Some economists claim that you can predict the economy of a nation by counting the number of people idling around at motor parks and airports.
There are all kinds of touts outnumbering the ones that are employed. They are so busy collecting money and extorting people. People who are so busy doing nothing but wasting in idleness and laziness and ironically, those next to them are the National Officers of the Road Safety Marshalls, Yellow Fever, Police, Military, Vehicle Inspection Officers and so on, harassing motorists just to extort money from them for little or no traffic infractions.
Subsidy is at 4 trillion and you are earning 7 trillion, it is obvious that the subsidy is higher than the budget and earnings. The justification to go on with the subsidy is explained with the story that people will suffer if the subsidy is removed. The CBN has failed in its duty to ensure the monetary policy works. The CBN has abandoned its responsibility for monetary …… The people are suffering much more now.
Why has the subsidy solution been abandoned? So also are the three refineries in Nigeria, the activation of which must be an integral part of dealing with this unsupportable subsidy? Is the subsidy regime not surviving because it provides incredible wealth to the unsatisfiable piranhas along the food chain of oil? Today the conventional wisdom is that 80% of our oil is stolen. Shell has just warned that the oil industry is in danger of collapse.
Does the government not understand that people should be employed gainfully to occupy these buildings? Can anyone imagine the GDP of Nigeria if these buildings were functional? They buy it and they abandon it. Can anyone imagine how much money had been spent on these buildings and ridiculous amount they had been purchased for, yet abandoned.
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