The hazy way the Nigerian economy looks these days is suggestive of not just the presence but the stranglehold of an economic mafia in control of economic policies and implementation. It is a shadow but powerful government. The mafia seems to have turned the ministers into onlookers or at best, announcers of the mafia’s policy bulletin.
For instance, the Minister of State for Petroleum cannot tell us exactly the quantity of petrol Nigerians consume daily. Thus, when the mafia group gave a fuel consumption figure of almost 70 million litres a day, there was no grumble from the government when it is very clear that most industries, Ministries, Departments and Agencies and housing estates use diesel-powered generators. Petrol is not used for commercial but household activities.
The Central Bank of Nigeria continues to tell us there are enough new currencies with the banks but banks still dispense new and old notes in many of their automated teller machines and sometime only two out of five such ATMs are dispensing due to shortage of any type of currency. The new currencies are already being sprayed at elite parties unhindered.
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