Thread by @yinkanubi

@OpenFundingNG @BudgITng @akorive001 @MatthewTPage The first thing to do is prioritize passage of the PIB. Because this bill provides the framework for the commercialization of the sector. Saying we'll not privatize or commercialize is not an option. We must make effort to make d sector more accountable, transparent & profitable.

@OpenFundingNG @BudgITng @akorive001 @MatthewTPage The Minister of Petroleum spoke about increasing our production capacity to over 4m bpd. Well that will cost somewhere between $25 – $30 billion. How is that going to happen if not from investment capital? #GrowthForAll

@OpenFundingNG @BudgITng @akorive001 @MatthewTPage Secondly, sell the refineries. We already started on the path to full privatization of the downstream sector since 2003, so let’s finish it. Today, the refineries are operating at 10% capacity and the hope of the govt for local refining is based on the expected output from...

@OpenFundingNG @BudgITng @akorive001 @MatthewTPage ..Dangote Refinery and Modular refineries which are 100% private initiatives.

Finally, deal with the corruption associated with parts of the sector. E.g. the Petroleum Equalisation Fund which is another form of subsidy. It's being reported that abt 90% of the trucks are diverted

@OpenFundingNG @BudgITng @akorive001 @MatthewTPage The evidence of this can’t be more pronounced than the fact that petrol is not being sold at same price all over the nation despite the PEF. So you either fix the PEF or stop it entirely. #GrowthForAll

@OpenFundingNG @BudgITng @akorive001 @MatthewTPage The project to #FixOurOil is daunting, but it is not insurmountable. It demands courage and political will to do the right thing but with a human face. What we cannot afford to do however is NOTHING.

Thanks for the privilege of sharing on your platform. #GrowthForAll

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