#OccupyNigeria We Got It Wrong
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The current fuel scarcity is basically triggered by a dispute over the amount of money owed to Major Oil Marketers Association of Nigeria (MOMAN) by the Federal Government of Nigeria.
MOMAN claims the Federal Government owes them about 200 billion Naira while the Federal Government claims it is only about 131 billion Naira. At the end of the day I don’t think the government has the money to pay them whether 131 billion or 200 billion Naira because we have lost so much from the falling oil prices…
But this issue is not just about the falling Oil prices … it goes all the way back to 2012 when Nigeria joined the Arab Spring Uprising to protest fuel subsidy removal. Everyone with sense said it had to go … Sanusi Lamido Sanusi, Ngozi Okonjo-Iweala and others. But most Nigerians did not listen, we wanted our own Arab Spring by force so we protested and pushed for an unsustainable subsidy and that is what is killing us TODAY!
I mean we filled the streets of Lagos to keep fuel at a subsidized cost of 70 Naira per liter in 2012 but today we are sleeping in filling stations just to buy fuel at 490 Naira PLUS per liter! #irony
Now, if Buhari comes into power tomorrow and does SuperMan all day everyday but does not remove fuel subsidy we would be in the same situation as today. Because fuel subsidy ties up our budget (1.1 trillion naira spent on subsidy) and with that much money tied up, we don’t have ability/capacity to build or fix our refineries … And it is only when we have fully functional refineries that we can have a crack at implementing fuel subsidy. #fact
But its all politics at the end of the day, because APC and any sensible leader knows that we have to remove fuel subsidy to develop Nigeria. But the issue is how does APC pull it off without saying 2012 GEJ was right?
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