Kogi Bread Levy and Fuel Hike, birds of the same feather

 

It is elementary Economics that goods with inelastic demand, give more revenue when their prices are increased.

From the days of IBB to the present day the Federal Government has been raising more revenue from fuel hikes either due to comparatively lower prices or removal of imaginary subsidies.

The Bread levy is in the same vein except that it is new. Yahaya Bello like Margaret Thatcher wants to etch his name on the wrong side of history.

Just like Fuel is an essential commodity, so too is Bread. I recall a story once told by Benson Bello titled the 'Bread Loving family' in definition of Inflation.

As the story went, Benson Bello at National University Games, being a Basket Ball Player at University of Nigeria Nsukka found himself in the midst of other students discussing Inflation. In terms of definition, several definitions were given and his was in the shape of the story about Bread.

When he was going to the Federal Government College, an uncle gave him one Naira and asked him what he will do with it and he said he would buy Bread and the Uncle frowning gave him a hard knock, for then One Naira will buy 5 loaves of bread. 

Years later when his younger brother was to go to a Federal government college and he was given the same amount and he too said he was going to buy bread with it, this time, the uncle nodded in agreement for that amount would fetch only two loaves of bread.

In conclusion, Benson Bello said, that, that was his own definition of inflation, since theirs was a bread loving family.

Really, like in Kogi like in many families in Nigeria, Bread is very popular.

In Nigeria, raising of money is quite easy. The part that should be easier is the problematic part, which is accounting for the money.

It is sad but true, hence we are very much short of heroes. Not because, we are expecting too much, but just for them to tell us what they do with amounts collected from us for our benefit.

That should not be rocket science. But so far in Nigeria, this is our story.