Senior Advocate of Nigeria (SAN), Mr Femi Falana, has called out to the Federal Government to outrightly reject the recent advise given by the International Monetary Fund (IMF), asking it to remove fuel and electricity subsidies in early 2022.
The legal luminary who condemned the advise of the Bretton woods institution described it as capable of inciting the Nigerian people against the government.
According to him, removing fuel and electricity subsidies will affect the poor and the vulnerable which could snowball into a protest that could rattle the country.
The IMF, had in a report published on its official website on Friday, November 19, urged the Nigerian government to remove fuel and electricity subsidies and move to a market-based pricing mechanism in early next year.
The Washington-based organisation who described the controversial subsidies as “retrogressive”, advised the Nigerian government to consider its removal a priority as part of fiscal policy reform.
IMF also called for reforms in the fiscal, exchange rate, trade and governance in the country “to alter the long-running lacklustre growth path.”
“The complete removal of regressive fuel and electricity subsidies is a near-term priority, combined with adequate compensatory measures for the poor. The mission stressed the need to fully remove fuel subsidies and move to a market-based pricing mechanism in early 2022 as stipulated in the 2021 Petroleum Industry Act.”
But Falana in his reaction rejected the advise, saying it will only aggravate poverty in the country.
He urged the Nigerian government to stand its ground and refuse intervention from “outsiders”.
Falana made this known during an interview session with the Arise TV on Sunday, monitored by The New Diplomat.
In Falana’s words, “This time around, the government of Nigeria must be prepared to reject the notorious suggestions by the International Monetary Fund and World Bank to cause major, popular protest to incite the people against the government by asking the government to continue to devalue the naira currency, remove subsidies from electricity and fuel and operate liberal economy policies that will aggravate poverty in the country. Whereas in their own country in the west, the government is giving from time to time subsides to the weak and the vulnerable.
“President Trump, a defender of the status quo… in America gave out over $2trillon by way of palliatives. President Joe Biden has just ensured that the Congress pass a budget that will put money in the pocket of the poor and the vulnerable. Therefore, those who are not criticising United States of America, for giving subsidy to the poor cannot be allowed to come here and incite our government to cancel subsidies meant for the poor, to alleviate poverty in the country.”
Also, the legal luminary, while reacting to the recent threat by the United States Secretary of State, Antony Blinken to slap Nigeria with an arm embargo, said the statement was borne out of concerns over allegations of human rights violations, impunity, among others in the country.
Earlier, The New Diplomat had reported US threat to impose an arm embargo on Nigeria should violations of human rights persist.
Falana added that while the US has issued a threat, it is only Nigerians that can fight to ensure human rights are respected in the country. He said the statement by Blinken is a wake up call for Nigeria, as well as African countries to ensure that democracy is upheld and that there is no room for impunity and authoritarianism.
“I believe the struggle to ensure that human rights are respected in Nigeria is that of the Nigerian people to wage. I am delighted personally that our young people are prepared more than ever before to align themselves with progressive forces in Nigeria to ensure that human rights are respected in our country. All that the friends of Nigeria can do is to support the struggle of the Nigerian people. The United States of America, the United Kingdom, and all will not fight for Nigerians.
“Our experience has bore this out, in all seriousness these countries are worried and that might be the speech of the Secretary of State that we are worried that in the last one year, about four governments have been overthrown in Africa, that we are having a resurgence of military rule and that Africans must ensure that we put an end to this disturbing phenomenon. That Nigeria has a role to play and that authoritarian rule by civilian governments often lead to frustration and frustration of the populace is often exploited by adventurous military men.
“So, if you do not want the democratic process disrupted, the governments in Africa must embrace democracy, must arrest authoritarian rule, must address impunity and more importantly, must address the economic crisis confronting the country,” he added.
