A federal lawmaker has identified policy paths that can be taken by the government to cushion the effects of the new petrol price of N145.
Ahmed Kaita, an All Progressives Congress member of the House of Representatives, said on Sunday that he supported the new price regime as “compelled by the prevailing realities”; but Government should intervene to reduce the effects on the masses.
In an interview with newsmen, he identified the three paths of intervention as spending on infrastructure, food pricing, and direct social interventions.
“But there are no quick fixes,” said the lawmaker who represents Kankia/Ingawa/Kusada constituency of Katsina State.
“100 percent I support the new price regime.
“If we really want a sustainable economy in line with the change agenda of ending corruption, enriching few and waste to give more money to human and capital development, we must brace up and do what is right.
“As it is compelled by our current realities resulting from forex shortage due to oil market crisis, what is right is allowing some degree market freedom, removing subsidy and capping the price to allow investors make gains without exploiting the people,” Mr. Kaita said.
He continued, “It will hurt and we must live under no illusion that there will be quick fixes.
CUSHIONING EFFECTS
The money freed up from subsidy removal should be invested massively in infrastructure, Mr. Kaita said.
“That’s already in the budget signed by the President. Release funds with focus on infrastructures like road, rail system and power should be immediate so as to relief citizens and ameliorate conditions of the poor.”
“Second,” the lawmaker said, “is food pricing. Prices of food items are going up and some items like tomato are scarce, making things hard. Government has reserves from which we must release to the market. This was done on tomato there weeks ago. Federal Government should collaborate with states so that taxes on food and agricultural products can be reviewed to bring prices down. That’s directly helping people avoid difficulty.”
He added that Federal Government should also “immediately”
execute N500 billion social intervention programmes approved in the 2016 budget.
“This contains jobs, social safety allowance for the most vulnerable people, free schooling for science students, soft loan to traders. Like the Budget and Planning Minister, Udo Udoma said spending on infrastructure would begin immediately.
“We must also release funds for execution of this first social intervention immediately to support the citizens and cushion effects of the price regime of petrol,” he said.
Mr. Kaita expressed opposition to the planned strike by Nigerian Labour Congress set to commence on Wednesday.
“Where were they when the economy was being messed up for sixteen years?”
He disclosed that “about 68” APC lawmakers had been meeting since Saturday to ensure National Assembly support the new price regime despite “suspicion of opposition by the speaker (Yakubu Dogara) who may want to toe the PDP line which is his main support base in terms of his position.”
While addressing the National Council of Ulamas of the Jamatu Izalatil Bid’ah Wa Iqamatis Sunnah last week, Mr. Dogara had said he would not give opinion on the new petrol price until the matter was brought to House. He, however, assured the government would not deliberately inflict hardship on people.
But Mr. Kaita said the Speaker should have defended the policy “since he is a leader of the ruling party in the House to show his loyalty to the party and Government.” Click to signup for FREE news updates, latest information and hottest gists everyday
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