By Kenechukwu Aguolu
Protest is one of the ways used by citizens to draw the attention of the government to pressing issues that are not being appropriately addressed. Most of the demands of the organizers of the proposed October 1st protest have either been resolved or are being addressed while others are not in the best interest of the country. Moreover, protests in Nigeria that are tagged as peaceful often end with some elements of violence, leading to disruptions of economic activities and loss of lives and property; the #EndBadGovernance protest is an example. In this light, there is no need for the planned protest to occur.
The Federal Government has commenced paying the new national minimum wage, and therefore state governments and members of the organized private sector who have not started should follow suit. The government must enforce it. The national minimum wage has a multiplier effect on the economy; it will boost employee productivity, reduce brain drain, and stimulate demand for goods and services. For some time now, many businesses have been struggling in Nigeria, with many going under due to low sales stemming from the low disposable income of the Nigerian worker.
According to the National Bureau of Statistics, Nigeria’s headline inflation on a year-on-year basis has eased for two consecutive months; dropping to 33.40% from 34.19% in July 2024 and dropping further to 32.15% in August 2024. The drop in July 2024 was the first time since December 2022. While this is commendable, the government is not resting on its oars, as it recently raised the Monetary Policy Rate by 50 basis points to 27.25%. I expected this rate hike in light of the new national minimum wage implementation.
In a bid to eliminate banditry and terrorism in the northwest of the country, President Bola Ahmed Tinubu recently ordered the Chief of Defence Staff and Minister of State for Defence to relocate to Sokoto State. This move has already yielded remarkable results. The Federal Government has also deployed 10,000 agro rangers to safeguard farmlands and protect farmers from escalating attacks in 19 states of the country.
To curb oil theft, the Chief of Defence Staff recently inaugurated a joint monitoring team to enhance military operations in the South-South region of the country. Generally, the level of insecurity across the country has dropped significantly, but there is still much to be done and the government is aware.
The request for the reversal of the removal of the fuel subsidy is retrogressive in my opinion. This government has decided to do things differently to achieve better results. Yes, it has resulted in a hike in the cost of transportation; therefore, to alleviate this, the government has started distributing CNG buses and conversion kits across the country, with CNG tricycles to be distributed to youth in the pipeline.
CNG is a much cheaper alternative to PMS whose price is expected to drop when domestic refineries come fully online due to economies of scale, competition, and the envisaged increase in the value of the naira due to reduced FOREX pressure.
The government has frequently stated its commitment to reducing the cost of governance. However, the recent purchase of a new presidential jet has led people to question its commitment to this cause. The presidency needed a reliable aircraft, which is also more cost-effective than chartering aircraft and frequently maintaining old ones. President Tinubu gave a directive to reduce the size of Nigeria’s delegation to the just concluded United Nations General Assembly as a sign of his administration’s commitment to reducing the cost of governance.
People have the right to protest as long as it is peaceful; however, in my opinion, the planned protest is unnecessary as most of the demands made have been overtaken by events. The government has commenced implementing the national minimum wage, inflation is on the decline, the distribution of CNG buses and conversion kits has commenced, and the government has shown its commitment to reducing the cost of governance, as evidenced by President Tinubu’s directive to reduce Nigeria’s delegation to the just concluded United Nations General Assembly (UNGA). It is also worth noting that some of the arrested #EndBadGovernance protesters have been released, and the request for reversal of the removal of the fuel subsidy is not in the best interest of Nigeria. Protest is not the only way to make our voices heard, nor is it the most effective.