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Udoh – calls ‘Cooking Gas/Household kerosene Crises’ emergency, advises govt to invite experts

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Friday Udoh

The government must be more sensitive towards the improving  the welfare of the citizens  at the  twilight of  high poverty rate, uncertainty and  instability  while reprioritising  its  expenditure to deal with the  immediate economic problems and the impact of primary energy crises, more so the  cooking gas and the Households kerosene , a Ph.D Scholar  in Petroleum Economics, Policy and Management,  who completed  his course  work since 2017 from the Emerald Energy Institute, University of Port Harcourt has said, as he described the situation as the country’s “greatest emergency since it  is directly affecting the vast  population that cut across the  poor and non-salaried lower middle class and the vulnerable.

Similarly,  the  cost of the LPG in the country has  rose by 240 per cent for 12.5kg, hitherto sold for N3,000 in January this year  is now  sold above N10,200 as House hold kerosene is now priced at N414.30 the same as ($1) per litre.

Friday Udoh who is also the Chief Coordinator, Institute of Chartered Economists of Nigeria, South-South, in a chat with journalists, cautioned that seldom to  non response to the crises with the  in -country resources and the human capability  which is in abundance to  look  for elsewhere  in the spectrum of borrowing to meet the economic needs   may not be the best answer to the energy dwarf economy.

“There is  a lot to be done to restore the economy back working. The government should  mobilize  people with proven expertise and competence which could largely be drown from among the country’s professionals, academies and artisans to help develope  and achieving a  home grown technology to process the abundance hydrocarbon resources in the country  than allowing, for natural  gas to  be wasted through flaring and venting.

Udoh said that the country’s  fiscal constraint is palpably  a source of borrowing, but spending on the expenditure understandably is on the increase. “Which does mot mean that we  ignores the budgetary obligations and the constraints, especially for the fact that   our revenues is flattened,” he said.

There are so much tertiary institutions in the country  with wonderfully and great minds that has been consciously and or unconsciously  isolated  from the policy making and solution process of the  country. Whether someone sees any reason not to recognize human capital influences and a place of tertiary and specialised institutions  in  national economic development  such understanding   over  our  precarious disposition as a country is a poor perception.

“With a right therapy and priorities, as  drawn on the country’s many sources of strength, the negative impact high commodity prices on the people could be minimized  and set a stage  for eventful future” He asserts.

With appropriate steps the country is adopted  to minimise spins effect occasioned by the rising in commodity prices in the international market, Udoh said the immediate priority should be  to suppress the impact  of the scarcity. Temporarily, at ensuring that certain levies and taxes are cancelled on imported LPG and House holds kerosene. As he suggested that Mr President constitute a committee that is comprising of  representatives of the Federal Ministry of Education, its counterpart in Federal Ministry of Industry, Trade and Investment, Ministry of Science, Technology and Innovation, Federal Ministry of Petroleum Resources and Professionals in private practices and chaired by a researcher mostly from any of the University in the country  primarily identifying the competence within each of  these  ministry.

Identifying appropriate  approaches  that will effectively  drive   program that is adopted to optimise the resources in -country at solving our energy at present the cooking gas and house holds kerosene problem.

At the epicenter should be focused on   the human capital ,  tertiary and specialised institutions as complemented by professionals.

It must not be underestimated that a source of any economic competitive advantages lies within the confluence of   research, innovation, creativity and entrepreneur (RIC&E) as such increasing; the  needs to attain this at ensuring  efficiency and resiliency in economic system  to whether the unnecessary – externally and sector -specific-demand shocks being  experienced now.

Very true  the Liquefied Petroleum Gas (LPG) popularly referred  as Cooking gas can be processed in a grid format, otherwise in a smallest possible and less expensive means which the tertiary and specialised institutions contribution is critical  and in this case will   enhance the procession of LPG and Household kerosene making it available at least cost.

Correspondingly, tertiary and specialised institutions must be seen as a linchpin to economic development  which inputs is critical and must not be ignored by the government. More so, as the time of low productivity, output  and lack of competitive advantage. At this juncture we as a nation needs a conscious unification of innovation system that link industry, government, tertiary and specialised institution of learning to achieve  competitive advantage and overcome the liquidity problems.

It doesn’t matter from reaching out to bipartisanship consensus, across the political aisle to draw in members of  the opposition who  may have experience and readily available  to contribute  at minimising the vulnerability of the commodity price surge on the economy.

“If, however, the government insists on status quo, with the same alienating  the  tertiary, specialised institutions and professionals, it will do too little, too late,” Udoh said in what he “references ‘  as “stubborn energy crises”.

He said that for the present energy crisis, Nigeria is vast slipped  to a dip economic trap as never in 61 years of now.

“Steep rise in the price of oil in 2008  and the reflection  on the other commodities prices which reaches an all-time high of $147.27 during the 11, 2008 trading penultimate   was not so bad on the economy that is correspondingly demand for a concerted efforts  of the government in various level of policy making to adopt a measure that will save the economy from imminent collapse.

Friday Udoh who is the Chief Coordinator, Institute of Chartered Economists of Nigeria, South-South

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