Youth Party has demanded that the APC led Government provide palliatives to the masses from the 30% increase in FAAC disbursements to the 3 tiers of govt to avert the impending NLC strike. Youth Party noted that despite the increase in the monthly revenue of the govt since June, the government has applied a slow and unserious cosmetic “rice sharing” approach to a situation that demands a robust sustainable economic way forward.

It is pertinent to state that the FAAC disbursement was N786.16bn in May and N1.11trn in August, 2023. The disbursements have witnessed a steady increase since the removal of fuel subsidy upon assumption of office of the current administration. It went from N786.16bn in May to N907.054 bn in June, N966.12bn in July and N1.11trn in August, 2023. An increase of over 30% from the pre-subsidy removal FAAC shared revenue. These increases are a direct savings from the removal of the fuel subsidy that used to gulp about 400bn per month before the removal of the subsidy. Unfortunately, the savings have not translated into any serious effort towards an affordable public transport, education or public health systems for the masses.

The proposed NLC industrial action to pressure the Government to act and protect the masses from economic impact of the policy is an action supported by the Youth Party. However, we caution the NLC to take a creatively pragmatic approach that would not compound the economic hardship currently being experienced by the masses. We frown at an indefinite strike.

Sadly, the President Tinubu led administration removed the petrol subsidy without any plan to protect the young, poor and vulnerable from the economic impact of its said policy on 29th May, 2023. First, the APC Government took about 80 days to announce palliative measures on 17th August since 29th May, 2023. The Government had no plan for the masses before the removal of fuel subsidy. Period. The policy was an afterthought at best as the Government merely gave an unserious 5billion Naira loan to each state, which in turn as led to a rice sharing galore across the the Country. Removal of petrol subsidy by the Government without any plan to cushion the blow on the masses has led to intolerable hardships. Petrol is part and parcel of the Nigerian way of life. Small businesses, homes, hospitals, school children and individuals are dependent on petrol for their day-to-day activities in the absence of constant power supply. Today, President Tinubu failed to appeal to NLC to call off the impending bstrike in his independence speech or state quantifiable and time bound interventions that can address the current hardship faced by Nigerians. The N25,000 to the lowest grade of civil servants excludes majority of poor Nigerians. No time frame or urgency was spelt out for the promised affordable CNG buses.

The President mentioned the procurement of buses but failed to provide crucial details. Nigerians deserve to know how many buses will be procured, how they will be deployed, and when they will hit the road.

The State Support Infrastructure Fund raises several questions. What does this fund entail? What kind of infrastructure does it target? Who decides which infrastructure projects to fund, and do states receive a flat rate? Furthermore, how will this fund be financed, especially considering the potential impact of subsidy removal?

How this cynical proposals assist the workers monthly ‘take home pay’ to actually ‘take them home’ remains to be seen. Workers now sleep in offices since their ‘take home’ salary can no longer “take them home”. Parents now struggle to afford transport fare of their wards to schools. The cost of food stuff has skyrocketed on the back of over 300% increase in petrol cost without any efforts to reduce the cost of public transports as it is done in other market driven economies

This solution portrays how disinterested the APC Government is from the reality plaguing Nigerians and its lack of empathy. It is also obvious that the APC Government has adopted the failed ‘neoliberal economics’ or ‘trickle down economic theory.’ How does rice or the money to low grade civil servants fuel buses or generators? Once the rice is consumed, will another batch be shared? This tokenism policy does not address the major issues of hyper food inflation and public transportation which has become expensive for the masses.

The Government recently claimed to cut down the cost of governance by directing the Ministry of Foreign Affairs to freeze the processing of visas for all Government officials seeking to travel to New York for the United Nations General Assembly, while going to the G20 summit with a large Entourage. This is tantamount to painting a donkey as a zebra when very clearly the moment it rains the reality will be revealed. It’s shows lack of seriousness and playing to the gallery . The failure to reduce the number of ministries shows the Government’s true intentions, which is party over country. The Senate and House of Assembly have equally showed no intention in cutting down the cost of governance. The number of ministers appointed is the largest so far in the history of Nigeria.

The Youth Party has at various points have proposed a more be pragmatic approach to dealing with the pain points of Nigerians. The focus on public transportation to reduce cost of living should be immediate. The distribution of 100-seater buses across states the country with the aim of keeping prices as low as possible is a first step. Perhaps 100 buses for each state within the next 3 months. Secondly, Nigeria’s gas remains untapped. The transition to compressed natural gas (CNG) and converting petrol or diesel engines to CNG should be fast tracked . This is a policy that should be expedited. The FG should engage NURTW on how the cost of transport can revert to pre-subsidy rates. Public transport should be subsidized as it’s done all over the world.

The idea that the govt Nigeria can operate on purely free market principles is untenable. Masses cannot be subjected to the vagaries of the market. Market has its limit. Free market in the West does not usually extend to public transport. Public transport is not for the powerful and wealthy. The masses need to be protected. Neoliberal economics or trickle down or elite consensus that champions deregulation and privatization without serious public action protecting the masses is not an end in itself and would not work. The economy should benefit the ordinary worker.

Also, the Youth Party would like to call on the NLC and it’s allied unions to apply the pressure of their actions with a human face, as their ultimate goal should reduce the hardship being faced by Nigerians and not to worsen it. An indefinite strike would worsen an already bad situation.

Despite being in a challenging situation, Nigeria remains well-equipped to move forward. For over six decades since gaining independence, the socio-economic conditions of its citizens have remained deplorable. Democracy, much like military rule, has often brought bitterness and several unfulfilled promises. The desired quality of leadership has dwindled, overshadowed by greed and avarice in public service, leaving the average Nigerian in a state of hopelessness.

Unfortunately, the current economic situation does not offer much hope for improving the common man’s living standards.

The battle against criminality, particularly banditry and Boko Haram, persists, leading to skyrocketing unemployment rates and a growing number of internally displaced people in camps. After 63 years of independence, Nigeria’s picture appears gloomy. Political divisions along ethnic and religious lines have been exploited by the elite, further dividing the country and diverting attention from crucial issues.

Despite the slow and often imperceptible progress, it’s important to recognize how Nigerians, especially the youth, have consistently risen above these challenges. They’ve made their voices heard in various fields like music, technology, sports, and literature, promoting the country positively. Young Nigerians have broken records and showcased untapped soft power, often without government support, displaying a remarkable level of patriotism.

While grappling with persistent challenges such as a failing national grid, inflation, and a depreciating currency, the demand for better governance remains crucial. Elections are just one step in the journey to democracy; the quest for good governance is essential for a brighter future.

Hence, the Youth Party celebrates the greatness within all Nigerians, holding onto hope for a better future. We envision a Nigeria that fulfills our dreams and one we proudly pass on to the next generation. Happy Independence Day!

We received the untimely passing of rising Afrobeat Star, Promise Olamidimeji Aloba (Mohbad) in suspicious circumstances with heavy hearts. We commiserate with his family, especially his parents, wife, and son. Whilst, we wait for the conclusion of the investigation by the Nigerian Police. We implore the Police to conduct its investigations transparently, and expeditiously, and publish them due to the public interest nature of the matter.

Sadly, we note and condemn the reports of a strong culture of violence in the Nigerian music industry. The news media consistently reports violent incidents involving artistes. We are inundated with numerous and frequent accounts of feuds between record labels and young musicians. This shows a lack of acceptable dispute resolution mechanisms in the industry. Moreso, the deployment of intimidation on fans and fellow musicians is seen in various cases. This needs to be addressed frontally and transparently by the regulatory authorities and the music industry to save lives and also the image of the industry. The music industry in the US lost some of its leading lights, Tupac Shakur and Christopher Wallace (B.I.G.) in 1996/97 due to violence in the industry. This needs to be prevented.

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The Youth Party is set to conduct its Primary Elections in preparation for the Local Government elections in Ekiti State in line with the Electoral Act (2010) (as amended) and the Independent National Electoral Commission (INEC) guideline.

Here is to announce that the Youth Party’s National Executive Committee (NEC) has issued guidelines for the conduct of the Party’s primaries for the Local Government elections in Ekiti State in conformity with the INEC Guidelines on the conduct of party primaries .

Furthermore, in compliance with the Electoral Act (2010) (as amended) and the Independent National Electoral Commission (INEC) guideline the Timetable and Schedule of activities for the conduct of the 2023 Local Government Primary Elections in Ekiti is as follows:

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Also read Youth Party’s Local Government Primary Election Guidelines by clicking the link below

Guidelines For Primaries

We are pleased to announce the appointment of Sope Durodola and Ifeanyi Nwoye as the Acting National Secretary and National Auditor, respectively, subject to the ratification of the National Executive Committee (NEC). They were appointed at the National Working Committee meeting on 28th May, 2023. Sope Durodola replaced the former National Secretary, Mujaheed Ahmad, who resigned. Whilst, Ifeanyi Nwoye replaced Dr. Umar Mohammed, the former National Auditor, who is currently the acting National Chair of our great Party.

They are to hold office until the next election at the National Convention, where new national executive officers will be elected for a 4 year tenure in line with our Constitution.

Sope Durodola was the pioneer/inaugural National Secretary of our Party and was elected at the National Convention on 16th October, 2016. He was born and bred in Ibadan; obtained his Bachelor’s degree from “Great Ife” and has an MBA from the prestigious ESADE Business School in Spain.
Sope has worked with some of Nigeria’s foremost companies within the FMCG and telecoms sectors and is an ardent Sports follower. He was the Party’s Acting National Treasurer until his current appointment.

Mr. Ifeanyi Nwoye is a founding member of Youth Party. He is a legal practitioner with keen interest in taxation, secured credit transactions, maritime, aviation, corporate, and commercial practice. He has experience in various aspects of law, including litigation.
He has an L.L.B from the University of Nigeria, Nsukka, and is studying for his L.L.M at the University of Lagos. He is a member of the Nigerian Bar Association, the Institute of Chartered Secretaries and Administrators of Nigeria, and the Chartered Institute of Arbitrators (CIArb). He was the Acting Financial Secretary until his current appointment.

 
Whilst our Party supports the removal of fuel subsidy by the Federal Government, we vehemently oppose the implementation of the policy without any form of social safety net  to cushion the impact and protect the poor.
 
Yes, the nation cannot justify spending less than a trillion on education and health respectively last year but over a four (4) trillion on fuel subsidy. However, most countries subsidize public transport to assist the poor and vulnerable. This would allow the the take home pay of low wage workers to truly take them home.
 
Most importantly, we believe that subsidy on fuel should be gradually removed within a space of 6 months to 1 year to mitigate the impact on the poor. During the removal period, the Government should subsidize public transport to reduce the effect on low income earners and the vulnerable. This should be carried out by allowing public transporters to continue to buy fuel at subsidized rate either through a weekly voucher system or exemption from certain statutory fees with an agreement to maintain transport fare at the same rates. Government should partner with the public transport interest groups like Nigerian Labour Congress (NLC) and National Union of Road Transport Workers (NURTW) to ensure that the removal of fuel subsidy does not affect the poor.

Also, there is an urgent need for an increase in the minimum wage to assist the poor to manage the effect of the removal of fuel subsidy and the attendant increase in transportation cost. Employers may also need to increase their commitment to their social responsibility by revisiting their remuneration structure to protect their junior staff from the severe and dire impact of the removal of fuel subsidy. More needs to be done in societal interest.
 
 
Furthermore, Government should accelerate the shift to compressed natural gas (CNG) by prioritizing its abandoned Autogas Policy. CNG currently costs N100-110 per unit. This is below N488-540 a litre cost of petrol. Using CNG as an alternative fuel will assist in reducing pressure on subsidy paid out by FGN on Public transport. It is also a cleaner and cheaper fuel. Some companies are already successfully using CNG to power their fleet. Specifically, the following should be carried immediately:
 
i. Enact legal framework that incentivises gas development
ii. Subsidize the conversion cost of the 10,000 petrol or diesel engines to CNG
iii. Facilitate the availability of CNG at filling stations
 

 
It is in light of dire fiscal realities of Nigeria that the Youth Party released its Revenue Strategy titled A Bold Revenue Plan for Nigeria on 22nd March, 2020. The plan contains a number of pragmatic, economically sound and well-thought out ideas for solving, or at the very least ameliorating Nigeria’s revenue challenge.  
 
The underlying philosophy of the plan is to drive an increase in our tax base, whilst reducing tax rates to attract investments and encourage tax compliance. Our plan details ideas that would raise $US30bn within 3-years by improving our tax and incentive policies and through the efficient utilization of Nigeria’s existing assets.
Specifically, we propose to:
 

1. Drive a 100% rise in corporate tax receipts by reducing the consolidated tax rate from 34.5% to 22.5% and expanding the base of registered corporate taxpayers from 6% to 14% within 2 years;
2. Attract new investments in crude oil production that will drive Nigeria’s production from 1.9mbd to 3mbd (million barrels/day) within 3 years by implementing the Petroleum Industry Act (PIA), reducing oil taxes and issuing attractive, competitive and clear rules around Nigeria’s notoriously opaque oil industry;
3. Generate $US16bn from the sale of 20% of FGN’s 49% equity in NLNG;
4. Generate $US3.5bn from the sale of 25% of FGN’s equity in NPDC;
5. Ring-fence the $US19.5bn generated from the two equity sales above and dedicate those funds to capital projects to rescue our broken critical public infrastructure and services. We would ensure effective use of those funds by domiciling them for management by a globally respected Sovereign Wealth Fund like the Norwegian or Qatar Sovereign Wealth Fund.
6. Generate a $US1bn annual dividend from efficient private sector management of NPDC;
7. Save over N100bn annually by reducing the size of our government
    
   You can download our Bold Revenue Plan on our website. Download here
    
   The Youth Party is a registered political party seeking to drive generational change in Nigerian politics and infuse new ideas and approaches to politics in Nigeria. We seek the support of all who recognize the importance of these ideals and desire to shape a more positive and progressive future for Nigeria.

The Youth Party has urged the Federal Government to immediately restrict travel from China in other to avoid another pandemic.

We note that although China is refusing to share accurate information on infections and deaths from the resurgence of Covid, it is estimated that at least 5,000 people are dying daily from the dreaded virus. We urge the Federal Government to first restrict travel from China and take necessary steps to trace, isolate and test passengers from China in the last two weeks.

It is pertinent to state that about 13 countries have restricted travel from China to protect their citizens, and I wonder why the Federal Government is waiting for knowing the huge traffic between Nigeria and China. We must ensure we immediately impose travel restrictions from China and take the necessary steps to track passengers that have arrived in Nigeria from China in the last two weeks.

It is our informed position that Nigeria’s health system and economy cannot manage another pandemic and must do everything necessary to avoid a resurgence.

Thank you.

Ayo Adio
National Publicity Secretary