Nigerians are often heralded as some of the most resilient people in the world. Their unique capacity to endure hardship, maintain hope, and forge ahead in the face of adversity is truly remarkable. This resilience succinctly defines Nigerians as amazing folks as they continue to smile and push through the challenges of a socio-economic and political landscape that is often fraught with obstacles.
One of the most pressing challenges currently facing the Nigerian populace is the incessant hike in petroleum products, particularly the Premium Motor Spirit (PMS), more commonly referred to as petrol. The rising cost of fuel is not merely an economic statistic; it is a grim reality that profoundly impacts the daily lives of millions of Nigerians. With every increase in pump prices, the burden on the average citizen becomes heavier, creating a domino effect that touches every aspect of life in this vibrant but ailing nation.
The latest surge in pump prices has left many Nigerians grappling with the harsh realities that accompany this unwelcome trend. For families already stretched thin by economic constraints, an increase in fuel prices can mean the difference between affording a warm meal for their children or going without. As transport fares rise in tandem with fuel prices, the cost of commuting escalates, affecting not only personal travel but also the price of goods and services across the board. This leads to a pervasive sense of inflation that seems to spiral out of control, leaving many feelings trapped in a cycle of financial struggle.
Transportation, a critical component of any economy, has become increasingly strained under the weight of rising fuel costs. A market trader in Benin City or Auchi, for instance, finds that she must raise her prices to accommodate the surging costs of transporting her goods from Lagos or Onitsha to the market. A father commuting from the outskirts of Benin City to his workplace notices that his salary, already inadequate, falls further short as he grapples with increased fares that eat up the minimum wage increment. The impact of rising transport costs is felt across the entire population, igniting a sense of frustration and helplessness that is difficult to shake off.
Adding to this burden is the behaviour of petroleum dealers, whose practices exacerbate the plight of consumers. These dealers demonstrate a troubling pattern when it comes to pricing. As soon as new price adjustments are announced, they are quick to increase their pump prices, often within minutes, eager to capitalise on the latest news. However, when (may be) the prices are reviewed downward, their response is markedly different. The reduction is rarely reflected at the pumps with the same urgency. Many dealers delay lowering their prices or simply fail to do so altogether, leaving consumers ensnared in a web of perpetual increases.
This disparity in pricing behaviour raises significant questions about the integrity of the petroleum distribution system in Nigeria. The lack of accountability among dealers often leads to a perception of exploitation. Many consumers feel that they are being taken advantage of by a system that prioritises profit over their welfare. This growing frustration is palpable as citizens witness their purchasing power erode while the cost of living continues to rise.
Furthermore, the rising cost of fuel has far-reaching implications for the Nigerian economy as a whole. As transportation costs surge, they create a cascading effect, leading to increases in the prices of virtually every good and service. This scenario is particularly detrimental to small businesses, which often struggle to absorb increased operational costs without passing them on to consumers. Consequently, this inflationary pressure can stifle economic growth, making it increasingly difficult for businesses to thrive.
The emotional toll of these challenges cannot be underestimated. The relentless struggle to afford basic necessities, combined with the stress of rising fuel prices, contributes to a pervasive sense of hopelessness among many Nigerians. The resilience that once characterised the Nigerian spirit can begin to ebb over time in the face of unending adversity. Citizens often express their frustration and disillusionment, questioning the very fabric of a system that seems designed to work against them.
It is imperative for the Nigerian government to prioritise investment in alternative energy sources. By diversifying the energy landscape, the country can reduce its dependency on petroleum products and mitigate the impact of price fluctuations on the populace. Investing in renewable energy solutions not only offers a path to greater energy security but also aligns with global efforts to combat climate change.
Transitioning to alternative energy sources is no overnight task; it requires long-term planning, substantial investment, and unwavering commitment from all stakeholders involved. The government must foster an enabling environment for private sector investment in renewable energy projects. This entails streamlining regulations, providing incentives, and fostering partnerships with both local and international entities dedicated to sustainable energy development.
As Nigerians continue to traverse the myriad challenges posed by rising pump prices, it is vital to recognise that resilience alone is insufficient. While the ability to endure hardship is commendable, there is a call for Nigerians to tailor their actions, plans, or spending to fit what they can realistically afford, rather than overextending themselves or taking on burdens they cannot manage.
This is not the era for copycat behaviours, wanting to imitate friends or neighbours. Parents or guardians for instance, should consider enrolling their children or wards in government-funded higher educational institutions instead of private ones where they will pay through their nose. Attending a government institution may be a more financially sensible choice without compromising on quality education. Nigerians have to be mindful of their limitations.
The persistent increase in fuel prices is more than an economic issue; it serves as a reflection of the broader socio-economic and political challenges facing Nigeria. The impact on the average citizen is profound, affecting livelihoods, well-being, and the very fabric of society.
Reflecting on the analysis of Osita Chidoka, a former Nigerian Minister of Aviation and one time Corps Marshal of the Federal Road Safety Corps (while using N1,600 as exchange rate), says a minimum wage worker in Nigeria has to work significantly 2.6 hours to afford a litre of fuel compared to workers in Egypt (21 minutes) and South Africa (1 hour 4 minutes). This highlights the disparity in purchasing power and living standards among these countries. While Chidoka acknowledges that fuel prices in Nigeria might not be the highest globally, he emphasises that the low income of Nigerian workers makes it difficult for them to sustain a reasonable standard of living.
While Nigerian workers appreciate the recent increase in wages, there is a collective hope that the government will take further actions to consider policies that will increase wages again, and also improve overall economic conditions and purchasing power for Nigerians.
In mitigating the huge transportation fares by the Nigerian workers, both the Federal and State governments should contemplate reducing the number of working days in a week as a strategy to alleviate the burden imposed by high transport fares. By reducing the frequency of required shuttle to work, individuals could potentially save money on transportation costs, thus easing financial pressures associated with commuting.
In addition to reducing the number of working days per week, the two tiers of government should deploy buses on the roads with subsidised fares. This action aims to assist commuters by making transportation more affordable and accessible. The subsidised fares would help alleviate the financial burden of commuting, especially considering the high costs currently borne by commuters.
In conclusion, advocating for fair policies, and investing in sustainable energy solutions, Nigerians can work toward a brighter future, unshackled from the cycle of relentless price increases. The resilience of the Nigerian spirit must be harnessed as a catalyst for propelling the country toward a greater Nigeria that will be a cynosure of all eyes.
Odaro, a columnist, lectures in the Department of Mass Communication, Auchi Polytechnic, Auchi, and can be reached via: [email protected].
