FG’s palliative measures – The Sun Nigeria

President Bola Ahmed Tinubu Announces Palliative Measures to Cushion Effects of Fuel Subsidy Removal

Introduction

President Bola Ahmed Tinubu recently addressed the nation in a nationwide broadcast, announcing palliative measures to alleviate the impact of the removal of fuel subsidy. This move comes in response to the skyrocketing prices of food items, cost of living, fuel, and transport fares, which have become unaffordable for millions of Nigerians. The implementation of these measures aligns with the Sustainable Development Goals (SDGs) and aims to address the economic challenges faced by the country.

Palliative Measures

1. The government plans to allocate N75 billion to fund 75 enterprises at a nine percent interest rate per annum.
2. N125 billion will be allocated to Micro, Small, and Medium Enterprises (MSMEs).
3. N75 billion will be dedicated to supporting 100,000 MSMEs and start-ups with N500,000 to N1 million at a nine percent interest rate per annum.
4. A conditional grant of N50 billion will be provided to one million nano businesses.
5. Small business owners in each of the 774 local government areas will receive N50,000 each, totaling 1,300 beneficiaries.

• About 200,000 metric tonnes of grains will be released from strategic reserves and distributed to households across the 36 states and the Federal Capital Territory (FCT) at moderate prices.
• 225,000 tonnes of fertilizer, seedlings, and other agricultural inputs will be distributed to farmers.
• From the recently approved N500 billion, N50 billion will be allocated for the cultivation of 150,000 hectares of rice and maize, N50 billion for the cultivation of 100,000 hectares of wheat and cassava, and N100 billion to acquire 3,000 units of 20-seater CNG-fueled buses for states and local government areas.

All these measures are expected to be implemented by March next year. However, it is crucial to note that these measures should have been put in place before the removal of fuel subsidy to ensure a more effective response to the economic challenges faced by Nigerians.

Emphasis on SDGs

The implementation of these palliative measures aligns with the SDGs, particularly Goal 1: No Poverty, Goal 2: Zero Hunger, Goal 8: Decent Work and Economic Growth, and Goal 10: Reduced Inequalities. By providing financial support to enterprises and MSMEs, distributing grains and agricultural inputs, and investing in transportation infrastructure, the government aims to address poverty, hunger, unemployment, and inequality in the country.

Call for Seamless Implementation

While these measures are a step in the right direction, it is essential to ensure their seamless implementation. The distribution of palliatives should not be politicized or limited to members of the ruling party. Lessons should be learned from past experiences, such as the sectional and poorly implemented palliative measures under former President Muhammadu Buhari’s administration. Transparency and accountability must be upheld to prevent corruption and ensure that vulnerable Nigerians truly benefit from these initiatives.

Additional Measures

In addition to the announced palliative measures, the government should prioritize efforts to lessen the economic hardship caused by the fuel subsidy removal. This includes revitalizing the existing refineries and establishing modular refineries to reduce reliance on imported petroleum products. The development of the railway sector should also be prioritized to enable mass transportation of people and goods. It is crucial to address the socio-economic problems faced by the majority of Nigerians.

State Governments’ Role

To complement the federal government’s efforts, state governors should also roll out their palliative measures. It is crucial for these measures to reach millions of vulnerable Nigerians across the country.

SDGs, Targets, and Indicators Analysis

1. Which SDGs are addressed or connected to the issues highlighted in the article?

• SDG 1: No Poverty
• SDG 2: Zero Hunger
• SDG 3: Good Health and Well-being
• SDG 8: Decent Work and Economic Growth
• SDG 9: Industry, Innovation, and Infrastructure
• SDG 10: Reduced Inequalities

The article discusses the economic challenges faced by Nigerians due to the removal of fuel subsidy, which has led to increased prices of food items, cost of living, fuel price, and transport fares. These issues are directly connected to SDG 1 (No Poverty), SDG 2 (Zero Hunger), and SDG 10 (Reduced Inequalities). Additionally, the article mentions the government’s plan to provide palliative measures and support MSMEs, which align with SDG 8 (Decent Work and Economic Growth) and SDG 9 (Industry, Innovation, and Infrastructure).

2. What specific targets under those SDGs can be identified based on the article’s content?

• Target 1.2: By 2030, reduce at least by half the proportion of men, women, and children of all ages living in poverty in all its dimensions according to national definitions.
• Target 2.1: By 2030, end hunger and ensure access by all people, in particular the poor and people in vulnerable situations, including infants, to safe, nutritious, and sufficient food all year round.
• Target 3.8: Achieve universal health coverage, including financial risk protection, access to quality essential health-care services, and access to safe, effective, quality, and affordable essential medicines and vaccines for all.
• Target 8.3: Promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity, and innovation, and encourage the formalization and growth of micro-, small-, and medium-sized enterprises.
• Target 9.2: Promote inclusive and sustainable industrialization and, by 2030, significantly raise industry’s share of employment and gross domestic product, in line with national circumstances, and double its share in least developed countries.
• Target 10.4: Adopt policies, especially fiscal, wage, and social protection policies, and progressively achieve greater equality.

Based on the article’s content, the specific targets identified are related to reducing poverty (Target 1.2), ending hunger (Target 2.1), achieving universal health coverage (Target 3.8), promoting decent job creation (Target 8.3), promoting sustainable industrialization (Target 9.2), and achieving greater equality (Target 10.4).

3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?

• Indicator 1.2.1: Proportion of population living below the national poverty line, by sex and age.
• Indicator 2.1.1: Prevalence of undernourishment.
• Indicator 3.8.1: Coverage of essential health services.
• Indicator 8.3.1: Proportion of informal employment in non-agriculture employment, by sex.
• Indicator 9.2.2: Manufacturing value added as a proportion of GDP and per capita.
• Indicator 10.4.1: Labour share of GDP, comprising wages and social protection transfers.

The article does not explicitly mention indicators, but the identified targets can be measured using indicators such as the proportion of population living below the national poverty line (Indicator 1.2.1), prevalence of undernourishment (Indicator 2.1.1), coverage of essential health services (Indicator 3.8.1), proportion of informal employment (Indicator 8.3.1), manufacturing value added (Indicator 9.2.2), and labour share of GDP (Indicator 10.4.1).

4. Table: SDGs, Targets, and Indicators

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Source: sunnewsonline.com

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