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Sunday, January 1, 2012


This is the most sensitive government Nigeria and Nigerians have ever had, don't you just think? In a country where the take home salary of the average man , would not even reach home the day he collects, one of the 1st thing that has been given the citizenry as a new year present is the increase in the cost of fuel. The so called subsidy has been removed now, so Nigerians can go jump off the 3rd mainland. That's not all, having a car itself has now become a major burden, it has now become one of the common denominators of wealth- by the time we pay #35,000 for the incompetence of the government ( government agency) we would have entered totally into debt, because how much is the car itself, that one would first buy fuel for #150 per liter, pay # 35,000 for registration and if you are living around the Lekki Area in a month another #30,000 at least, PHCN is still there ooooo, and you still have to buy either Diesel or Petrol for the generator. All this does not include School fees, feeding etc.

And we are been squeezed to death daily to pay taxes so that the government and its officials would steal us dry and have the best of time at our expense. The astronomical pay the people in government collect as salaries and estacode(s) and all is so mind-boggling it’s crazy! When would the subsidy on everything government be removed? Very soon tax on breathing might soon be introduced ooooo.

The government in trying to justify the removal of the oil subsidy came up with various excuses, which many have said does not hold water. Or how else could a former Minister of Petroleum in this same country-Professor Tam David-West come up with the following calculations- debunking the so called nonsense talk about subsidy.

(1) One barrel of Crude oil = 42gallons or
159 liters

... 2) Our Refineries (i.e. 4) Installed
(combined) capacity = 445,000
... barrels per day

3) Actual refineries capacity due to
ageing equipment = 30% i.e. 133,500
barrels per day
4). . 133,500 barrels = 21.2 million liters

5) Local required consumption (F.O.S) =
12millions liters

6) It means that even our MORIBOND
refineries can actually meet our local
consumption need of petroleum.

7) The cost structure of crude oil (i.e.
Qua Iboe Crude Oil) production;
- Findings / development - $3.5
- Production cost - $1.5
- Refining Cost - $12.6
- Pipeline/transportation - $1.5
- Distribution/bridging fund Margin -$15.69

8) True cost of one liter of petroleum
anywhere in Nigeria;
- Total sum cost = $34.8
- 1ltr cost = $34.8/159 liters = $0.219
- Naira equivalent. 0.219xN160= N35.02k
- Add Tax N5 + N35.02 = N40.02

9) Let FGN refute the above composition
and if not, they should tell us how
they came about N65/liter.

10) Locally refined products cannot be
sold at International price.

11) We really do not need FGN SUBSIDY
as there was NONE in the first place.

12) What is LACKING, is the WILL to

If the above is TRUE, then who is lying to the country? Who is the enemy of the country that wants to plunge us into total poverty and destitution? The most dangerous thing in the country would be when learned; well trained men and women would resort to robbery as a job option. It is has if the government of the day does not even have a solution to the minutest of things. What’s going on?

ASUU is on strike, PHCN (NEPA) tariff has been increased, Kerosene is scarce, Insecurity is prevalent and everything is crazily expensive. Then our great government in keeping true to its agenda to wound all drops the bomb! - THE FUEL INCREASE! How more loving and sensitive can one be!

1 comment:

Anonymous said...

You can certainly see your enthusiasm in the work you write. The arena hopes for more passionate writers like you who are not afraid to say how they believe. At all times go after your heart.
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