A former member of the Board of Trustees (BoT) of the Peoples Democratic Party (PDP) and now a chieftain of the All Progressives Congress (APC), Hon Charles Idahosa, has said that the inability of Governor Godwin Obaseki to manage people and his “high level” of ingratitude cost the PDP the September 21 governorship election in Edo State.

Speaking to Sunday Vanguard in Benin, Idahosa also dispelled the allegation that the election was rigged just as he alleged that a section of the media was for Obaseki and did not see anything wrong in his style of administration.

According to him, “It is rather unfortunate about the feelings of the PDP on the election not being free and fair. As far as I am concerned, the election was very free and very fair.

“I gave an interview days before the election and I did say that Godwin Obaseki was getting frustrated and threatening here and there and I made it quite clear that it has dawned on him that this is the first time he is going for an election on his own.

“In the first election, we were with him and when he fell out with the APC and crossed to the PDP, a chunk of members of the APC went with him and when he got to the PDP, he did exactly what he was good at doing; he abandoned every person and started messing up again in the new party which is the PDP to the extent that the party was broken into two which became the Legacy PDP and the New PDP.”

On the decision to challenge the outcome of the election in court, Idahosa said “What is happening now is that they are just looking for reasons but I want to remind them that going to court is part of the electoral process. Obaseki was taken to court twice; when he won the election in 2016, the case got to the Supreme Court. When he won again in 2020, the case got to the Supreme Court so there is nothing wrong with going to the court. I feel sorry for the person who got the collateral damage. “

He said the signs were there that the PDP was not going to win the election. “Here was a man that deprived 14 elected lawmakers of being sworn in, we are talking of 14 constituencies out of 24 and you think their constituents and their relations and their friends will clap for you.

“Here is a man, NJC (National Judicial Commission) cleared eight judges and you sat down in your office and cancelled three. All the leaders that worked for him, he drove them away.

“PDP leaders came to Benin for a rally, he knows the tradition but instead of taking them to visit the Oba of Benin, he took them to a private residence whereas when the Vice President came with the APC candidate, he visited the Oba of Benin and this was few days to the election. “

How did he expect to win the election with all these controversies surrounding him? There was nobody that he did not deal with.”

•Paid twice, yet no document – Victim
•My admission hanging — NCE holder •Job opportunities lost
•What institutions charge: UNILAG — N25, 000, OOU – N25, 000, OAU —N37, 000
•Some graduates give wrong addresses — Schools

Sometime in June 2023, a message was sent to a top editor in a top Nigerian daily newspaper by the daughter of a late renowned columnist. It read, “I believe you will know someone in LASU, I need my transcript urgently or I will lose a job. I paid since 7th May and have heard nothing.”

The sender of the message, Olusola, (surname withheld), graduated from the Lagos State University, LASU, in 1988 with a B.ED Islamic Studies, degree and later relocated to the United Kingdom, UK.

She had to make an urgent plea to the said editor, where her father was a columnist, as she needed to send her academic transcript to the portal of a recruitment agency in the UK, where she hoped to set her career on another path.

She ended up paying twice and the Editor and his team had to pile some pressure on the university over the matter.

Olusola was lucky because LASU has digitised such processes, if not, her year of graduation, 1988, would have meant having to manually search for her document and it might have been lost.

While many young Nigerians are moving in droves to live, work or study abroad, the dreams of some doing so are being truncated because of their inability to get their academic transcripts forwarded to their new schools or employers by their former Nigerian schools.

Checks by Vanguard showed that many of the nation’s tertiary institutions are many years behind in discharging this simple, but important function.

A transcript is a certified record (inventory) of a student throughout study having full enrollment history including all courses (or subjects) attempted, grades earned and degrees and awards conferred.

The creation of the Electronic Transcripts and Documents Exchange in Nigeria (ETX-NG) in 2013 by ETX Solutions Nigeria Limited in partnership with universities for smooth transfer of transcripts to institutions and organisations that require them, has not helped the situation.

Transcripts are required for scholarships, fellowships, promotions in workplaces, appointments, and admissions purposes among others.

Costs

The cost varies from one school to the other and it also depends on the location it is being sent to.
The average is between N25,000 and N70,000. For instance, the University of Lagos charges N25, 000, the Obafemi Awolowo University, Ile Ife, Osun State charges N37, 000 and the University of Ilorin, Kwara State charges N40, 000.

Once payment is made, the Exam and Records Department in the school is expected to begin work on the demand by fishing out the details, type and send to the required address. Some schools, like LASU and UNILAG have modalities for tracking the movement of the document on its way to the address it is sent.
However, findings by Vanguard show that if one relies on the staff involved doing the needful without being pushed, it may take a long time.

‘Unpalatable experiences’

A graduate of UNILAG, Abayomi Roleola, who has had to pay twice and has still not got his transcripts sent, lamented that he could miss what he needs the document for A 2012 graduate of Science and Technology Education, he forwarded the details of his transaction and interaction with the university to Vanguard newspaper and it goes thus: “Matriculation number 080322066. The year of Admission was 2008. The year of Graduation was 2012. Statement of Result issued on January 22, 2013.

Certificate – certified graduation date December 18, 2012. Class of certificate: Second class lower in BSc Ed Integrated Science. Name listed in the convocation pamphlet. Applied for 100-400 levels transcripts on June 1, 2023, with reference number RC 1255864 and paid the required N25,000. Applied again on January 3, 2024, with reference number RC 1556112 and paid another N25,000, making a total of N50, 000.

“The purpose of applying for the transcript was given as WES with reference number 6023927. It was for career advancement as a number of opportunities have been lost due to the delay in obtaining academic transcripts.”

When Roleola could not get any response from the university, he escalated the issue my mailing the Vice Chancellor, Prof. Folasade Ogunsola on November 30, 2023. He has not got any response.

His findings showed that his results were unavailable in the Exams and Records Office.

Most recent acknowledgement of his application on the university portal was on January 24, this year where it was stated that an officer would be assigned to attend to his request.
Nothing has been heard since then.

A lady, Mosun, who needs the document to support her Direct Entry admission to the university through the Joint Admissions and Matriculation Board, JAMB, may wait a little longer.

She graduated from the Federal College of Education, Osiele, Abeokuta, Ogun State and paid N17,000 for the document which is supposed to be sent to a university where she is seeking admission to continue her studies. She is not yet sure of what her fate would be.

JAMB early this year said some colleges and schools were fond of not sending academic documents of Direct Entry applicants to it on time for the applicants to be considered for admission.

‘I paid for every step of the process to get mine’

Grace, a journalist with a medical house in Lagos, recalled what she went through before getting her transcript from one of the state-owned universities in the Southwest.

“I paid for all the years I have left the school. Before I could get it, it was hell. You know our documents were in file form, and they had to search and search for weeks before they could get my file. Each step was paid for.

“Now that they are using computers it will be better for students. Every process is money. I also paid for a courier and envelope to send to the organization that requested it which I didn’t get a response from. So, whether they got it or not, I couldn’t trace it. I had to go back and request for a copy which I also paid for,” she said.

Admission opportunities, others lost

It has been a harrowing experience for Nigerians, especially, postgraduate candidates applying for transcripts of their academic records to enable them to secure admission in universities different from where they obtained their first degree.

While those who chose to further their studies where they got their first degrees maintained that it was a seamless process for them, others who opted for a change to other institutions lamented that they were almost frustrated by some officials who wanted them to play ball before doing what they were paid to do.

Narrating his experience to Vanguard, Mr. Tife Owolabi, a resident of Yenagoa, who is pursuing his PhD programme at the University of Port Harcourt, said: “Let me say it was lucky I had less difficulty in obtaining my transcript unlike many of my colleagues who had serious complaints. I obtained my Bachelor of Science and PGD from UNILAG.I then pursued my Master’s at UNIPORT, where I’m currently doing my PhD.

Surprisingly, I obtained my transcript from UNILAG and transferred it to UNIPORT without hassle, perhaps due to my luck or the help of connections within the system – which, admittedly, came at an extra cost. This is how things often work in Nigeria, where non-academic staff may expect something in return for doing their job.”

Also, Femi Folaranmi, a University of Port Harcourt, UNIPORT, master’s student spoke in the same vein saying, “Getting my transcript from University of Ilorin looked easy on paper, but in reality it was time-consuming. After filling out the necessary form online, payment was another tedious exercise. Aside from that, the phone numbers given by the university to call rang out with no one picking it. Eventually after making private calls to old schoolmates working in the university to help out, you still need to constantly call the courier guys to keep tracking the transcript until it gets to its destination.

“However, I learnt the school has instituted some reforms that make payment easy and accelerate the process of getting the transcript to the required institutions.”

But Tombra Eduke, a master’s graduate of the Bayelsa State-owned Niger Delta University, NDU, said he had no issue with his transcript since he applied to do his master’s degree at the same institution. He said: “People that usually have transcript issues are those that are applying to different institutions for their postgraduate programmes. I didn’t really have that issue of transcript procurement because I did both my BSc and MSc at the same institution.”

In Uyo, Udeme Utip had her first degree from the University of Cross Rivers (UNICROSS) and is currently pursuing a postgraduate degree at the University of Uyo (UNIUYO).

Udeme told Sunday Vanguard, “I hear people undergo difficulties procuring transcripts but I never had any issue with applying for mine to further my studies at UNIUYO.

“I had one last year. All I did was go to UNICROSS where I graduated and applied. I paid N15,000 in all charges and the Exams and Records Unit handled the rest, including courier.

“I don’t know about other schools, but I think obtaining a transcript should not be a problem if your exams and scores records are intact. I already had my degree certificate when I went for the transcript and there was no issue locating my file.”

Prince Emeka Efeizomor who recently procured a transcript for a US-based sister had a rather ugly experience saying, “This was at the University of Port Harcourt, Unique UNIPORT they call it. My sister graduated in English in 1986, and worked with the Nigerian security agency with her degree before leaving for the US. It was not the first transcript she would procure, so it wasn’t supposed to be difficult.

“I went with a copy of the applicant’s certificate obtained from the institution. You won’t believe it, the first official I met at Exams and Records asked me to pay N10,000 for Graduation Gown before he would start anything.

“I told him, Oga, the transcript has nothing to do with the graduation gown. We are talking about an alumnus who graduated nearly 40 years ago. Having her certificate means she has done due clearance and owes the school no fee. But I sacrificed the money just to make progress.

“A couple of days later, he hit me with a rude shock. The UNIPORT official said my sister’s certificate was a fake result, and that I could be arrested. Confident the result was genuine; I went to the Department of English in the Faculty of Humanities she graduated from.

“To cut a long story short, her file was intact. I came back to the Exams and Records where they confirmed she had procured the transcript on two occasions earlier. My sister applied for both hardcopy and electronic copies through WES to the US destination. And a student copy as well.

“We paid nearly N170,000 to get everything done. The WES copy was the most important and it took some delay, but eventually, it was received at the other end. I think there is a need for improvement in their record keeping to ease the process when people apply for a transcript.”

Also, Francis Dufugha, a PhD student of Rivers State University while narrating his experience said: “The issue of time duration in obtaining the transcript is always a challenge faced by many applicants. I had an experience where I applied for my transcript from Delta State University, Abraka where I did my master’s programme but before it got to UNIPORT where I applied for PhD, the selection period had elapsed and this cost me my admission. Also, when I applied for the Rivers State University where I am currently doing my PhD programme, so many people were denied admission for no fault of theirs because of transcript issues. What most students do now is pay the school after they finish typing the transcript they collect it by hand and go post it themselves to be sure it gets to the school in two days before the admission process elapses”

Former Chairman, Nigeria Union of Journalists, NUJ, Bayelsa State Council, Comrade Tariyon Akono, said: “Transcripts on application by ex-students are sent to the institutions of demand as it is usually not given to the ex-students. It takes months and follow-up to get it sent to the institution of demand. The system is manual and finding it takes days. Some people have lost admission opportunities because their previous institutions failed to send transcripts.”

My experience at ABU – Journalist

Muhammad Sabiu, a journalist, narrating what he went through getting his academic transcripts sent to another school for further studies, said, “When I went for my post-graduate studies at Bayero University Kano, I went to my alma mater, Ahmadu Bello University, Faculty of Arts, to receive my transcript.”

“On getting to the faculty office, the man in charge of the issuance was not on seat. And I was going from Zamfara State then to Zaria. However, I met a good Samaritan who was obliged to help. He collected my details and asked me to come the following week.

“The following week when I went there, I met the man in charge who told me that my transcript was ready but the university will send it to BUK. Later, I got to know they sent it which afforded me the opportunity to get admission to study PGD in Developmental Studies, Department of History in 2005.”

For Abdulganiyu Alabi, who recently applied for a transcript in ABU, Zaria, he said the process was seamless as after paying the prescribed fees, his academic transcript was sent to the appropriate department.

However, Ibrahim Mohammed lamented that on two occasions, the issuance of his academic transcript was delayed which almost affected his admission into a PhD programme.

“After paying for the transcript then, at the Senate Building and filling out the forms, I was asked to go and was assured that my transcript would be sent to the NDA. But to my surprise, I was told that the transcript was yet to be sent, weeks after. I am glad to know that things have improved in the university now,” he said.

Varied experiences from Kwara

Experiences of prospective postgraduate students, who applied for the document in various institutions in Kwara State are varied.

For instance, Alhaji Ali Muhammad Rabiu, a journalist and graduate of ABU, Zaria and Alhaji Lanre Alege, also a journalist and graduate of the University of Ilorin, have different experiences about the collection of their transcripts.

For Alege, a staff of TVC News, he said he was given his transcripts after convocation without any stress.

“We were just asked to apply to the postgraduate school for the transcript which we did, and immediately it was ready we were alerted. I think it was a space of two weeks then. There was no delay or what I can describe as a challenge in the collection of the transcript,” he said.

But for Rabiu, it was somehow a different experience. He said it took like three months for the transcript to arrive at the destination institution after payment.

“It is not supposed to be given directly by hand to the prospective students, but it is not supposed to take a longer period to the extent that admission would have closed before it arrives destination institution.

“Some weren’t that lucky, but in my own time, I was lucky the transcript arrived before admission closed,” he said.

He also pointed out that prospective postgraduate students, in a bid to beat the deadline and avoid the transcript from missing in transit through the post office, bribe staff in the Records Office.

OOU graduates lament

Two graduates of the Olabisi Onabanjo University, OOU, in Ago-Iwoye, Ogun State, have been trying to get their transcripts for between one and three years now.

The duo, who related their experiences, are piqued that the slow pace of processing the document could cost them serious damage in their careers. Cecilia, who lives in one of the South-West states, said she applied for the document in March 2021, while Joyce, who stays in the United States, did so in March last year. They paid the mandatory N50,000 processing fee along with their applications.

Cecilia has heard nothing from OOU more than three years after applying for her transcript, Joyce, who applied for hers at UNILAG and OOU in March last year, got the document from UNILAG alone.

”I graduated from OOU then Ogun State University in 1997 with a Second Class Lower in Guidance and Counselling. I did my Master’s degree at the same university and graduated in the year 2000. I applied for a transcript for the first degree in March 2021 and up till now, no transcript has been given.

“I visited the Registrar’s office and was directed to Exams and Records and was referred to my faculty. I discussed this with the dean who incidentally was my lecturer. He appealed to me that I should exercise patience that it would be sorted out soon. Since then, I have been using unofficial means and they kept telling me the university can’t find some of my results and it is not only me.

“About two months ago, someone called me to ask me if I could lay my hands on my 300 and 400-level courses or ask my friends that we finished together; I told the person I couldn’t. The person said he would get back but he never did. Some two weeks after, I called the number, but he didn’t pick up.”

‘What I think is responsible for my brother’s case’

Charles, who has been helping his brother to pursue getting his academic records from UNILAG believes the institution has a peculiar problem, especially with getting the document from the Faculty of Education.

“I believe that the UNILAG case is not just money money-making issue. The Faculty of Education is a case of negligence where students’ results were not archived. It’s a case of missing results which is the main constraint. I think the money issue is a general issue across the board. In my brother’s case, findings revealed that their entire class semester results were not archived. So, I guess UNILAG might need to do a ‘work back’ of the cumulative results to obtain the missing results.

“Recall that UNILAG has stated results and certificates since 2012. So, what now happened to those raw results that were used to populate the graduation list? This requires the VC/ Senate’s directive. Some of the affected graduates with political and litigation connections have resolved theirs through this means quietly. So, what about others?

“It saddens my heart to know that a prestigious university like UNILAG would be quiet about this, rather than conducting holistic investigation and giving directive to resolve this issue,” he stated.

Responses from institutions

Reacting to the development, the Head of Communication Unit, UNILAG, Alhaja Ajoke Alaga Ibrahim said some people don’t make requests for their transcripts early enough.

“Some people won’t apply for the document on time. Imagine somebody seeking admission for a higher degree in September and just applying for transcripts in August. We have had such a situation like that in the past. In January, the person was saying he needed the document but did not apply for it. He only applied in August when the item should be sent in September, how fast can we do that?

“We must not forget the issue of a large number of applicants and the pressure on the staff working in that section. It is first come, first to be served. Some also don’t apply right. Some people, especially those living abroad, would get people to apply on their behalf, and the other person may fill wrong address. If somebody has given wrong information, such could be lost in transit.

“We have a process whereby someone can track his or her transcripts. This is to let the applicant know the movement of the document. We allot reference numbers to all requests and there are phone numbers one can call if there is any issue. Even there are email addresses to send messages to, “ she explained.
Speaking on the issue, the Director of Information, University of Ilorin, Mr Kunle Akogun, said, “The transcript collection process has been digitised, whereby our ex-students in need of it need to apply online.

“In normal circumstances, the transcripts are delivered online, within 24 hours, to the addresses provided after the payment of the necessary charges. In cases where the student’s spreadsheet is not readily available at the Transcript Office, it could take between 48 hours and 72 hours to deliver. This is because the candidate’s old Department has to be contacted for necessary action to fish out the spreadsheet.” he said.

Also, a spokesman for a university in Ondo State, who craved anonymity, noted that the number of persons seeking to get their transcripts far outweighs what the staff in the Exams and Records Department could cope with.

“With the huge number of Nigerians going abroad for further studies because of the attached benefit of going with family members, the pressure to get the document is high. Some applicants can even give wrong details of themselves or the places they want their transcripts sent to. Added to that is the penchant of people to get things done as fast as possible and inducing those in charge. That could make doing it on a first come first served basis to be impossible, “ he stated.

We have to be extremely careful when we push for a complete deregulation – Muda Yusuf

Against the backdrop of the presumed full deregulation of Premium Motor Spirit (PMS), also known as petrol, which was believed to have led to the hike in the price of the product, last week, the price may go up again very soon, experts have warned.

The experts predicted their warning on further depreciation of the foreign exchange rate and an increase in the price of crude in the international market.

“And the increase in the price of crude is a very high possibility, given what is going on now in the Middle East, the geo-political tensions, the looming war between Iran and Israel”, Dr. Muda Yusuf, a renowned economist and Chief Executive Officer of Centre for the Promotion of Private Enterprise, CPPE, said.
On his part, another economist, Mr Teslim Shitta-Bey, Managing Director of Proshare, said: “The escalation of conflict in the Middle East could lead to rising global oil and gas prices, which could further raise the local retail price of petrol in Nigeria”.

Also speaking, Eze Onyekpere, Lead Director, Centre for Social Justice, CSJ, said the rising cost of PMS will increase the misery and poverty in the country

The Nigerian National Petroleum Company Limited, NNPCL, had, on Thursday, raised the pump price of PMS by 15 per cent across Nigeria.

The development confirmed Vanguard’s report that plans were underway to fully deregulate the sector and that subsidy would no longer apply.

However, the complete deregulation effect pushed the price of the product to N1,030 per litre, from N897 in Abuja, while the price rose to N998 per litre, from N855, in Lagos.

Checks by Vanguard indicated that the Dangote Petroleum Refinery price also increased by 8.8 per cent to N977 per litre, from N898 per litre.

The latest price increase made it the second time the petrol price had been hiked in the past month.
This showed that the pump price of petrol has risen by more than 411 per cent since President Bola Tinubu came into office in May 2023.

Specifically, from N195 per litre before the President assumed office on May 29, 2023, the price of the product was increased to N448 (Lagos) and N460 (Abuja) in May 31, 2024; N557 (Lagos) and N617 (Abuja) in September 2024; N610 (Lagos) and N897 (Abuja) in September 2024 before the latest increase to N998 (Lagos) and N1,030 (Abuja) in October 2024.

The latest increase, which came against expectations that the crude-for-Naira deal between the Federal Government and Dangote Refinery might lead to a reduction in the pump price beginning from October 1, 2024, has left many citizens, especially motorists, in anger.

Oil markets

Oil markets were on edge throughout last week, dealing with rumors of an imminent Israeli attack on Iranian oil infrastructure. Ultimately, Israel’s attack failed to materialize. Consequently, Brent futures settled just below the $79 per barrel mark. “Prospects of further PMS price hikes are high if some of the major variables driving prices go up”, Yusuf told Sunday Vanguard at the weekend.

“If we see a further depreciation in the exchange rates, that may cause a further hike in price. “If there is an increase in the price of crude in the international market, that may also cause a further hike in price.

“And the increase in price of crude is a very high possibility, given what is going on now in the Middle East, the geo-political tensions, the looming war between Iran and Israel. “So, those geo-political concerns are things that can lead to a further hike in crude oil price which will invariably lead to an increase in PMS price. “These are the risks that we face when we talk about complete deregulation of PMS price. The risk and the possibilities are very high at this time”.

Caution

Yusuf, who is the immediate past Director General of the Lagos Chamber of Commerce and Industry, LCCI, cautioned, “That is why we have to be extremely careful when we are pushing for a complete deregulation of PMS.

“The economy is highly sensitive, you know, to increases in PMS price. The citizens’ welfare is highly sensitive to movements in PMS prices.

“So, there’s a need to be extremely very careful because of the social consequences of further increases in PMS price”.

Dangote Refinery intervention

On the extent to which Dangote Refinery can ameliorate PMS price hikes, the economist said: “As to what Dangote can do, this is beyond Dangote. “Dangote Refinery is a business entity. It is the condition that we create either in terms of the foreign exchange environment or in terms of the crude oil sales to Dangote, that is what can make any difference in terms of price. “Dangote Refinery, on its own, cannot significantly determine the direction in which prices will go. “The best it can do is to try to be more efficient, try to be more competitive, and take advantage that the refining is taking place here.

“I think that is the best that can happen from Dangote. “If we want any significant impact on price through Dangote, then, the government policy must come into play.

“As to what the government should do with the removal of the subsidy, well, my take is that we should just relax all the pressures the citizens are facing, which may entail a trade-off in revenue.
“We should relax measures, especially around trade, around importation, around taxes.

“If you look at sectors that can impact welfare, on productivity, let us reduce their taxes drastically. Look at sectors that can impact the welfare of the people and business productivity.
“Let us reduce the import duty drastically. So whatever we are getting from this hike, let us give it back. Not through the Federation Account.

“But through concessions, through fiscal policy channels, that way I think the economy will be better. “There is no guarantee that if the government puts this money in the Federation Account, the benefits will cascade down to the people, there is no guarantee. “Many of these state governments have different priorities. Don’t forget, we are talking about the three tiers of government, not just the Federal Government.

“There’s a limit to which the Federal Government can dictate to the states and local governments on how they will spend their money. “So, the chances that the benefits will cascade or trickle down to the ordinary citizens that are bearing the burden of this hike in energy are very slim. “This is why I believe that it’s better to give concessions in other areas, particularly around taxes, around importation”.

Disposable incomes

Also weighing in on the issue, Shitta-Bey, addressing how PMS price hikes will impact Nigerians, said: “Rising energy costs have fed into domestic inflation with headline inflation rising to 27.5% in September 2024, according to National Bureau of Statistics (NBS) figures.

“Globally, energy costs have been volatile as a result of geo-political conflicts and changes in demand from economic powerhouses like China. “In Nigeria, rising petrol cost will raise transport and food costs as distribution and logistics expenses rise. “Monetary policy tightening will be unable to deal with these issues because they are supply-side challenges rather than the consequences of excess money supply.

”Households are in for a harsher spell of falling real disposable incomes. This is Murphy’s law at work, that what can go bad can get worse!” The Managing Director of Proshare projected that the escalation of conflict in the Middle East could lead to rising global oil and gas prices, which could further raise the local retail price of petrol in Nigeria. However, according to him, if Saudi Arabia and Russia raise their outputs, the rise could be tempered and domestic retail prices in Nigeria may not rise significantly. He said, “If we can trust public officers, Nigeria’s oil output has increased from 1.4m/bpd to between 1.6m/bpd and 1.7m/bpd.

“The target is 2.3m/bpd in 2025, if this works as desired, rising dollar revenues should increase foreign reserves (roughly at $38bn) and strengthen the naira to dollar exchange rate, which should reduce domestic prices and pull down the domestic cost of PMS, other white oils and gas. “The probabilities of any set of events occurring must be assessed independently, and objectively. Local factors will be just as important as global.

“I support those calling for a swap arrangement with Dangote Refinery. “The government can pay for Dangote’s refined crude with unrefined or raw crude oil. “This means that the government would not need to pay Dangote in naira, and Dangote can hedge against volatility in crude oil prices by having forward contracts in the sale of crude or refined oil with foreign third parties.

“This helps the Dangote Refinery protect itself from exchange rate and price volatility but also helps reduce rapidly changing domestic refined oil prices. “With stable domestic prices for PMS and gas, domestic households are protected from the ‘noise’ of global events as foreign reserves build up slowly, possibly rising to between $48bn and $52bn by H2 2025. “Dangote Refinery is a for-profit enterprise, in Nigeria’s long-term interest, it should be allowed to operate commercially and viably.

“With the removal of toll-collecting non state actors from roads, transportation and logistics costs can be reduced without disrupting the economic logic of domestic oil refining by Dangote and others. ”Only the government can say how much will be saved from subsidy removal. Any other person would be engaging in speculation.

Nobody outside the government’s inner circle of knowledge knows the cost of subsidy, so it may be fool hardy to give a figure. “However, less spending on supporting PMS consumption could be redirected to improve strategic roads to reduce farmgate-to-city travel time, increase gas powered public transportation, and improve educational and healthcare infrastructure, simple things. “Nigerians are hardworking, smart, and entrepreneurial; with the right infrastructure and policy support, they will beat their own paths to prosperity”.

From stagflation to recession

Onyekpere, faulting the NNPCL’s increase of the price PMS, described it “as an exercise founded on dubious and mischievous foundations.” The CSJ Lead Director, who is a lawyer with specialization in development law, electricity reforms and fiscal governance, added, “To state that the increase arose from increased price of crude oil in the international oil market is a specious argument considering that when the price of crude oil falls, Nigerians have never enjoyed a decrease in price.

“Pray, the deregulated market only applies to increase in price and can never lead to a price reduction when the price of crude oil falls. “The rising cost of PMS will increase the misery and poverty levels in a country where over 133 million citizens were suffering from multi-dimensional poverty in 2022 before the twin policies of increase in PMS and floatation of the naira started wreaking havoc on the standard of living.

“If the geopolitics of the Israel-Iran conflict escalates, the price of crude oil is likely to increase in the international oil market, meaning that Nigerians will be required to pay more for PMS.

“A government states that it is fighting inflation through monetary policy rate/benchmark increases while at the same time increasing energy costs in PMS and electricity tariffs and still expects reduced inflation figures.

“This is a contradiction; it is absurd and shows the lack of harmony in economic policy planning and implementation. “It is imperative to reaffirm that for an economy to create value, grow consistently and in a sustainable manner, there should be harmony between fiscal, industrial, labour, monetary, trade, etc., policies. “This increase in the price of PMS would likely continue the gravitation from stagflation to a real recession

“Dangote Refinery can be managed to reduce the price of PMS if the government offers the refinery a production subsidy – through a slightly reduced price of crude feedstock it buys from NNPC.
“This proposed subsidy is a positive one that is different from the consumption subsidy paid on imported refined petroleum. “Now that all subsidy is gone, it is expected that government will save not less than $7 billion every year.

“It is expected that FGN, states and local governments should invest the savings in critical sectors like education, health and infrastructure rather than increased frivolities expenditure in the executive and legislature”.

The Enugu State Government on Sunday explained its decision to impose tax on corpses in mortuaries across the state.

The government said the move was not spurred by a revenue generation drive.

The Executive Chairman of Enugu State Internal Revenue Service (ESIRS), Mr Emmanuel Nnamani, said this while reacting to the Mortuary Tax circular addressed to all the morticians.

According to him, the tax was inline within the state Mortuary Tax Law which had existed for years adding that it was not new to the state.

Nnamani clarified that the mortuary tax was N40 daily only as against N40,000.

“It is an indirect tax paid by mortuary owners, not deceased family and it is just N40, not N40,000. Since its introduction, nobody has been denied burying their dead ones.

“It means that if the corpse stays in the mortuary for 100 days, the mortuary is expected to pay the state a sum of N4,000.

“The tax is not meant to generate revenue but to discourage people from taking their dead ones to the mortuary all the time,” Nnamani stressed.

Daily Trust reports that according to the circular, ESIRS in line with the provisions of section 34 of the Birth, Deaths and Burials Law Cap 15 Revised Laws of Enugu State 2004, approved the implementation of the Mortuary tax.

“The sum of N40.00 only is to be paid by owners of a corpse once it was not buried within twenty-four hours. The amount continues to count daily.

“Kindly ensure that owners of corpses make the payments before collection of the corpses for burial and then remit the same to the ESIRS in any commercial bank under the mortuary tax in Enugu State IGR Account,” part of it reads.

[DailyTrust]