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We are at the two ends of the great divide. How we achieved the feat remains a mystery even unto ourselves. This can only happen in such a queer clime like ours.
Nigeria is on the march again. We are never tired of springing the absurd. It is our calling; that is what we know how to do best. And we are proud that we have done it one more time.
Nigeria; we are both rich and miserable. What an uncanny combination! It is far better to be poor than be miserable. Being miserable is very unpleasant. Not only unhappy, but also wretched and in great discomfort.
It simply means, “being in a pitiable state of distress or unhappiness as from want or shame.” That is how the Merriam-Webster dictionary defines “miserable.”
And that is why that economist from John Hopkins University, Baltimore, USA, Steve Hanke, classified us, Nigerians; “as the sixth most miserable people in the world;” that we are wretchedly inadequate and desolate. We are not just rich but miserable.
It was not a guess work. Hanke based his study using the Misery Index. He explained himself this way: “The original Misery Index (MI) was just a simple sum of a nation’s annual inflation rate and its unemployment rate. The index has been modified several times, first by Robert Barro of Harvard and then by myself.
“My modified MI is the sum of the unemployment, inflation and banking lending rates, minus the percentage change in the real GDP per capita.
“Higher readings on the first three elements are ‘bad’ and make people more miserable. These are offset by a ‘good’ GDP per capita growth, which is subtracted from the sum of ‘bads’.”
In our own pathetic case, tragic unemployment rate is our greatest undoing. It is the major contributing factor of our dismal rating. That is the reason we are as miserable as we are today.
Venezuela, Argentina and Iran in that order topped the misery rating. If they can be more miserable than us, I wonder what they are. They are our forerunners, our leaders in misery. Imagine!
Two other African countries made the top 10 most miserable nations’ list. Surprisingly they are Egypt and South Africa of all countries. That is a rude shock to some of us.
How did it happen? How did they fall so woefully? What actually went wrong with their economies that used to be envy to others?
Let us appreciate Hanke for the timely release of his distressing and nasty report. It is unpalatable, a bitter pill to swallow. Our misery is truly legendary and it is all over. We can fell it everywhere. It is never far-fetched.
We need to act fast on it. It came at the time the Federal Government was mulling to add to our already heavy burden. Or what do you call its planned increment in Value Added Tax (VAT)?
That increment would not add any value to our lives; no matter how little or small the increase. It would only make life more difficult, traumatised and miserable for us. It would, of course, “increase” our rating on the “privileged” misery index. It would make us to occupy a more “enviable position” on the list.
That VAT hike would certainly fetch us additional pain and discomfort. That is definitely not the much-taunted “Next Level” being dangled like a carrot at our face.
VAT has as remained contentious since its controversial inception. Its lopsidedness has always being fiercely resisted. The manner in which it is being operated and implemented leaves so much to be desired.
Some states see it as an outright deceit and cheat. They are not getting the real value for their efforts. Others simply grab it as another cash cow, free money of sort.
The states that least contribute are getting the lion share. They smile every month to the bank with free fund. Simply put, it is not being equitably distributed. There is no justice in the sharing formula.
For example a state like Zamfara abhors and detests alcohol. It will not touch it even with a long stick because of its operation of Sharia law. That is its free choice, no qualms.
But, equity and fairness demand that it should not benefit from VAT proceeds. This is because it does not believe in it and does not contribute anything in that direction. It never invested in it either.
Therefore, our fear is genuine. Any increase in VAT would have multiple negative effects. It would affect every aspect of our life adversely. Things may even go out of control. Every item that has a price tag would experience a hike.
Even now the so-called Independent Petroleum Marketers Association (IPMAN), is flying a dangerous kite. It is testing the waters in a very cunny way. It is using Sina Amoo, its Ore Depot chairman in Ondo State, to gauge our moody mood.
He threatened on Monday that IPMAN “may” unilaterally increase pump price. His argument: “Private depot owners have increased the ex-depot price of PMS beyond N133.28 per litre to between N136.50 and N137.
“This can affect the pump price…it certainly will be beyond N145, the official pump price.”
Thank God Amoo was not given a breathing space. Kano State IPMAN chairman, Bashir Dan-Malam, shut him down almost immediately: “IPMAN will not sell fuel above government’s approved price.” Big kudos!
He put a huge lie to Amoo’s warped augment and provided a viable alternative: “All the 21 government depots are selling the product to marketers at the approved price of N133.28, while private depot owners are selling at between 136.05 and N137 per litre.”
So? Marketers have a choice! The private depot owners are not talking yet. They are keeping an unwise mute. They do not owe us a silence but an explanation. Government should not join in this seeming blame game and bulk passing.
We are scared to the marrows. Our bones are aching and cracking fast at the same time. So also our feet are running cold. We do not want to be more miserable.
We MUST be rescued even now!
