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Congratulations on your swearing-in, and congratulations on your first volcanic variolitic variolite statement indicating the removal of fuel subsidy, indeed this is a bomb that will tip the scale for Nigerians, either positively or negatively.
I must say “WHY”!
- Why now and why not waits to feel, understand, grasp, take hold, and comprehend the magnitude with which the effect of that singular statement, will do to the economy of Nigeria, and Nigerians?
- Why not consider the macro and micro – main and sub-economic blaze the removal of subsidy will do to Nigeria, and Nigerians?
- Why not practice “Structured Removal”?
- And why not allow for far-reaching consultations with “Market Forces” before removing the fuel subsidy, why not put into consideration the adverse effect of your decision rather than the executive pronouncement that you made on 29th May, 20233?
How come to your foot soldiers did not advise as follows:
- How to put in place “Granularly Structured Fuel Subsidy Removal”.
- How come your statement was written to be read by you without recourse to professional advice?
- How come market forces and dear Nigerians were not considered.
And “WHEN” do you think these “Épreuves” will sail away without a fight from the Nigerian people, and Market Forces?
Mr. President, as a Nigerian, I will advise via open letters, until the right things are done. Consciencely there is a need for you to “STAY ACTION” on your choice of “Subsidy Removal”, rather subsidy removal should follow the following framework:
- Plan and Apply for a “Bridge Budget” for the next 4 years, in the form(s) of
- a) 2023 – “Bridge Budget” to accommodate subsidy till December 2023.
- b) Increase fuel to 250/L from June 3rd, 2023, until 1st December 2023.
- c) Present another “Bridge Budget” for 2024, then increase fuel for 300/L
- d) Present another “Bridge Budget” for 2025 but purchase a further share on behalf of Nigerians in the Dangote refinery with a firm commitment that Nigerians and stable cost of sales of fuel to Nigerians is guaranteed.
- The Nigerian Refineries should undergo the following phase:
- a) The Kaduna Refinery should be through BPP and ICRC using P3 (Public, Private Partnership), sold to buyers with International foreign partners.
- b) Ensure States are given minimal shares, and Market Forces are given opportunities to own shares while driving the rehabilitation processes of the refinery.
- c) Repeat this for Warri, and Port Harcourt, and we will all see fuel drop to 60/L and therefore exporting to other African countries.
- Action the following international dimension to NNPCo Downstream Filling Station by:
- a) 1st Round Expansion of NNPCo Filling Station – West African Countries
- b) 2nd Round Expansion of NNPCo Filling Station – East African Countries
- c) 3rd Round Expansion of NNPCo Filling Station – Central African Countries
- d) 4th Round Expansion of NNPCo Filling Station – Southern African Countries
- Founding for the NNPCo will achieve using P3 (Public, Private, Partnerships) within Nigerians, Interested Investors, Banks, CBN, NEXIB Bank, Alliances of Nigerian Banks, IPMAN, and Market Forces, therefore allowing the NNPCo to attract an international dimension to its investors, and Nigerians.
Mr. President all the above are doable if the “Right Framework and Financial Strategy” are adopted, and with the above, Nigeria, and Nigerians, will become a net exporter of refined products, therefore amounting to National wellness.
Just imagine what the above will do for our economy and GDP.
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Dear President Bola Ahmed Tinubu don’t sail, bleeding with red blood inside shark-infested water, they show no mercy, and once they smell blood.
Sir, French people will always say “sois sage”.
Yours Truly!
