Most Nigeria do not understand the damage done by fuel subsidy but yet we cry for reduction in government expediture, Nigeria spends ten billion dollars yearly on fuel subsidy, this is higher than budget for education or health care.
Many people do not understand the politics behind fuel subsidies and how it is dangerous to the development and growth of Nigeria. We only think of the immediate effect. Nigeria is not the worst country in the world.
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Bola Tinubu was one of those top Nigeria who never really understood the implications of allowing subsidy, he fought against it during Janathan administration because at that time there was no proper awareness of the beneficiary of this subsidy and damage it brings to Nigerians. Everyone is now alert to the damage of fuel subsidy, which can not be sustained. we subsidise fuel for other African countries via smuggling that happens within our borders. They hail us as the giant of Africa, but our people surfer in the consequences of fuel subsidy.
The problem of Nigerians is self inflicted, we want shortcuts to our destination because we are impatient to take the right path. We need a change of mindset for the government to function properly and benefit all Nigerians.
We love shortcuts, which is why people agitate for separation at the same time do not want restrictions or passports to travel to any part of the country for business or leisure. We all want the rain but hate the rainbow. One country benefits us all if we stand together in unity united rather than falling as divided people. Our strength lies in our population and diversity. Many countries who envy us want to see us divided.
The intention of the government to subsidise petrol was simply to make the product affordable for Nigerians and make life easier. So, the average price of petrol in the world can be as high as N590, however, the Nigerian Government will subsidise the product and fix price at N185 bringing total amount of subsidy per litre to N405. Subsidy makes a lot of sense to the real enemy of Nigeria growth and development. The real people benefiting do not care about tribe. They are the Hausa, igbo, yoruba, Edo, and idoma. They are billionaires from different ethnic groups. The money and the profit are now there tribe not the poor, in their villages.
The Nigerian government is expected to pay as much as N405 × 100,000,000 (liters) as subsidy per day to the marketers of the product to keep prices at N185, for instance. This brings the amounts to N40.5 billion daily and about N1.2 trillion monthly. Kindly take note that this amount can either decrease or increase following prices of petrol at the international market.
Petroleum marketers (major petrol dealers with tank farms) usually divert a larger quantity of the subsidised petrol to neighboring countries to resell at the international market price. So, they make the same amount of money the Nigerian Government has paid on the subsidised petrol at the neighboring countries
This makes the product relatively scarce in Nigeria as the leftover becomes lower than the daily consumption in the country. The implication is that petrol stations will be selling fairly higher than the fixed price of N185 (some sells N190, N205, N225, N250, and so on depending on the area). And during peak periods of scarcity, which are also engineered by the marketers, Nigerians still buy same subsidised petrol for as high as N400, N500 and even N800 as the case was in first quarter of this year while sleeping in filling stations. Again, marketers make double.
This entire scenario makes a mess of the good intention of the Nigerian government to make petrol affordable for Nigerians.
This scarcity and high cost of the product despite subsidy leads to an arbitrar increase in the cost of living. Transportation, for instance, goes up crazily.
Therefore, successive federal governments, having seen the outright abuse of the subsidy policy, have always tried to cancel the policy so that market forces can determine the cost of petrol.
More so, the huge amount of money paid into the pockets of marketers can be channeled to other meaningful ventures such as infrastructural development, agriculture, social security, technology, health, etc. These marketers who profit they always fight back. They sponsor protest and unrest, and they facilitate fuel scarcity and long que in fueling stations. They even frustrate Nigeria to be angry with the government. They hijack NLC to perfect their evil, using the nationwide shutdown of the country.
You call Bola Tinubu sick and feeble. I call him Master Strategist. You complain that Buhari was too slow. You are complaining that Tinubu is too fast. What Nigerians really want ? Give Bola Tinubu a chance, he can defeat the powerful men behind fuel subsidy. This sick man managed to defeat the political establishment, including fake news and propaganda, and a sitting president to pick his primary ticket. God can use anyone one to win his war. Remember, the marketers are happy; they remain the top billionaires in Africa. Everyone loves them, wish to be like them, and celebrate them. Whereas the federal government counts her losses, takes the insult, bears the bad name and pity, this has led to the uninformed/suffering of Nigerians like you and me.
Will you support Tinubu to break this barrier and give us freedom or you will remain adamant and spread the hate due to tribalism or you will stand as a Nigeria and a black African to endure and make your country great.