For obvious reasons the talking point in the Nigerian polity as President Muhammadu Buhari marks his first year in office is government’s decision to scrap the contentious Petroleum Support Fund, otherwise known as fuel subsidy, a development culminating in marketers being directed to sell premium motor spirit, PMS, also known as petrol, between N135 and N145 per litre. Not surprisingly the hike in the pump price of petrol elicited mixed reactions, with those against it raising a deafening din of condemnation and demanding that government should immediately revert to status quo: that is, continue to sell the product at N86.50 a litre.

This opposition to the hike had culminated in a short-lived nation-wide workers strike called by a faction of the now fractured Nigeria Labour Congress, NLC. But while justifying the subsidy removal and the attendant hike in petrol price, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, said failure to do so at this point in time would entail that the Federal Government would continue to cough up N16.4 billion every month to offset the subsidy claims of oil marketers on petrol. He further explained that the imperative of government’s action derived from the realisation that it was incurring about N13.7 as subsidy on each litre of petrol bought by Nigerians.

While the storm engendered by the issue has since subsided, Nigerians have continued to debate the matter at different formal and informal fora, with opinions sharply divided on whether or not subsidy removal is in the best interest of the country. But it would appear that Nigerians are gradually adjusting to the reality of the subsidy removal, especially against the backdrop of the scarcity of the product prior to the hike in price and its present availability at various filling stations across the country.

Also on the front burner of discussions is the present state of the economy which some commentators said had slid into recession due to inflationary pressures. Indeed complaints have been coming thick and fast that the cost of living is soaring beyond the reach of the average Nigerian. There have also been other sundry complaints, including lingering epileptic power supply.

But Mr Femi Adesina, Special Adviser on Media and Publicity to President Buhari, has said that the problems that gave rise to these complaints pre-dated the current administration which in his informed estimation has done more than enough in one year to justify the confidence reposed on it by Nigerians through their votes at the last general elections in the country. He said that under the pang of the present inconvenience, Nigerians should not be in a hurry to forget where the country was coming from, especially the uncertainty that characterised the immediate past which necessitated a nation-wide chorus for change. According to him, the Buhari administration is still engaged in the painstaking process of cleansing the Aegean stable that it inherited and that performance-wise, it has made giant strides in the areas of national security, fight against corruption, management of the economy, governance, among others.

He said the President appreciates the difficulties being experienced by Nigerians currently and appealed for understanding as government continues to battle the enormous challenges confronting the nation and its survival. According to him, any objective assessment of the administration will not fail to appreciate the gravity of the problems it inherited and the commendable efforts it has made in addressing them within the limit of time and resources at its disposal.

With regards to the economy, Adesina said in order to arrest the financial drift and indiscipline that characterised previous administrations, government decided to take far-reaching steps to instil fiscal discipline by way of implement the Treasury Single Account, TSA, which entailed the closure of all multiple accounts in Ministries, Departments and Agencies of government, thereby plugging loopholes for leakages with new technology. In the event, the Nigerian National Petroleum Corporation, NNPC, which hitherto was seen as an enclave of corruption, had more than 40 of its accounts closed, paving way for its questionable accounting structure to be reconstructed for more transparency, creating more room for competition, predictable revenue generation and compliance with global best practice of operations.

This intervention through the TSA, he informed, “provided greater visibility of government revenues and cash flows”, adding that: “Between June 2015 and April 2016, the Federal Government TSA collection clocked N3trillion.”

Also worthy of mention, according to Adesina, is the resuscitation of the grounded Port Harcourt and Warri refineries which are back in operation with 60 per cent capacity and producing seven million litres of PMS daily, adding that the Kaduna refinery also resumed production at the end of the April, 2016.

Read more at: http://www.vanguardngr.com/2016/05/one-year-buhari-done-enough-inspire-hope-adesina/

Nearing the week of APC's government of confusion anniversary, the lies are gonna reach fever pitch in the next few days.

epistle according to sir sina

These idiats got nada to celebrate just about one year in office. One bag of rice is 22k currently. What more can they tell discerning Nigerians? From one lie to anoda yet everyday reality knock out their lies. Its pathetic to say the least

Booairi has dwindle the economic stability of Nigeria. booairi governace is falling from grace to grass

PMB has done enough to inspire hope by doing the following:

* Growing our GDP negatively by - 0.3%

* Inflation at 13%

* Over 1.5million loosing their jobs in the first quarter of 2016

* Fuel scarcity

* Fulani herdsmen sorry meant "libyans" killing nigerians like chicken

* Junketeering around the world

* Nigerian budget be signed in May

* Taking 6 months to appoint ministers, after contesting for election 4 times

* Generating 0MW

* No economic direction/policy whatsoever

* Blaming everyone and anyone "blameable"

* Offering nigerians youth masquerade jobs while their own wards are given juicy position in CBN



With all this we can see that PMB has done enough to inspire hopelessness hope

Kai Mr Shina, are u high on cheap drugs or what? Petrol from #87 to #145, dollar from #180 to #361, tomatoes from #1200 to #30000 and many more and u said your oga is making life easier? Thunder will fire u