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Fuel price hike in Nigeria, electricity tariffs, inflation, Naira-USD exchange rate dey make Nigerians remember Jonathan goment

Current pump price of price in Nigeria and di latest electricity tariffs wey di goment announce among oda recent policy change dem don dey make some Nigerians prepare for protests and demonstrations for some parts of di kontri.

Nigerians even take to social media platforms dey wonder if dis current goment of President Muhammadu Buhari beta pass di goment of former president Goodluck Jonathan.

BBC Pidgin find out say na mainly di economic policy changes dey make pipo blood dey hot for di west African nation.

See five goment policy dem wey make Nigerians compare Buhari & Jonathan

Electricity tariff

Only days earlier, di goment increase electricity tariffs by more than 100% wey take effect on September 1st, 2020.

Local tori dey report say di increment na part of di requirement for di approval for proposed World Bank loan for di power sector. “We dey also move forward for our power sector reforms – with technical assistance and financial support from di World Bank – including through capping electricity tariff shortfalls dis year to N380bn and moving to full cost-reflective tariffs for 2021,” di Nigerian goment tok for letter wey dem send to International Monetary Funds (IMF).

Although di new tariff from NERC never dey cost-reflective enough, Nigerians don dey more for electricity as beginning of di implementation of di loan wey goment bin wan collect. Wetin dis also mean na say, Nigerians never see di end of increment wey go come ontop light matter as goment still need push di tariff to dey cost reflective.

However, for 2013 wen di electricity regulator under former president Goodluck Jonathan increase tariff, Nigerians bin vex so tey even Socio-Economic Rights and Accountability Project (SERAP) call am “anti-pipo”. At di time, electricity across di kontri dey lesser dan N30kWh. Even as di tariff dey lower dan wetin Nigerian dey pay now, former president Jonathan bin still wan reduce am by 50% in 2015 but some Nigerian say na sake of election dey make di goment reduce am.

Fuel increment

But no be only dis one dey make Nigerians wonder. Di increment of petroleum price sef dey vex pipo. Nigerian goment announce on Wednesday say di price of petrol go increase to 151.56 per liter from di 148 wey di price currently dey.

For January 2012 wen former president Goodluck Jonathan remove fuel subsidy, di move lead to national protest, di popular Occupy Nigeria. Jonathan comot for office in 2015 and many pipo bin believe say removing di subsidy bin part of di reason wey no make Nigerian vote am.

Nigerians also dey ask why pipo no dey outside dey protest afta di goment increase cost of dis services. Some say di current All Progressives Party wey be opposition during former administration go don quick organise protest if no be dem dey goment.

Deji Adeyanju wey be activist and former member of People Democratic Party (PDP) di biggest opposition party for Nigeria, even ask why pipo wey dey support Buhari no come out to protest all di increase.

How price of petrol be between 2000 – 2020

  • June 2000, di price of petroleum na N22 per litres.
  • 1 January, 2002 dem increase di price from N22 to N26 per litre.
  • 23 June, 2003 Federal Goment increase di price from N26 to N40 per litre.
  • 29 May, 2004 Federal Goment increase di price from N40 to N50 per litre.
  • August, 2004 Federal Goment increase di price from N50 to N65 per litre.
  • 27 May, 2007 pipo wey go buy fuel gas pay N75 per litre. Afta pipo protest di increase, goment reduce pump price to N65 per litre on June 2007.
  • 1 January, 2012 Federal Goment announce fuel subsidy to increase di price of PMS to N141 per litre. Anoda protest happun sake of dis increase, thousands of pipo march for street, dem tag di protest #OccupyNigeria. goment later reduce di price to N97 per litre.
  • 18 January, 2015 – Sake of crash in di price of crude oil for di International Market, di former minister of petroleum, Mrs. Diezani Allison announce di reduction in di price of Premium Motor Spirit from N97 to N87.
  • May 2016, di price of petrol later increase to N145 per litre, di Minister of State for Petroleum, Mr. Ibe Kachikwu say di increase dey come to balance di different prices wey Nigerians dey pay to buy fuel from di marketers sake of fuel scarcity.
  • March 2020 – Sake of di crash in crude oil prices for di international market, pump price of Premium Motor Spirit (PMS) move from N145 to about N125 per liter.
  • Afta one month, for di second time in May 2020, di Petroleum Products Pricing Regulatory Agency (PPPRA) don announce new pump price band to between N121.50 to N123.50 per litre for petrol.

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High unemployment

But no be dis two event dey make Nigerians wonder whether dem don make mistake or not. Di rate of unemployment too bin dey go up since 2015 wey President Buhari enter office. Although, between 2010 and di fourth quarter of 2015, unemployment rate bin dey go up and down, unlike since 2015, till now wey be say di fugure dey go up.

Unemployment rate bin dey 6.4% for last quarter of 2014 and now di rate be 27.1%, according to di recent data from di Nigerian Bureau of Statistics.

But NBS add say, “rise in di unemployment rate no mean an increase in job losses. Rather, an increase in unemployment fit occur as a result of several reasons, of which loss of an existing job be just one. Rise in unemployment generally means di number of pipo wey dey find jobs don increased”.

Fuel price hike in Nigeria
Wetin we call dis foto,Unemployment and underemployment figure

Inflation rate

Also, di price of goods and service too don go up as di Consumer Price Index wey NBS release for July show.

“Di consumer price index, (CPI) wey dey measure inflation increase by 12.82 percent (year-on-year) for July 2020. This is 0.26 percent points higher than di rate recorded for June 2020 (12.56) percent” di bureau tak for dia report.

“Dis rise in di food index was caused by increases in prices of Bread and cereals, Potatoes, yam and oda tubers, Meat, Fruits, Oils and fats, and Fish, “NBS tok.

Buhari on Thursday say to help Nigerians with di current high cost of poultry production, he don approve di release of 30,000 tons of maize from di national reserves to animal feed producers. He also say di goment dey try challenge of high food prices but many Nigerians on social media dey criticise di president say im dey blame oda pipo for high cost of food.Skip Twitter post, 3https://d-566084658998338279.ampproject.net/2008220050001/frame.html

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The cost of rice wey be popular food for Nigeria also don go up. Di Nigerian goment ban to dey import rice for Nigeria to boost local production but dis don make make rice expensive as 50kg rice wey dey below N12,000 don dey be N25,000 for market.

Naira fall

Also di exchange rate don jump up despite promise say im go reduce Naira rate against dollar. E get time wey Naira fall during former administration but for 2015 wey president Muhammadu Buhari enter office, naira to dollar bin dey around N250 to $1. Specifically, on December 25, 2014, dollar to naira bin dey 185 before di kontri Central bank of Nigeria (CBN) devalue Naira under former president Jonathan, According to CBN on May 28, 2015, a day before ex-president Jonathan hamd over to President Buhari, dollar dey $197 to N1. As at today, dollar bin dey sell for 380 at di central bank.

Fuel price hike in Nigeria
Wetin we call dis foto,Di current exchange rate of dollar to naira

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Insecurity

President Buhari bin promise to kill boko haram and oda fight fight wey dey happun for di north but in recent times, di fight for Kaduna and bandit attack for oda places for di kontri don dey make pipo wonder. However, di number of pipo wey boko Haram bin dey kill don reduce, according to COuncil on Foreign Relations (CFR) wey dey track di rate of insecurity for kontris.

According to di data wey CFR get, Borno state get di highest number of death for di kontri sake of say e be di epicentre of Boko Haram fight.

Sake of all dis tins wey dey happun, civil societies and oda pressure groups don begin ginger for protest across di kontri. Di Nigerian Labour Congress (NLC) too don say dem go strike just as group called RevolutionNow say dem go enter street all over Nigeria to protest.

Fuel price hike in Nigeria
Wetin we call dis foto,Dis dey show di number of pipo wey don die since 2011 to now
Fuel price hike in Nigeria
Wetin we call dis foto,Monthly rate of death don reduce frm 2015 but between 2018 and now e dey go up and down.

Nigerians for social media don begin dey worry about how Nigeria go be by 2023 wen di tenure of di current President Muhammadu Buha go end. One Twitter user, Kelvin Odanz, say make pipo no tink say dis administration go get “happy ending”.Skip Twitter post, 6https://d-566084658998338279.ampproject.net/2008220050001/frame.html

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