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I came across some old tweets of mine from two years ago on fuel and why can't this government just fully deregulate that sector and just take it's hands of it. Government especially Nigerian government is not cut out to run profitable organisations https://twitter.com/AishaYesufu/status/686640212554956800
Getting a government contract is amongst the most lucrative business there is Return On Investment is quite high so also the risk. The person can be removed and your money is hooked for the next 30 years.
Government contracts have made many and ruined many
Government contracts have made many and ruined many
Can't we just say ENOUGH?
What I am trying to say is that for example it's perfectly normal for a government agency to ask you to purchase something and Mark it up by 30% as your profit (legally). Tell me how would that agency compete to make a profit?
The contracts that NNPC would give and the margin the contractor would make if it was a private refinery the contractor won't make so much profit. They would negotiate it down. So how can NNPC make any profit?
If Nigeria want it can keep it's refineries as Museums. Allow investors free hand to import and market to sell as they want with no restriction and subsidy. Competition would force them to bring price down and in no time they would start building their own refineries.
