Thread by @Aikoges

Fuel consumption figures unbelievable
—Lamido Sanusi

A former governor of the Central Bank of Nigeria, Lamido Sanusi, has said the claim by the Nigerian National Petroleum Company that Nigeria consumes 66 million litres of fuel daily is simply “unbelievable.”

Sanusi queried the supposed volume of Nigeria’s daily consumption of petrol. We need to do a high standard audit of every penny spent on the NNPC.
He said, “In 2019, officially we were importing 40 million litres per day. In 2022 officially, we were importing 66 million per day.

In three years, we have increased our petrol consumption by 50%.

Please tell me, is it the population? Is it the number of cars? Just ask yourself if it makes sense that in three years you increase your consumption of petrol by 50%. Are we drinking petrol?

“The NNPC says we are consuming 66 million litres per day, so we are consuming more than Indonesia, Pakistan, Egypt, Cote d’Ivoire and others.
“We need to ask NNPC to document and bring evidence for every dollar they took as subsidy.

They must give the ships that came and we can verify from the insurance companies if those ships were in Nigeria on those dates.

“That is what the law says. There must be proof that the product came in, at the price you said you bought it, before you pay subsidy,” he added.

He further stated that with the current state of the economy, it would not be easy to fix.
lamenting the current hardship Nigerians are facing &said until the government is transparent & credible towards the citizens, it has no right to impose such hardship on the citizenry.

He said, “Until we bring credibility and transparency to the management of public finance, no government has the moral right to impose hardship on Nigerians. They have suffered enough.

You cannot with this level of debt service, collapse in revenue and poverty overturn things just like that. We have to take corrective decisions and first close out inflated and false numbers.Nigeria needs a leader who understands the economy.