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On today’s thread: The scam called subsidy.
The subsidy had to go.
Let me not break tables today.
But know it.
Nigeria imported DPK- Kerosene.
And allocated it to marketers at one quarter of the landing cost in the name of helping the poor.
At some point Nigeria imported
The subsidy had to go.
Let me not break tables today.
But know it.
Nigeria imported DPK- Kerosene.
And allocated it to marketers at one quarter of the landing cost in the name of helping the poor.
At some point Nigeria imported
DPK to land Offshore Lagos at 150 -160 Naira per liter.
And sold it at 41 naira per liter.
Oya let start from the basics.
Many marketers paid One million dollars to grease palms and get allocations. It was routine stuff.
At some point it was one million dollars for 10 million
And sold it at 41 naira per liter.
Oya let start from the basics.
Many marketers paid One million dollars to grease palms and get allocations. It was routine stuff.
At some point it was one million dollars for 10 million
liters.
If such a marketer sold 10 million liters in Apapa at ex tank price of 150 per liter then he would make
100x10,000,000 = One billion.
One billion then was over 5 million dollars.
So without breaking any sweat, beyond staying in a 5 star hotel in Abuja for 4 days, an
If such a marketer sold 10 million liters in Apapa at ex tank price of 150 per liter then he would make
100x10,000,000 = One billion.
One billion then was over 5 million dollars.
So without breaking any sweat, beyond staying in a 5 star hotel in Abuja for 4 days, an
average tank farm owner in 2013 would make at least 4 million dollars on a small allocation of kerosene.
Now let me tell you, some marketers who were TANning all over the place, got these locations for fun.
Then they would take a few trucks of kerosene and go to some stadia
Now let me tell you, some marketers who were TANning all over the place, got these locations for fun.
Then they would take a few trucks of kerosene and go to some stadia
to share to the poor.
Chai!
But what about the big marketers?
The Big marketers took the kerosene outside bar,
Moved to Offshore Lome or Cotonou
Convert the Kerosene to Jet A1 and sold to West African countries
Let's do the maths.
No! that maths will damage my calculator.
Chai!
But what about the big marketers?
The Big marketers took the kerosene outside bar,
Moved to Offshore Lome or Cotonou
Convert the Kerosene to Jet A1 and sold to West African countries
Let's do the maths.
No! that maths will damage my calculator.
These guys took government kerosene at one quarter of the price turned it to JET A1 and switch it into another vessel and brought it back in to sell in dollars to airlines.
The subsidy was madness.
The country way throwing away money like a hushcountry .
All those guys in DPR
The subsidy was madness.
The country way throwing away money like a hushcountry .
All those guys in DPR
and PPMC knew.
The Pepper was too much for them to remain saints.
The governments used these things to rase funds for elections.
Everybody was fvcking the poor in the interest of the poor.
Things have happened in this country.
And let me tell you.
Somethings are still
The Pepper was too much for them to remain saints.
The governments used these things to rase funds for elections.
Everybody was fvcking the poor in the interest of the poor.
Things have happened in this country.
And let me tell you.
Somethings are still
happening.
That is why total deregulation is what the poor man needs now.
I hear some poor people shouting,
Bring back our subsidy!
Phew!
The Bible is right,
My people perish for lack of knowledge.
We were subsidizing the entire west Africa with cheap petrol through our
That is why total deregulation is what the poor man needs now.
I hear some poor people shouting,
Bring back our subsidy!
Phew!
The Bible is right,
My people perish for lack of knowledge.
We were subsidizing the entire west Africa with cheap petrol through our
porous borders.
sometimes the queue of trucks at our northern borders heading to Burkina and Mali would stretch kilometers.
And boats were everywhere around badagary shipping petrol westward.
Nna make una forget that subsidy thing.
sometimes the queue of trucks at our northern borders heading to Burkina and Mali would stretch kilometers.
And boats were everywhere around badagary shipping petrol westward.
Nna make una forget that subsidy thing.
