tag:blogger.com,1999:blog-3540911873094895295.post443336801091411950..comments2024-03-20T01:16:54.017+00:00Comments on Akin Akintayo: Editorial: Nigerian Government Dishonesty About Fuel SubsidyAkin Akintayohttp://www.blogger.com/profile/14254117443398207562noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-3540911873094895295.post-21724774064765195312011-10-16T01:53:33.267+01:002011-10-16T01:53:33.267+01:00I was never convinced by the plan to construct 3 b...I was never convinced by the plan to construct 3 brand new refineries without a proper analysis as to why other existing refineries are not functioning properly. That being the case we should not be surprised that the 3 new refineries also don't work as planned. Those who are responsible for sabotage will no doubt have their hands in the failure of this new venture. Lessons from the past have not been learned. Given that this is the only item of any significance that keeps the economy afloat, it should be addressed with the utmost urgency. No attempt should be spared to sort out the oil sector and put it on a sound path, and thereby secure the economy in the short-term.<br /><br />An outside observer, in fact the secretary of state for the United States noted that oil sector is being mishandled.<br /><br /><a href="http://allafrica.com/stories/200908100885.html" rel="nofollow"> Hillary Clinton's observation about the Nigerian government </a><br /><br />Nigerians seem to be apathetic about it's importance. <br /><br />During the last Obasanjo administration, the money saved from not having to service the foreign debt, was meant to be used to be build infrastructure, but that was not the case. So the intended the removal of oil subsidy, what guarantees that the money will go to where it is intended? If it is the same old public announcements, made by the government. Judging by past efforts that is no assurance.<br /><br />The whole thing smells of a rouse, to for those who have access to that sector to make large amounts of money illegally. It is schemes like this that are responsible for a net oil exporter and OPEC member, to be one of the few OPEC members who accept foreign aid.Akin Akintayohttps://www.blogger.com/profile/14254117443398207562noreply@blogger.comtag:blogger.com,1999:blog-3540911873094895295.post-3898136957840160832011-10-15T19:21:15.713+01:002011-10-15T19:21:15.713+01:00Dear Guest,
I suspect you failed to read and unde...Dear Guest,<br /><br />I suspect you failed to read and understand the points I raised in my blog. I was not essentially against removing the fuel subsidy but there are issued that needed addressing.<br /><br />These range from the indeterminate cost of the subsidy from $1.5bn (FG Budget), $4bn (Transparency Nigeria), $6bn (CBN estimate) & $9.6bn (New FG Projection).<br /><br />Then the matter of local refining capacity that is not being addressed which is the reason why the subsidy is quite an issue on to the lack of clarity as to the use of foreign countries to supply essential local requirements.<br /><br />Simply put, if you after reading my blog think is it about hysteria and resistance to change, we can agree that you are completely oblivious of the issue you have chosen to comment on.<br /><br />Thanks.Akin Akintayohttps://www.blogger.com/profile/14254117443398207562noreply@blogger.comtag:blogger.com,1999:blog-3540911873094895295.post-87769398262982552692011-10-15T11:58:52.552+01:002011-10-15T11:58:52.552+01:00Without going into dissecting ur piece, I'll j...Without going into dissecting ur piece, I'll just say we are too afraid of change, am glad this govt is finally doing what shld hv been done years ago, time for us all to buckle our belts. This sort of hysteria was postulated when commercial bikes were to be banned from Abuja city center, when diesel supply was thrown open to market forces etc, yet we survived, we'll survive this just fine too, i still dont know why we love a good panic in this country.Akin Akintayohttps://www.blogger.com/profile/14254117443398207562noreply@blogger.com