Home Life Style Failure To Foresee Unintended Consequences Of Insurance policies By Dr Nasir Aminu

Failure To Foresee Unintended Consequences Of Insurance policies By Dr Nasir Aminu

by Good News

They order to know the price of everything but know the price of nothing – Oscar Wilde

The first quarter of the fiscal year of 2022 has been stout of ghastly data for Nigerians. There’s oil scarcity and current tales of oil thievery. The persistent terrorist attacks all the map via the country stay a scenario for the authorities. Thecountry additionally skilled a double electricity grid crumple in lower than 48 hours. These three concerns win added to the current hardship within the country, regardless of one’s ethnicity, age, social put, or religion.

The highlights of this authorities are stout of examples of policies producing dramatic unintended penalties. The shrink back is that they attain no longer want to take a step inspire to esteem why things are occurring badly. From insecurity to transportation to the economy, they’ve failed to foresee the unintended penalties of their policies. These series of outcomes are dim moments for the country. As traditional, every time ghastly things occur to Nigeria and Nigerians, this authorities by no strategy takes the blame. All of us know this authorities does no longer esteem being held guilty, and we is no longer going to halt, especially all via this election season.


The scenario of gasoline is causing more misery to Nigerians. The stakeholders are still debating the gasoline subsidy elimination. The country is still no longer decided about how subsidy payments are being made. The country’s rising debt profile worries folks who label public finance. Substandard gasoline importation is being investigated, and queues at gasoline stations continue to develop consequently of gasoline scarcity. Then now we win the Nigeria Nationwide Petroleum Corporation reporting that the country is shedding a median of 200,000 barrels per day of its indecent oil manufacturing to theft. Lawmakers win summoned the Overall Managing Director of NNPC to grunt these concerns. When journalists puzzled the Minister of Transportation, Rotimi Amaechi, in regards to the oil theft case, he referred them to Petroleum Minister. I am hoping Nigeria’s Lawmakers are getting the message.

One more unhappy coverage that will additional burden Nigeria and Nigerians is the have interaction of a 20% stake within the Dangote refinery for $2.76 billion. Nigerians would win benefitted from the funding if the refinery had been operational. However, essentially based fully on consultants’ projections, the refinery is no longer going to search operation all via this authorities’s term. So, it would win been higher to invest the $2.76 billion in an operational enterprise that will at present toughen the country’s contemporary scenario. Moreover, the funding is overpriced. An American company, HollyFrontier, got Sinclair Oil for $2.6 billion. Fancy the Dangote refinery, Sinclair oil has a refinery with a processing capability of 678,000 barrels per scoot day. These are no longer neatly-intended policies that can push the country inspire to a voice route.

The transportation industry is one explicit industry that has been within the information within the past few days as terrorists attacked an airport and blew up a transferring put collectively. Sooner than the Minister of Aviation would possibly well well voice the terrorist attack on Kaduna World Airport, a Kaduna-dawdle put collectively changed into as soon as additionally attacked by the terrorists. The vocal transportation minister changed into as soon as rapid to deflect the accountability inspire to the authorities for refusing to elevate the equipment the ministry requested. He clearly defined how such forms of equipment would win helped with the insecurity challenges. The unintended penalties of refusing to exhaust appropriate N3 billion to elevate safety equipment win ended in many Nigerians’ loss of life and accidents from the present put collectively attack. Many others win been kidnapped for ransom, including Sadiq Ango – a prominent formative years who aspires to contest for public assert of labor. I pray for theirsafe return.

With foresight, the authorities must still win bought these pieces of equipment. However it completely appears to be like it is no longer a precedence. Thegovernment had spent N8.51 billion on presidential aircraft simplest in 2020. Closing year, Buhari and Osibanjo’s presidency spent N3.4 billion on feeding and commute charges. Since we can continue to pay for such costs, I bear in mind we must still acquire the money to right the lives of the in sort folks if the authorities in truth cares about us.

The scenario of electricity present has been a broad scenario for the country. The 2 episodes of grid crumple in lower than 48 hours are appropriate the final result of the shrink back. In 2018, Tony Elumelu, regarded as one of the house owners of the country’s producing corporations, educated the authorities to recapitalise the flexibility corporations by growing its stake from the present level. The Vice President snappy rebutted the recommendation by asserting the authorities did no longer win the money. However in 2019, Osinbajoreported that the authorities had pumped about N1.5 trillion in intervention funds into Nigeria’s strength sector within the closing two years. It’s miles a decided demonstration of inconsistency in resolution-making. 

The inability to recapitalise the flexibility corporations is regarded as one of the concerns that must be addressed to toughen the electricity present within the country. Many folks who win lost religion on this authorities label that they would perhaps perhaps no longer level of curiosity on fixing concerns at their root sources. Primarily based fully totally on the authorities’s responses to concerns, I predict they’re going to fight to handle the contemporary outcomes of the electricity concerns within the country. However I am hoping I’m wicked for the sake of the in sort folks.

In summary, the authorities is struggling to developprogressive policies. One can deduce that they search theprosperity of usual residents as a luxurious that folks want to pay for. They treat poverty as an offence for which participants are being penalised. Their actions are producing dramatic unintended penalties. As things stand, the public moodwill no longer in finding higher in favour of this authorities. This would perhaps perhaps simplest decline. To paraphrase Oscar Wilde, this authorities claims to know the price of everything but knows the price of nothing.

Dr Nasir Aminu

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