The price tag of a litre of petrol will become cut-throat if the Federal Government of Nigeria actualises its long-time threat to remove the fuel subsidy. The negative consequences of this removal are vast. And aside from the fact that the fallout is unquantifiable, it is also unforeseeable, because no economic expert or pundit can really predict its catastrophic proportions.It is no news that the Nigerian economy is oil-driven. Nigerias sole benefactor over time has been its immeasurable oil reserves, which are not only present mainly in the Delta area of the country , which borders the Atlantic Ocean, but also embedded in pockets of broad regions scattered across the country.We are truly blessed!, were the cries of Nigerians upon the discovery of the Black Gold-crude oil. However, as the country continued to shift its entire weight on the proceeds from crude oil, whereupon the blessing started assuming the appearance of a curse. The country has shunned its human and agricultural resources to exploit mainly crude oil. And as a result, it has unwittingly starved its masses amidst a sea of plenty.Yes, most people should blame corruption as the major culprit of this starvation, but they should not fail to see that over-dependence on oil is also culpable. Why' Because once upon a time, Nigeria stood-out amongst other nations because of her economic prowess provided by her boundless wealth from crude oil sale. However, that epoch is long spent, because we are currently in an age where the worlds dependence on oil is diminishing at a pace that will shame a race car.By implementing frugal measures, most non-OPEC countries are focusing on other means of energy other than that of crude oil, because of its cost which fluctuates at their expense. Also is the endless green campaign for clean and renewable energy, which has led to electric, battery-driven, hybrid vehicles. These technologies are not common in Africa yet, but they are already popular in Western countries and Asia.In Nigeria, clinical signs of the increasing worlds independence on oil are palpable. So palpable are they that they are already causing tension in the country. Not too long ago, the Federal Government bemoaned that there would be severe budget deficit come 2012 because of falling global price of crude oil. It is also noteworthy, that the finance minister, Ngozi Okonjo-Iweala, has complained that 70% of the annual national budget is used to service recurrent expenditures (one of which is for salaries of civil servants).Therefore, in these austere times when there is clamouring for increment in the minimum wage, the government has deemed it fit to bleed the citizenry to pay for such expense.What will become of the masses when this is done' Will they starve some more' Of course; they will crave for the basics of life, and their yearnings will never be met. They will become more anaemic and sickly. Profound poverty, nothing short of what Somalia is encountering, will plague Nigeria.Come 2012, when the fuel subsidy is removed, the petrol pumps will dispense blood, because the present uproar that trails the announcement of the planned obsolescence of fuel subsidy, will become full-blown strife and chaos.The current high insecurity level in the country will seem like a peaceful demonstration when compared to the level of insurgency and rebellion then. Nigerians who had been stoic enough to bear hardships all these while will not only speak-out but act-out because this latest attempt to subjugate and oppress them would have reached the insufferable limit.Rather than being overbearing, the government should try to be parental to the masses. In this time of fierce global competitiveness, nations across the world have mustered strength and garnered resources to stay above water.Against all odds (such as scarce resources) countries not endowed with the black gold have developed their human resources to produce products for exportation, and hand-in-hand with that they have also created massive employment opportunities. Why cant Nigeria emulate that'- Damilola Owoyele wrote in from Shaje, Abeokuta, Ogun State.
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