May 18, 2024

The Subsidy Regime: An Abused System in Nigeria

The concept of subsidy is generally to provide succour to the citizens in those areas that an ordinary citizen finds it hard to enjoy the benefit of good governance. Thus, the primary objective of subsidy is succinctly captured under section 14(2)(b) of the 1999 CFRN which clearly enjoins the State as its primary duty, the provision of welfare and security for the citizens. These twin benefits cannot be achieved in the absence of subsidy applications.

I believe most Nigerians do not have much knowledge about subsidy except when this unfortunate subsidy on petroleum product was removed by this new government. Otherwise, Nigerian government provides subsidy in such areas as:

i-In petroleum products.

ii-In electricity.

iii-In agricultural equipments.

iv-In water and sanitation.

v-In tax reliefs.

However, none of these subsidies are felt by Nigerians well.As hardly can it be said that,an ordinary Nigeria can proudly claim that he/she enjoys better life as a result of availability of these subsidies.

It is therefore imperative for the Nigerian government to holistically find out what will indeed lead to good result from the subsidy regime in Nigeria. My thoughts are as follows:

i-Unchecked corruption in almost every facet of Nigerians’ conduct.

ii-Lack of show of patriotism by most Nigerians.

iii-The failure of the government to sanction those who abuse subsidy aystem.

Until the Nigerian government tackles these three monsters holistically, subsidy removal will be a ruse and Nigerians should not expect any benefit but unending sufferings.

May we be guided.
Lakpene Yusuf Bida,Esq
26–2–2024.

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