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Minus fuel subsidy, plus wahala, By Dan Agbese
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Crude oil has been good to our nation. Very good, indeed. It is easy to rhapsodise our oil wealth and the little village, Oloibiri, where it all began in 1956. Oil wealth rescued Nigeria from the economic pit of hell and transformed it into a modern nation in the eternal time it takes to say Lord Lugard. It made the country famous and numbered it among the rich nations of the earth.
Without the stupendous oil revenue, we most probably would still be clawing our way out of that pit as one of the least developing nations burdened with poverty and diseases. Life here would be more brutish and even shorter. But there would be no thieves in high places or bandits or kidnappers because there would not be much money to steal. No money, no corruption. Millionaires, let alone billionaires, are not minted from peasant agriculture. Because crude oil is, we are where we are as a nation, and we have become what we are as a nation. That is the good news known to every primary school pupil in the land.
The bad news is that there is such thing as oil curse. Michael L. Ross wrote his 2012 book, The Oil Curse, on it. He did not define the curse of oil. He chose instead, to point to its negative effects on the lucky developing nations under whose soil nature deposited the precious oil-bearing hydrocarbon. However, he made the point that more money in the coffers of governments of oil-rich developing nations has not been the blessing it ought to be. Or, to put it another way, it has been a mixed blessing. A combination of forces has turned oil into a curse. When American oil prospectors told King Idris of Libya that they had struck oil in his country, according to a quotation lifted by Ross, he did not jump for joy. Instead, the king told them with a certain degree of royal prescience: “I wish your people had discovered water.”
On page 234 of his book, Ross wrote: “The oil curse is largely caused by the unusual properties of petroleum revenues. Unless countries are already wealthy and have strong institutions at the time that oil production begins – Norway or Canada – they can cause political and economic problems.”
The current social dislocation and the economic woes occasioned by the removal of petroleum subsidy points to how careless we have been in elevating crude oil to the main source of our national wealth. We earn some 80 per cent of our foreign earnings from it. Easy wealth has lulled into unpardonable complacency in the management of our oil wealth.
Crude oil is not a dependable pillar of social and economic development in an oil-producing nation. Crude oil is a depletable source. The oil fields that gush oil today can dry up tomorrow and sink our nation below the globally recognised poverty level. Crude oil is a buyers’s market. When the buyers lower the prices, the treasuries are empty.
It follows that an oil-producing nation that builds its castle of social stability and economic progress on oil revenue is building it all on fine sand. The castle is sooner than later shattered by the winds of volatility in the crude oil market.
Our leaders, in khaki and agbada, never failed to talk of diversifying the economy to cushion it against the inevitable bad attitude of crude oil and save the country from descending from the Olympian heights of oil wealth into the marsh of poverty. Agriculture, even in its peasant stage, is a more dependable pillar of social stability and economic development. No one needed telling. But more lip service was paid to it than the concrete and sustained steps it needed. So, the agriculture land sprawls in all directions in its brown glory. The green revolution was mere bureaucracy.
If you ever had problems with appreciating our precarious position in our near total dependence on crude oil, the current difficulties in managing the national economy post the removal of fuel subsidy from June last year should tell you what hold crude oil has on every aspect of our national life. Its power goes far beyond the earnings from it. No one ever thought that the removal of fuel subsidy would turn out to be such a great social, political, and economic problem.
The fuel subsidy was rightly conceived as part of the welfare system to make fuel relatively cheaper for the citizens of an oil-producing nation. It was turned into an easy money-making venture by men and women who could not even spell crude, as in crude oil. The corruption in its administration became a source of national frustration. It should follow that its removal should rank as a calculated attempt to de-rich the oil importers and save the country what was corruptly stolen through the corrupt administration of the fuel subsidy regime. It has turned out that the removal of the fuel subsidy is much more complicated than lancing the boil on the nation’s economic management nose.
Crude oil and the easy flow of petro-dollar from it has made the easy life a virtue in our country. Whatever threatens this life of somnolence is resisted by the primary beneficiaries of a social and economic system that protects itself from radical reforms. Oil glut resulted in lower prices paid for our crude oil in 1982. President Shehu Shagari imposed austerity measures to rein in our spending on non-essential goods such as champagne and Argentine steak and stabilise the system.
An instant reaction by our young people was exemplified by the Andrew syndrome. They could not take it. And there began the steady stream of the Andrews checking out known as brain drain. The whiff of the current economic difficulties gave us a Yoruba word, japa. Our young people are jumping out of the leaking boat in search of greener pastures in countries built, not without some difficulties by their citizens. Their citizens stayed home and salvaged their countries. We choose not to remember the exhortation by Major-General Muhammadu Buhari, to remain here and salvage the country together. When he came as a military ruler, there was Andrew; by the time he left office as president, there was/is japa.
If poverty is the root cause of social and political problems and instability, it should then follow that wealth will be a solution to, and a stabilising factor, in all countries whose revenues largely depend on oil wealth. It is not so. One reason is that oil wealth parades paradoxes exemplified by our history in the management of our oil wealth. We are a rich but poor nation. Our country is the officially crowned poverty capital of the world. Because of oil, we are rich and yet, because of oil, we are poor. We have more poor people in our country, 158 million of them by the last count, than the combined population of the countries of the West African sub-region.
We should not be where we are today. Four oil refineries are enough to meet all our domestic fuel needs. But they have been dead since the death of dodo. We have lived all these years through the contradiction of a major world oil-producing nation exporting its crude and licensing independent oil importers to import the refined products home at prices subsidised by our taxes.
These times tax our economic managers in how best to respond, not just to the public protests in some of our major towns and cities, but more importantly to the present and the future of our national oil economy. When the public space is poisoned as it is now with social protests over the difficulties blamed on the fuel subsidy removal, the choices are made more difficult. The immediate choice is to find a short-term plan to address the people’s grievances and end the protests. One option is to roll back the removal of fuel to appease the people. It is not an option, really. It will only be our national shuffle: one step forward, two steps backward. The government must show courage and determination to pull the nation through this. It must grit its teeth and commit itself to a radical paradigm shift in the management of our economy that will replace our crude oil economy with a sustainable agricultural economy.
By Kayode Sanni-Arewa
Lagos-based perfume merchant and founder of Dhamma Perfumes, makers of FAB-LAB and ARO-FAC fragrances, Obi Ubaka, has shared a detailed roadmap for thriving in the perfume industry. He emphasizes that success hinges on building a unique brand identity, mastering both the art and science of fragrance creation, and staying attuned to the ever-evolving market landscape.
Ubaka, who operates from Block 6 Above Plaza, Trade Fair Complex along the Lagos-Badagry Expressway, explained that the fragrance business demands a rare blend of artistic vision, business acumen, integrity, and persistence.
He also described his brand as the type that helps people boost their confidence and stand out through fashion world, adding that his years of experience in the business of selling of designer perfumes for wholesale and retail customers has given him requisite knowledge and experience to speak as an authority within that business climate.
While fielding questions on navigating the scented landscape and essential strategies for perfume business success, Obi said; “The perfume industry, a multi-billion dollar global market, is fiercely competitive. To carve out a niche and thrive, aspiring perfumers and entrepreneurs need a strategic roadmap that encompasses creative prowess, market awareness, and operational efficiency. Let’s explore the core elements of this fragrant formula or let me say defining one’s niche and target audience, before embarking on scent business, a crucial first step is identifying your target audience. Who are you trying to reach? What are their aspirations, lifestyle, and scent preferences? Understanding these demographics allows you to invest in fragrances that resonate deeply.
In this business merchants must also be conversant about the raw materials used in producing them. Deep knowledge of fragrance ingredients, including natural essential oils, absolutes, and synthetic aroma chemicals must always be noted to ascertain the veracity of their quality and how long they can stay on the persons wearing them. Understanding the classification and composition of scents; citrus, floral, woody, oriental, etc. and how to blend them harmoniously to create a balanced and appealing fragrance profile should never be compromised. Mastering the techniques to create perfumes that have staying power (longevity) and a noticeable presence (projection) must be part of what should be appreciated in this very lucrative business.
On the issue of safety and regulations, Obi added, “well what I can say about this is that adhering to industry safety standards and regulations regarding fragrance ingredients and labeling is very important and of course every business owner must be law abiding and protect industry extant guidelines. One must also consider taking perfumery courses, working with experienced perfumers, or investing in resources that provide in-depth knowledge of fragrance formulation.”
In crafting a compelling brand story and identity, the founder of Dhamma Perfumes, makers of FAB-LAB and ARO-FAC fragrances added, “In a saturated market, a strong brand story differentiates you from the competition and moreover, you must have integrity. For example, this number, +234806 519 7515 has been my mobile for decades, since I have nothing to hide. The number has not changed. Besides that, your brand story should equally communicate your values, inspiration, and the unique philosophy behind your fragrances. You must develop a consistent and engaging marketing strategy that effectively communicates your brand story to your target audience through various channels.
“E-commerce Website is another important tool to expand the frontiers of perfume business from market research and product development to packaging design, branding, marketing, and choosing the right sales channels. A user-friendly website with high-quality product images, detailed descriptions, and secure online ordering will also be an advantage, while also building a sound and symbiotic relationship with logistics companies and others who are in the business dispatch services. Similarly, engaging with your target audience on social media platforms like Instagram, Facebook, Whatsapp, and Pinterest, showcasing your brand, and building a community around your fragrances must also be accommodated and considered.”
When asked about the unique role of packaging in the success of a perfume brand he said, “Packaging plays a critical role in conveying brand identity and influencing purchase decisions. We always advise stakeholders in the perfume business value chain about high-quality packaging that reflects the brand’s aesthetics and protects the fragrance. Consider sustainable packaging options to appeal to environmentally conscious consumers.
“Beyond that a serious minded merchant must also think about staying ahead of trends in the ever-evolving fragrance industry; this includes continuous learning and market research, these are very essential. You must also follow industry publications, attend trade shows, monitor social media trends, and engage with customers to understand their evolving preferences. Adaptability and innovation are key to long-term success,” Obi stated.
News
Trump Admin orders Nigerians, other green card applicants to return home for residency processing
The United States has directed Nigerians and other foreign nationals seeking green cards to return to their home countries to complete the application process.
The directive was announced on Friday in a press statement issued by the US Citizenship and Immigration Services (USCIS).
The agency explained that the policy was intended to restore what it described as the “original intent” of US immigration law.
USCIS spokesman, Zach Kahler, stated that the new policy would help reduce the number of migrants who remain illegally in the United States after unsuccessful residency applications.
According to the statement, except under extraordinary circumstances, foreigners seeking adjustment of status will now be required to process their residency applications through US consular offices abroad under the supervision of the United States Department of State.
The agency stated: “We’re returning to the original intent of the law to ensure aliens navigate our nation’s immigration system properly. From now on, an alien who is in the U.S. temporarily and wants a Green Card must return to their home country to apply, except in extraordinary circumstances.”
Kahler added: “This policy allows our immigration system to function as the law intended instead of incentivising loopholes. When aliens apply from their home country, it reduces the need to find and remove those who decide to slip into the shadows and remain in the U.S. illegally after being denied residency.”
USCIS explained that the new directive would mainly affect temporary visitors, including students, tourists and workers who entered the United States on nonimmigrant visas.
“Nonimmigrants, like students, temporary workers, or people on tourist visas, come to the U.S. for a short time and for a specific purpose. Our system is designed for them to leave when their visit is over. Their visit should not function as the first step in the Green Card process,” the statement added.
The agency further stated that processing residency applications through consular offices abroad would help free up limited agency resources for other immigration priorities.
According to USCIS, the policy would enable the agency to focus more on applications involving victims of violent crimes, human trafficking cases, naturalisation requests and other immigration services within its jurisdiction.
“The law was written this way for a reason, and despite the fact that it has been ignored for years, following it will help make our system fairer and more efficient,” the statement noted.
In December 2025, former US President Donald Trump temporarily suspended the processing of green card and citizenship applications filed by Nigerians and nationals of other countries newly added to the US travel ban, according to a CBS News report.
The suspension affected legal immigration applications handled by USCIS and mainly targeted immigrants from selected African and Asian countries.
Many of those affected were already living legally in the United States and were seeking to adjust their immigration status or become American citizens.
The Trump administration also directed USCIS to freeze all immigration petitions, including applications for permanent residency and citizenship, from nationals of 19 countries covered by the travel ban announced in June.
Hon. Dr. Akpodiete Olotu JP, Executive Director of the Olotu & Ekuogbe Rowland Akpodiete Foundation, chaired the 3rd Annual Inter-House Athletics Competition and Send Forth Ceremony at Iwhreko Primary School on May 21, 2026. The event took place at the school premises and brought together students, staff, parents, and guests for a day of sports and celebration.
Dr. Olotu Akpodiete was accompanied by Amb. Comr. Kpohraror Emmanuel, an old boy of Iwhreko Primary School. His presence highlighted the importance of alumni giving back and supporting the growth of their former school and the younger generation.
In her welcome address, Headteacher Chief Mrs. Eyamu welcomed guests, parents, and participants. She encouraged parents to remain actively involved in their children’s education, stating that parental support strengthens students’ sense of belonging and motivates them to excel. She also expressed appreciation to the Olotu & Ekuogbe Rowland Akpodiete Foundation for its continued support to the school.
Speaking as Chairman of the occasion, Hon. Dr. Olotu Akpodiete thanked the headteacher and students for the warm reception. He commended the school for organizing the event to promote talent, discipline, and unity among pupils. He assured that the foundation would continue to support the students and the school to drive development and growth.
The 3rd Annual Inter-House Athletics Competition and Send Forth served as both a platform to showcase student talent and a send-off for graduating pupils. The ceremony reinforced the role of community-driven initiatives in advancing education and youth development in Ughelli.
Imo North chooses experience: Araraume’s primary election win and what it means, By Sufuyan Ojeifo
Dhamma Perfumes, CEO, Obi Ubaka Explains How To Succeed In Fragrance Business
Trump Admin orders Nigerians, other green card applicants to return home for residency processing
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