My social media channels are classrooms. And most times, I write things which deviate from the “typical” consensus. What if I tell you that fuel subsidies are not Nigeria’s main problem? What if I tell you that what you see as a “fuel subsidies” problem is actually inefficiency in government? When you do not know how much petrol you use, is that a fuel subsidy problem? When you do not control your borders, feeding smugglers, is that a fuel subsidy problem? When you pay for “imported” fuel which never arrived, paying fake invoices, is that a fuel subsidy problem?
Simply, when you fail on those and many, you need an excuse. Good People, there is no major country which does not subsidize fuel. But while they subsidize fuel, they use that cheap energy to drive PRODUCTION because energy is a very important component of the manufacturing process. China leads the world. The United States follows. Japan is 5th. With energy subsidies, they have a manufacturing base, and when they tax the outputs from those industries, they recover their money! Nigeria’s fuel subsidy problem is that it was designed to feed corruption.
The US postal service has not made a single profit in the last 20 years. That is a massive subsidy to improve the supply chain, across America, by making sure commerce works. But they’re smart: the money used to subsidize post office is recovered when profits of companies which depend on the postal system are taxed. Indeed, subsidy as a platform strategy.
Nigeria needs fuel subsidies to build a competitive production economy. Fuel subsidy is not the main problem; corruption is. Deal with corruption and you will get the "productive" dividend of subsidizing energy. https://t.co/5osyyKXJNY
@Omojuwa Grow up man. He gave a clear analogy that will be understood by the common man on the street. BVAS captured the results but it didn't get to IREV in realtime as promised by INEC. What's your point?
The “poor in spirit” are those who know they cannot rely on themselves, that they are not self-sufficient. They feel their need for God and recognize every good that comes from Him as a gift, as a grace. #GospelOfTheDay (Mt 5:1-12) #Beatitudes
I ask all of you to join me in praying for Father Isaac Achi, of the Diocese of Minna in northern Nigeria, who was killed last Sunday in an attack on his rectory. So many Christians continue to be the target of violence. Let us #PrayTogether for them.