Who is fooling who in this country Nigeria? We are expecting a thief to probe a thief, a rogue to jail rogue’s?
As the cost of petrol is scheduled to go up even further today to N600 per litre we take another hard look at the fraudulent subsidy charade.
The program was designed such that none of the parties to the agreement pay a kobo to one another. I give you crude, you give me fuel. However, the thieves of Nigeria assets used the arrangement as a pretense to make money. And it was actually designed to steal money in many ways.First, they kill all the Nigerian refineries, and make sure it stays dead. Then they created an urgency with a blank-check to import fuel, and so the following occurs.
1. By claiming a subsidy that never was but was budgeted for annually.
2. By sharing the proceeds and profits arriving from the byproducts outside of the required PMS with the consortia, because the consortia must have a Nigerian company (MARKETERS) as a local partner to qualify for DSDP. And once the byproduct is monetized it’s shared between the marketer and the consortia. 3. They also pocket all other money they are able to extract from the federal government. Such as landing cost, demurrage, storage etc. And nnpc oversees all this process.
It is customary to use any call of duty to serve the Nigerian people as a free blanket to steal, and use that call to enrich. So in this case, all this money flows to all the political elite up and down the government leaderships while the people suffer.
A look back at the Buhari Regime