On #FreshlyPressed981 with @SopeMartins and @monsieurceee this morning, we'll be asking how the NNPC came to the conclusion that petrol will sell for ₦462/litre without the subsidy.
The NNPC is just involved in unnecessary fear-mongering.
Our neighbours, who are poorer, pay a lot more than we do for petrol. What I see in all this is people committed to maintaining their cushy subsidy scam going on.
Consider the attached chart, published in February.
As of February, based on the exchange rate, we were paying 40 cents per litre of petrol. In #Benin it was 95 cents, in #Niger it was 97 cents, in #Chad it was 89 cents, and in #Cameroun, it was $1.09.
If you have been to these countries (and the only one I've not been to is #Chad), you'd notice very quickly that in most cases, especially close to the border with #Nigeria, people don't buy petrol from petrol stations, but from the black market.
Why?
They buy from the black market because it is cheaper.
Why is it cheaper?
Because big brother #Nigeria is involved in a loss-making jamboree, and some smart chaps are able to get the petrol at $0.4 here and sell at $0.6.
In #Benin won't you buy cheaper fuel and save $0.35?
Heck, @Nun_River once photographed a chap rolling across the border in Adamawa State on his bicycle, with two kegs of petrol. He was going to sell.
Essentially, even the common man in the border towns is in on the action, and why wouldn't they?
It is logical, which brings us to the missing crude that the NNPC's boss said amounts to $14.6 billion per year. The best amount that Nigeria can make in a hypothetical scenario of 2 million bpd at $100 for a year is $73 billion.
This amount mentioned is exactly 20% of that. We know that #Nigeria produces just over half of that amount, so what these guys are implying is that about 50% of our oil production is stolen.
Then you consider that MV Heroic Idun scenario...
Let us refresh our memories: a 3 million barrel supertanker was in #Nigeria for days, and no one saw it. Do you see how all these scams are adding up?
Anyway, make I go hunt for my morning agbado...
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For all the flak that the Nigerian media gets, people tend to forget one crucial fact: they are products of their environment, working within that same environment.
Only a very few people in this life have the fortitude of Job.
The overwhelming majority of humanity, including me these days, would make the required compromise to just keep things moving.
One problem we have in #Nigeria is that we never interrogate these things. We must ask, "why"?
In the 1963 movie, Cleopatra, there was an interesting dialogue between Mark Anthony and Octavian, the man who would later become Augustus Caesar, the first emperor of Rome about the birth of Julius Caesar's son, Caesarion:
Mark Antony: "You were so shut at the mouth just now one would think your words were are precious to you as your gold."
Octavian: "Like my gold, I use them where they are worth most."
This is instructive...
Also instructive is that during his 19 years as chairman of the US Federal Reserve, Alan Greenspan did not give any interviews. Having taken over from the inflation-busting Paul Volcker, Greenspan knew that words from his position carried weight and so had to be used sparingly.
This tweet, and the reply, are both hilarious and sad at the same time. I normally don't engage such nonsense, but herein lies a teachable moment, so let's go.
First, in a thread of 5 tweets, it's the single one that pointed out the flaw in the strategy of the victims you saw.
It says a lot about your ability to assess multiple streams of information at the same time, and as important, it speaks to your emotional state.
Basically, you're looking for affirmation, so anything that runs contrary to what you'd like to hear, can only be from an "enemy".
Which is fair at an individual level, but when an entire group begins to act in this manner and expects the results to be favourable, one can only wonder...
The report was adopted, and INEC promised to do better. bit.ly/3aIxnp4
Having pointed out all of this, we must come to terms with the flaws in our system and figure out ways around them.
@inecnigeria has started CVR. There's really no reason why we should be doing lastminute.com voter reg and creating choke points politicians can exploit.
One of the best pieces written about #Nigeria's Igbo problem by a non-Igbo person was recently republished by @DavidHundeyin in his @BusinessDayNg column.
Reading both articles, no one should be surprised about the almost visceral reaction to my tweet from a few days ago in which I quoted something that Chinua Achebe wrote in 1983.
The interesting thing is that if all the people making noises about "victim mentality" and "bigotry" and "disunity" had bothered to look at the tweet just before that, they'd have realised that my tweet was actually addressed to my own people...