to electricity. |
| SDG 8: Decent Work and Economic Growth | Target 8.5: By 2030, achieve full and productive employment and decent work for all women and men, including for young people and persons with disabilities, and equal pay for work of equal value. | Indicator 8.5.1: Average hourly earnings of female and male employees, by occupation, age group, and persons with disabilities. |
Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.
Source: opinionnigeria.com
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