Engr. WAHAB, Hafis Olamilekan 🇳🇬 🛳🌊🌊

Muslim👳🏽‍♂|Yorùbá|UNIBADAN ALUMNUS|COREN|MNSE 👷🏽|Mariner |INVESTOR💰🧠📈|Polygamy Advocate 👯🕴️👯

[Oluwaseun Ajede @oluwaseun_ajede]

Again, SUBSIDY MUST RETURN.

[Engr. WAHAB, Hafis Olamilekan 🇳🇬 🛳🌊🌊 @Aflewab]

This should be conversation WE SHOULD HAVE IN THIS ELECTIONEERING SEASON.

[𝐇𝐢𝐝𝐢𝐦𝐚, 𝐏𝐡.𝐃. @Realoilsheikh]

Malam Habu, I am interested in this discussion, as a student of energy economics & policy management. It is a topic that I believe should be debated.

I actually support @atiku 's argument for the reintroduction of a fuel subsidy; but I do not mean the old, opaque subsidy regime, that is open to abise & corruption.

That your "𝑮𝒐𝒗𝒆𝒓𝒏𝒐𝒓𝒔 𝒘𝒐𝒖𝒍𝒅 𝒂𝒈𝒓𝒆𝒆 𝒌𝒆𝒉", caught my attention because I have always argued that they, & the FG are the biggest beneficiaries of all these jumbos & not the common man. For me, Dr. Hidima, a targeted, capped, transparent subsidy that reduces the price of petrol to, for instance, ₦400–₦500 per litre for Nigerians, while the govt covers only the verified differential is POSSIBLE!

As per your maths:

A market price of say, ₦1,300 means the govt absorbs ₦900 per litre:

50 million litres per day × ₦900 = ₦45 billion per day

This translates to:

₦1.35 trillion per month
₦16.4 trillion per year!

At first glance, this appears unsustainable.

However, this is where the discussion should be interesting.

Taiwo Oyedele has noted that the government mobilised approximately ₦15.8 trillion for the Federation over 31 months following the subsidy removal and FX reforms.

This averages about ₦510 billion per month. Thus, a ₦16 trillion annual subsidy would indeed be substantial. For me, no one should suggest that govt should issue an uncapped ₦16 trillion expenditure.

The question, for me Malam Habu is, why can't we design a system that subsidises only the first 15–20 litres purchased by households weekly? This is doable.

For Example, Malaysia monitors fuel consumption using 𝐌𝐲𝐊𝐚𝐝 𝐯𝐞𝐫𝐢𝐟𝐢𝐜𝐚𝐭𝐢𝐨𝐧, similar to our NIN and caps subsidized RON95 petrol at RM1.99 per litre up to a monthly limit (such as 200–300 litres). The same Malaysia does support its older citizens of say, 60 & above with 50% fare reductions on select public transit systems like Rapid KL and KTMB. Not only that, low-income older adults may qualify for specific welfare grants like Bantuan Warga Emas (BWE).

Why can't we focus subsidies on public transportation and commercial operators rather than universal consumption?

Why can't we gradually phase out the subsidy in line with improvements in domestic refining capacity? This was what a lot of us expected. For instance, as PH1 comes on stream, 35% subsidy would go. As PH2 comes on stream, another 35% goes. When Warri comes alive, another 20% goes, and when Kaduna comes onboard, 100% subsidy would be removed!

Again, why can't we design a subsidy framework that renders smuggling economically unviable?

𝐓𝐡𝐚𝐭 𝐢𝐬 𝐭𝐡𝐞 𝐜𝐞𝐧𝐭𝐫𝐚𝐥 𝐢𝐬𝐬𝐮𝐞.

The technological tools already exist to monitor petroleum distribution. 𝐖𝐞 𝐚𝐫𝐞 𝐣𝐮𝐬𝐭 𝐛𝐞𝐡𝐢𝐧𝐝!

We can implement digital truck registration systems, depot-to-station tracking, electronic invoicing, GPS and geofencing technologies, and full reconciliation of refinery output, depot receipts, logistics movements, and retail sales. Our organisation can provide this service perfectly! Stations whose reported volumes are inconsistent with their customer base can be audited. Subsidy payments should be made strictly on the basis of verified domestic consumption. If a litre is diverted across the border illegally, it should not attract any subsidy payment.

This is straightforward.

Also, what I observe is that, anytime we are debating on this issue, it is always presented as a binary choice:

Nigerians, you either buy fuel at ₦1,300 per litre OR we "waste" ₦16 trillion paying subsidy.

𝐓𝐡𝐢𝐬 𝐢𝐬 𝐚 𝐟𝐚𝐥𝐬𝐞 𝐝𝐢𝐜𝐡𝐨𝐭𝐨𝐦𝐲.

𝐔𝐧𝐥𝐞𝐬𝐬 𝐨𝐮𝐫 𝐠𝐨𝐯𝐭 𝐝𝐨𝐧’𝐭 𝐰𝐚𝐧𝐭 𝐭𝐨, there is defined a third option:

𝐓𝐚𝐫𝐠𝐞𝐭𝐞𝐝 𝐜𝐨𝐧𝐬𝐮𝐦𝐞𝐫 𝐩𝐫𝐨𝐭𝐞𝐜𝐭𝐢𝐨𝐧.

Government can subsidise essential and vulnerable consumption without extending the same benefit to unlimited or luxury consumption, as explained above & it is done in other countries.

[Engr. WAHAB, Hafis Olamilekan 🇳🇬 🛳🌊🌊 @Aflewab]

@High_bee0001 @OlakunleEzekiel Why do you people lie trough your teeth with bold face like this. Oyinlola started it. I finished from Oluorogbo high school 2008, and my parent didn't pay a kobo for waec. We only did mock and pass.

[Engr. WAHAB, Hafis Olamilekan 🇳🇬 🛳🌊🌊 @Aflewab]

@RealAdeshina 3). Did I just read 5,000 amotekun? That's average of 100-150 corp per local government. OSUN People do you have up to 100 amotekun per local government 😂😂😂.

[Engr. WAHAB, Hafis Olamilekan 🇳🇬 🛳🌊🌊 @Aflewab]

@RealAdeshina 1).Interestingly, you finish schooling within those year APC was in osun.Why don't you now take up any of those jobs you claimed you people created.
2). Now let even contest your numbers..Osun have total of 1,302 public primary school, so you mean you employ 7 cook per school 😂

[Engr. WAHAB, Hafis Olamilekan 🇳🇬 🛳🌊🌊 @Aflewab]

This is road to Iyiola Omosore house.
..... Nigeria Politicians are shameless. Can't even tar road to his own house .

[The Benin Blogger @TheBeninBlogger]

“We Dey Osun. Who do anyhow go see anyhow. If you put body, dem go comot your head. We are kicking out Adeleke. Akpako is coming to off the music of that dancing governor.”

-Collins Aghahowa says

[Engr. WAHAB, Hafis Olamilekan 🇳🇬 🛳🌊🌊 @Aflewab]

@egi_nupe Are we even suppose to have Agbero? 🙂🙂🙂

[Engr. WAHAB, Hafis Olamilekan 🇳🇬 🛳🌊🌊 @Aflewab]

@halal_pair Make up of any form (light or heavy).

[Engr. WAHAB, Hafis Olamilekan 🇳🇬 🛳🌊🌊 @Aflewab]

@Engr_Ashile Solar inverter guru? Really? So what's now the essence of charge controller ( inbuilt or external)

Fallacy of hasty generalisation 😂😂😅.

[Engr. WAHAB, Hafis Olamilekan 🇳🇬 🛳🌊🌊 @Aflewab]

@emmaikumeh These are not villagers, they are their party members moved to that location to welcome him

[Engr. WAHAB, Hafis Olamilekan 🇳🇬 🛳🌊🌊 @Aflewab]

@BOGbadams Monrovia have a central sewage system. House owners and offices pay monthly and the collect it centrally..... Is that hard for our people in power to think Niiii or they are simply bereft of ideas

[Engr. WAHAB, Hafis Olamilekan 🇳🇬 🛳🌊🌊 @Aflewab]

@Pressman2040 Well understood, let me ask a follow up question. Almost all
Our security agencies have SF or tactical squad (sbs, phanters, rangers etc). Why is Extraction not possible? Of all kidnapping case we have had, not one single Case of extraction? Are our SF not trained for this?

[Engr. WAHAB, Hafis Olamilekan 🇳🇬 🛳🌊🌊 @Aflewab]

@winexviv With your level of education, you ought to know better.
We have Engineers, Engineering Technologist, Technician and artisan.
It is not responsibility of Engineer to fix a faulty generator dude 😅😂🤣.
They are even Engineering students,They ain't even Engineering graduate yet.

[Engr. WAHAB, Hafis Olamilekan 🇳🇬 🛳🌊🌊 @Aflewab]

@peng_writer While this is a factor, it is still responsibility of Nigeria Government to protect it's people and businesses.

How are Foreigners being allowed to open both wholesale and retail stores to compete with Nigeria inside Nigeria? Why is our government opening doors for foreigners?

[Engr. WAHAB, Hafis Olamilekan 🇳🇬 🛳🌊🌊 @Aflewab]

@mobilisingniger Lmao.... Even a simple Google would have save you from making that unnecessary claim in 2010. Just a little Google

[Engr. WAHAB, Hafis Olamilekan 🇳🇬 🛳🌊🌊 @Aflewab]

@thecableng @AlikoDangote Now that he mentioned foreign interest, How about we talk how he lord INDIANS Over Nigerians in is own company in Nigeria 🙂🙂🙂

[Engr. WAHAB, Hafis Olamilekan 🇳🇬 🛳🌊🌊 @Aflewab]

@LagosPoliceNG Nigeria Police is simply beyond Redemption..... From Akerele No need from signage to this..... The IQ level of the Police is absurd..... This is more than embarrassing.

[Engr. WAHAB, Hafis Olamilekan 🇳🇬 🛳🌊🌊 @Aflewab]

@Admiral_Cyborg Agbo malu .... Even asewo quarter share fence with Army Tego barrack 🤣😅😂

[Engr. WAHAB, Hafis Olamilekan 🇳🇬 🛳🌊🌊 @Aflewab]

@AyofeAkin__ So they no do photoshoot inside UI mosque? Even a female posing for photo inside male section of the mosque? What sort of nonsense is this ❗.

[Engr. WAHAB, Hafis Olamilekan 🇳🇬 🛳🌊🌊 @Aflewab]

@objectvmedia @lagosstategov @jidesanwoolu @Sola_Giwa @PoliceNG @LagosPoliceNG @aleeygiwa should we use this guy as your IQ level standard in police? As in A CSP who have used more than 15 years in service uttering this gibberish? If someone still violates despite signage, isn't that more evidence to prosecute? Seriously?