Wednesday, December 23, 2015

Challenges Awaiting Kogi Governor-Elect, Bello

By A. S. M. Jimoh
The Kogi state gubernatorial election has come and gone, but the controversy that trailed it has refused to die. The whole scenario of the election has taught us important lessons. It has shown that power truly belongs to God, a cliché often use by our politician but never live by it. Secondly, our effort alone can never earn us our goal. We need a touch of the Divine.






*Yahaya Bello
While there are losses, angers, victories and jubilations, the man who smiles most is one young Alhaji Yahaya Bello, born approximately forty years ago. Following the death of Alhaji Audu Abubakar, him being the runner-up in the primary was picked by the party through constitutional provision to be Audu’s replacement. He is now the Governor-elect. If Allah wills, he will take the mantle of leadership of Kogi state on the 27th of January 2016.
Because of the triviality and complexity that surround Kogi politics, he will be navigating a very turbulent water. He will be faced by ethnic distrust and a comatose state with nothing to show in term of infrastructure and other indices of development. Nevertheless, if he has the mettle, he will sail through the troubled water to safety unscathed. For a man who deployed enormous resources to campaign, make promises, went to primary and finally winning the governorship, it is assumed that he has the vision to lead the state out of its current direction to an intensive care unit. But recent history has shown that many our politicians only invest in campaign, make promises, pretend a vision and when he/she wins, he/she turns out to be worse than a highway armed-robber and a pillaging army. Alhaji Yahaya Bello must show he is different.

Justice For The Living, Justice For The Dead


By Owei Lakemfa

 Human history is replete with instances of the people getting fed up with official policies and taking on the government. Monday January 9, 2012 was one of those days when the Nigerian people in anger, decided to shut down the country. The populace succeeded in taking over the towns and cities across the country of over 167 million people, but there were desperate efforts to retake the streets. One of them occurred in Ogba, a suburb of Ikeja, the Lagos State capital.

One of the two busiest and longest streets in the area is Yahaya Abatan. But on this day, like in other parts of Lagos, the street was completely deserted with shops and businesses closed and zero vehicular traffic. On a stretch of this road, youths played football with some spectators on the side line, while a few people gathered beside a newspaper vendor reading newspapers and discussing events in the country.

Suddenly, a police van RRS 101A arrived the scene. The police team was led by Chief Superintendent of Police, Mr. Segun Fabunmi the then Divisional Police Officer (DPO) of Pen Cinema Police Station. Mr. Fabunmi with a 28-year experience in the police, ordered the youths to stop playing football and disperse. They took it for a joke since they were not demonstrating or hindering anybody from moving about. One of the spectators watching the match, 28-year old Demola Abiodun Aderintola Daramola, a tailor and commercial motorcycle rider jokingly told the police officer to leave the youths alone.

Junaid Mohammed’s Hate-Rhetoric

By John Otu
The interview published in the Sunday Sun newspapers of December 13, 2015, of Dr. Junaid Mohammed, convener of the Coalition of Northern Politicians, Academics, Professionals and Businessmen, rankled in its sweeping generalization about the current agitations by members of the Indigenous People of Biafra (IPOB) and segments of the Movement for the Actualization of Sovereign State of Biafra (MASSOB). As I write, before me is Alvan Ewuzie’s mature rejoinder in Daily Sun of Thursday, Dec. 17, 2015 to Junaid’s tirade. Ewuzie’s thoughtful response to Junaid would have sufficed, as it addressed the highlights of Dr. Junaid’s irreverent remarks but a few more issues arising from the notorious interview need to be elaborated upon.
*Junaid Mohammed 
From his hasty conclusions and uncouth language, Junaid betrays his ignorance of Ndigbo and Nigeria’s political history. For him, Ndigbo are a conquered people who should ‘submit themselves’ to the superior race, as it were. Any action displayed by the agitators is thus adjudged by him as typical of Ndigbo. He says rather in an inductive leap, “Showing an open nepotism in what they do is their stock-in-trade. So people then say, “Look we are not going to have these Igbo people as leaders because their nepotism is absolutely intolerable.”
Our self-appointed convener is not done. He passes a peremptory judgment on the Igbo, threatening to report them to President Buhari to withdraw whatever miserable attention he has paid to them, “So if they continue to be unreasonable in this case insisting on getting some key positions or telling Buhari how to run the government, then he needs to take the right step by confronting them…”
My immediate reaction on reading Junaid was to question his claims to lofty pedigree and education.

Tuesday, December 22, 2015

Fuel Scarcity: Swallow Your Pride And Accept Responsibility - Ben Murray-Bruce Tells FG


*Senator Ben Murray-Bruce 

As fuel scarcity worsens in Nigeria despite all efforts (including securing an approval from the National Assembly to pay subsidies) by the President Muhammadu Buhari regime to arrest it, Information Minister, Mr. Lai Mohammed, came out to blame the previous administration of Dr. Goodluck Jonathan for the problem. But Senator Ben Murray-Bruce from Bayelsa State thinks that is very ridiculous. He sent out the following tweets...



Buhari’s Budget A Big Fraud - PDP

…Says President Planning To Mortgage Nigeria’s Future
                   Press Statement
The Peoples Democratic Party (PDP) describes the N6.8 trillion 2016 federal budget presented by President Muhammadu Buhari on Tuesday as a big fraud and executive conspiracy tailored towards mortgaging the future of the nation.
The party queried President Buhari’s decision to borrow N2 trillion, the biggest in the history of the nation as the height of recklessness and deceit from a government that trends on propaganda.

The PDP in a statement by its National Publicity Secretary, Chief Olisa Metuh on Tuesday berated the Federal Government for trying to use their bogus welfare programme and phantom capital projects as cover and conduit to syphon the funds to satisfy partisan interests, particularly to settle huge campaign debts.
“It is obvious that this budget is an extension of the campaign promises of the APC government, presented as a manifesto filled with bogus promises which implementation will be inconclusive, thereby allowing the APC to once again deny their promises.
“There has never been any known economy in the world where government deliberately mortgage the future of its nation by borrowing excessively to finance partisan interests while hiding under bogus welfare programmes. This is moreso important as the APC in reeling out their bogus campaign promises never informed Nigerians that they would mortgage their future through excessive borrowing.

Grace Has Replaced Robert Mugabe – Tsvangirai














Zimbabwe’s aging President Robert Mugabe has been “surreptitiously but willingly” replaced by his wife Grace, opposition leader Morgan Tsvangirai claimed Monday.
  Grace Mugabe, 50, had taken over in a “palace coup” and no one in government was doing anything about the country’s crisis, the Movement for Democratic Change (MDC) leader said in an end-of-year message. “No one in government is thinking of solutions to the national challenges as everyone is preoccupied with issues of who will succeed this tired man steering the ship of State,” he said.
  “There is no boldness to confront the national crisis; what with an aged president and everyone around him fighting to succeed him,” Tsvangirai added, highlighting Zimbabwe’s growing unemployment and hunger.

Lai Mohammed Lied On Fuel Scarcity

By Reno Omokri
 Dear Honourable Minister Lai Mohammed, Greetings and congratulations on your recent and well deserved appointment as Nigeria's Minister of Information. You may recall that we met on the set of 'Politics Today' in May of 2011 soon after I was interviewed by Deji Bademosi and just before you were interviewed.
















*Lai Mohammed 
The purpose of my letter to you today is in response to your statement made on Monday the 21st of December, 2015, in which you accused former President Goodluck Jonathan, whom I served as one of three spokesmen, of being responsible for the current excruciating fuel scarcity now subsisting in Nigeria.

Your exact words were "What I will be telling Nigerians is that what we met on ground is such that we are paying for the sins of the last administration...One of the reasons for the fuel scarcity was the inability of the last government to make adequate provision for fuel subsidy".

My candid take on your message to Nigerians is that it is an abdication of responsibility on your part and does not project you and the government you represent as being responsible. Government, as you very well know, is a continuum. One government takes over from where the other stopped and to say that an action in December of 2015 (six months after ex President Jonathan handed over to the incumbent on May 29th, 2015, ) is the fault of the last President, is to confer super human powers on Jonathan.

Dasukigate: The Vindication of Okonjo-Iweala

By Ikeogu Oke

A French proverb – wise as all proverbs are – says, “For desperate ills desperate remedies.” Those who have found fault with Dr. Ngozi Okonjo-Iweala “for the transfer of US$300 million and British Pounds £5.5 million of the recovered Abacha funds to an ONSA operation account” (in what amounts to a move in support of the war against the Boko Haram terrorist group) may not be familiar with this proverb and its implication that there are certain problems that arise in the affairs of humans and nations which reasonable people unanimously agree on the rightness of ignoring convention in solving them.

















*Okonjo-Iweala
Take, for instance, the tactics adopted by the United States in fighting terror post 9/11. It involved the torture of suspects at the facility in Guantanamo Bay by the procedure known as waterboarding, etc., but ultimately yielded information leading to the discovery of Osama bin Laden in his secret hideout in Pakistan.
We know that torture breaches the convention of respect for the dignity of suspects. We know what happened to Osama bin Laden in his encounter with the US Navy Seals, though the convention is not to punish – let alone liquidate – an accused person without trial. We also know that that final encounter with bin Laden involved an “unconventional” violation of the territorial integrity and airspace of his host nation. But more importantly, there was a general consensus that America faced such a desperate threat from terror that it was understandable that it took such desperate measures in dealing with it, hence such breaches of convention were generally regarded as insignificant – and justified – in light of the overriding need to find a remedy for the desperate ill of a terrorist threat which compares to Boko Haram in today’s Nigeria.
And the grouse of the critics of Okonjo-Iweala, for which they have asked President Buhari to order her arrest and prosecution, is that she – they allege – disbursed the said funds in a manner that violated convention, given that the funds should have been appropriated through Senate approval before their disbursement.

Monday, December 21, 2015

Nigeria: Electricity Tariff Increased, Fixed Charges Removed

PRESS RELEASE

New Tariff Regime Removes Fixed Charges

The new electricity tariff regime approved over the weekend by the Nigerian Electricity Regulatory Commission (NERC) has removed fixed charges for all classes of electricity consumers. Henceforth, from the next billing period, distribution companies will no longer charge their customers monthly fixed charges. Fixed charge is that component of the tariff that commits electricity consumers to paying an approved amount of money not minding whether electricity is consumed during the billing period.











*Amadi 
Under the new tariff regime, electricity consumers will now only pay for what they consume from month to month. According to the Chairman/CEO of NERC, Dr. Sam Amadi, "This is good news for electricity consumers who have long asked for a more just and fair pricing of electricity. The regulatory commission had promised to address all the complaints against fixed charges through a regulatory process that promotes investments in the electricity industry without unfairly burdening electricity consumers. This is in line with NERC's mandate to be fair in all its regulatory interventions".
Although, the new tariff regime comes with an increase in energy charges, all electricity consumers (residential as well as commercial) will no longer pay fixed charges. Their total bills will depend on the electricity they actually consume and may be reduced when they conserve electricity. Consumers will no longer be spending money every month to pay for fixed charges even when they do not receive electricity in their homes and business.
According to the chairman of NERC, "The objective of the new tariff is to enable prudent consumers to save money on electricity bill as they can now control their consumption and not pay monthly fixed charges".

Terrorism Has Become Very Sophisticated Now – Buhari

President Muhammadu Buhari said Monday in Abuja that his administration was taking urgent and appropriate actions to restore order, due process and probity to the procurement processes of the nation's Armed Forces.

Speaking at a meeting with the British Secretary of State for Defence, Mr. Michael Fallon, President Buhari lamented that the procurement of equipment for Nigeria's Armed Forces which followed due process in the past, had become open to corruption and shady deals under the last administration.

"They just put foreign exchange in a briefcase and traveled to procure equipment for the military. That is why we have found ourselves in the crisis we are now facing,” the President said.

Welcoming the offer by the British Government to assist Nigeria in defence procurements, intelligence gathering and training, President Buhari restated his conviction that the international community must collaborate more and work with greater unity of purpose to overcome global terrorism.

“Terrorism has become very sophisticated now. If developed nations can be attacked, and hundreds of lives lost, how much more developing countries? 

"In the West African sub-region, Nigeria is the main battleground of the Boko Haram insurgency. We have made a lot of progress against the terrorists, but we will welcome more assistance from our friends and the international community," the President told Mr. Fallon.

Mr. Fallon said he was in the country to see what more Britain could do to support Nigeria in battling terrorism and violent extremism.
"Groups like Boko Haram don’t believe in democracy and freedom of choice, so it’s a common fight for us all,” he told President Buhari.
Femi Adesina
Special Adviser to the President
(Media & Publicity)
December 21, 2015


2015 – A Year Of Power Reform In Nigeria

With the change of government from Peoples Democratic Party (PDP) to All Progressives Congress (APC) and the attendant hand over of Aso Rock to President Muhammadu Buhari, 2015 indeed marked a turning point in the history of Nigeria’s power sector. Idowu Oyebanjo writes



















Buhari and Jonathan 
On May 29 2015, the PDP led government of former president Goodluck Jonathan in a show of unprecedented statesmanship in the history of Nigeria, handed over power to an APC government led by Former Military Head of State, General Muhammad Buhari (GMB). A key slogan in the months leading to this change of government is the "change" mantra. Although it was a change in political power, it equally meant a change for the electrical power system in Nigeria. From the start, the fear of Buhari gripped the agents of the "demons" holding back the country from seeing light. Suddenly, the four refineries of NNPC which have been undergoing turn around maintenance (TAM) for the last 40 years unstopped began to function, providing gas for the starved thermal power plants around the country. For the first time in the distant many years, Nigerians who are connected to the power grid felt the impact of electricity as power generation reached an all time high of 4.68GW. This was sustained for a time. The foot soldiers of the enemies then started a campaign of idiocy that the changes were due to the works done by the previous government. Nigerians are no fools and amongst the most intelligent people in the world, Nigerians rank atop.

Armsgate: The SUN Newspaper Returns N9million

 PRESS RELEASE 

NPAN And N120 Million Compensation: 
Our Position 

The Man­agement of The Sun Publishing Limited has considered the public outcry and diverse controversies generated among media hous­es, the Newspaper Proprietors Association of Nigeria (NPAN) and the public over the N120 million paid by the Goodluck Jonathan administration as compensation to newspa­per companies for the unlawful seizure of their newspapers and stoppage of circulation by armed soldiers in several cities across the country in June 2014.

1.                  After the unlawful action of the military, to which The Sun lost millions of naira, we had signified the intention to commence liti­gation against the Federal Government along with other affected newspaper companies.
2. However, at the level of the NPAN, which The Sun is a member, a de­cision was collectively taken to accept the Presi­dency’s offer of peace­ful settlement in place of litigation in the interest of peace and national se­curity.
2.                We were later in­formed of the payment of N120 million compensa­tion out of which the sum of N9 million was paid to The Sun Management by the NPAN.
3.                At the time the com­pensation was paid, we had no inkling whatso­ever under which expen­diture sub-head in the Presidency the fund was sourced and that it was al­legedly part of the funds meant for the purchase of arms.
4.                As a very responsible newspaper organization, which places premium on ethics, individual and cor­porate integrity, we are certainly embarrassed by the turn of events and the unfortunate insinuation of involvement in the illegal sharing of the nation’s commonwealth and the feasting on the blood of soldiers fighting the war against insurgency.

Saturday, December 19, 2015

Nigeria: A Government Of Sadists!

By Femi Fani-Kayode

On the night of 12th December 2015 in the city of Zaria, Kaduna state, Sheik El Zakzaky, the leader of the 10 million-strong Shia muslim community in Nigeria, was shot, brutalized and dumped in a wheelbarrow. He barely escaped with his life but sadly, according to Iranian government sources and the New York Times, his wife, two of his sons and no less than one thousand of his shia muslim followers were not so lucky.


















*Femi-Fani-Kayode 

They were massacred in the sanctity of their homes that night by members of the Nigerian Armed Forces. Up until the time that I am writing this essay not one word of regret or remorse has been expressed by President Muhammadu Buhari, the Nigerian Armed Forces or the Federal Government about the whole incident.

That alone speaks volumes but what is more important to note is the fact that this is one of the most brutal and callous events in the history of our country. It was premeditated, well-planned, well-orchestrated and well-executed. Homes were bombed and burnt to the ground and innocent and defenseless men, women and children were slaughtered in an unrelenting frenzy of violence.

 After the carnage the bodies of the victims were left in the compound of the houses and in the streets and gutters for carrion birds to feed on and for street urchins and petty thieves to rob. This was indeed a sordid and shameful chapter: it was not only mass murder but it was also a crime against humanity. Those that were murdered were targeted simply because they were Shia Muslims and simply because, earlier in the day, some of them had mounted a road block which obstructed the convoy of the General Burutai, the Chief of Army Staff.

It is very clear that by this act alone the Chief of Army Staff, under whose orders these men were acting, President Muhammadu Buhari, who is the Commander-in-Chief of our Armed Forces, and every single officer and soldier that took part in the massacre are guilty of war crimes and crimes against humanity and are therefore candidates for the International Criminal Court at the Hague. Our leaders must be accountable and it is my fervent prayer and desire that the whole matter ends up there and that both Buhari and Burutai are called to justice.

Friday, December 18, 2015

Buhari, APC Spent Corruptly Sourced Billions Of Naira For Campaign

Press Statement
*Buhari
Buhari’s $300,000 Saga: We Have Been Vindicated- PDP….Insists On Truth Commission
The Peoples Democratic Party (PDP) says the denial by President Muhammadu Buhari on the alleged benefiting from funds relating to the arms deal scandal, and the consequent controversy trailing it underscores the need for a more neutral and transparent body like an independent National Truth Commission to examine all issues relating to handling of security votes and campaign funding without interferences from the government.
The PDP in a statement by its National Publicity Secretary, Chief Olisa Metuh on Wednesday said the leak that President Buhari benefited from the office of the former National Security Adviser against the convention of dealing with the office of the SGF also stresses the fact that the war against corruption should be holistic, transparent and not politicized. 








“We challenge this administration to a no-holds-barred public inquisition on all issues of security votes and campaign expenses. This is more so as we have evidence that President Buhari and the APC budgeted and spent billons of naira corruptly sourced for their Presidential campaign, in addition to on-going sleazes in the system under the APC government.

As Nigerians Mourn, Buhari Celebrates...

President Buhari must have his party despite the excruciating hardship in the land 













*Joined by family and associates, including Gov 
Rochas Okorocha and Rotimi Amaechi, Buhari 
savours his 73rd Birthday Party 

President Muhammadu Buhari’s wife, Aisha, hosted an impressive dinner party at the State House yesterday, December 17, 2015, to mark her husband’s 73rd Birthday. Observers are wondering how a president under whom Nigerians are experiencing one of the worst economic conditions in the country’s history can muster the presence of mind to have such a party and even plaster the social media with pictures from it – where they are celebrating and laughing as if they have no care in the world.

Thursday, December 17, 2015

Nigeria: O Justice, Where Are You?

By Chibiko Nwakaudu
I have watched the judicial terrain as regards the electoral jurisprudence with trepidation and grave concern. This era is without doubt the worst for those seeking justice in the several electoral matters that have been brought to the tribunals and some of the superior courts.

I must make this clarification early. I am not a lawyer. I am just a right-thinking member of the Nigerian Community who has been dismayed by the happenings in the hitherto temple of justice. I further declare that the views here are my personal observations and conclusions, based on my interpretation of the ugly situation in the country.
Indeed, anyone who is a close observer of the nation’s judicial system since May 29, would agree that the delivery of justice is facing un-mitigated challenge and interference from external quarters. The aim of the interferences are targeted at manipulating the justice system to favour the political party at the centre, the APC.
Therefore, we have a situation where different tribunals and appellate courts deliver judgments on the platforms of the political affiliation of the affected litigants. In other words, the relevant laws, especially the constitution and the Electoral Act count for nothing. The judgments being churned out are mere political essays, but backed by the force of law because those reading the essays wear judicial robes and are constituted by the relevant judicial authorities.
Otherwise, these judgments on electoral matters, so far, are merely akin to the permutations of the chairmen of town unions. You know town union chairmen pass their rulings under the guidance of the powerful members of the unions, who would have instructed them to do so. Though these town unions have by-laws, they are hardly referred to.

President Buhari's 73rd Birthday Cakes













Beautiful (And Obviously Very Expensive) Birthday Cakes 
For President Muhammadu Buhari As Nigerians Endure What Could Safely Be Described As The Worst Economic Condition In Their Country's History... 

Global Climate Change – What Nigeria Must Do (1)

By Idowu Oyebanjo 
 The Federal Government of Nigeria must begin to look at the potential opportunities for Nigeria to derive maximum benefits from the outcomes of the on-going COP 21 United Nations Framework Climate Change Convention (UNFCCC) in Le Bourget, Paris. To achieve an optimum benefit for Nigeria, not only is it imperative that policy makers fully understand the social, economic, environmental, financial, technological and political issues around the subject, but the generality of Nigerians need to be widely aware of changes in the global village they live in especially in the way energy is to be viewed in the wider world around going forward. As the subject of Climate Change is somewhat technical, it may suffice to give a background on the subject before driving us through to the point we have reached so far. This is what these series of articles on the subject will try to achieve.

(pix: phys)


Early contributors to climate change include Fourier, Langley and Arrhenius. That the climate is changing is not contestable but what is being argued over the years borders on the main causes of climate change. Climate change is made possible by the increase in the atmospheric concentration of Green House Gases (GHG) such as Carbon IV Oxide (CO2), Nitrous Oxide (NO2), Methane (CH4), Hydrofluorocarbon (HFC), Perfluorocarbon (PFC), and Sulfurhexafluoride (SF6). All these gases absorb terrestrial infra red radiations.

Tuesday, December 15, 2015

Corruption And The Rules Of Engagement

By Chuks Iloegbunam

The fight against cor­ruption has been dominating national discourse since the inception of the Buhari ad­ministration. The Rules of Engagement of the Nige­rian Armed Forces recently weighed in as a topic for de­bate. Discussions on corrup­tion have remained central for two reasons: Candidate Buhari indexed his presiden­tial campaign on it. And it is the one topic President Buhari seizes every opportunity to declaim impassioned commit­ment.














*President Buhari

At the annual Osigwe Anyiam-Osigwe Foundation Lecture in Abuja last week, he was at his sanctimonious best: “Without our collective will to resist corrupt acts as a people, it will be difficult to win the war. Nigeria has been brought almost to her knees by decades of corruption and mismanagement of the public treasury. We must come to a point when we must all collec­tively say ‘Enough is Enough.’”

Unfortunately, the Presi­dent’s anti-corruption rheto­ric, and the manner his gov­ernment is prosecuting the war point to duplicity. This is because the fight against entrenched corruption can­not succeed unless it is sys­tematized. But Buhari’s anti-corruption war is bereft of system. It is selective. It is running on the wheels of me­dia hysteria. It is unconcerned with preventive measures. It is overloaded in censure and sanction. It is, therefore, bound to end in tragic failure. Commentators unwilling to acknowledge the foregoing cannot honestly claim to love the man or support his presi­dency.

Fuel Subsidy – Who Is Subsidizing Who?

By Izielen Agbon
“Who is subsidizing who? The Nigerian oil industry was developed with Nigerian capital. Most of the experts are Nigerians, if you go to the fields. It is Nigerian capital; it is Nigerian oil. What I understand that Nigeria should charge Nigerians is the cost of 1 barrel at the wellhead and then the cost of transportation to the refinery, the cost of refining it and its cost at the pump. If anybody says he is subsidizing anything, he is a fraud. So all these people talking about subsidy, who is subsidizing who?”









*Buhari 
A first year student of refinery economics knows that the “crack spread” is a simple way to determine the profitability of a refinery at the margin. The crack spread is the difference between the sales prices of the refined products (PMS, AGO, HHK) and the price of crude oil. A 3:2:1 crack spread means that at the margin, 3 barrels (bbls) of crude oil will produce 2 bbls of Premium Motor Spirit (PMS) and 1 bbl of Automotive Gas Oil (AGO) or Household Kerosine (HHK). A barrel of Nigerian oil now cost about $40. One bbl of PMS at N87/litre cost N14159 or $71.87 at a CBN exchange rate of N197/$1. The PPPRA product pricing template of December 3, 2015 put the cost of AGO at N96.91/litre or N15772 ($80.06) per bbl. 
Thus, the gross cracking margin for an average refinery in Nigeria is [(2*71.87) + 80.06 – (3*40)] or $103.8 per bbl. The 3:2:1 crack spread is $103.8/3 or $34.6 per bbl. We can substitute HHK for AGO. At N50/litre, one bbl of HHK cost N8137.5 or $41.31. Therefore, the gross cracking margin using PMS and HHK is [(2*71.87) + 41.31– (3*40)] or $65.05 per bbl. The 3:2:1 crack spread is $65.05/3 or $21.68 per bbl. It is empirically impossible to convince anyone that Nigerian refineries cannot operate profitably under an incorruptible efficient management or that a fuel subsidy exists. What exist is the looting of public resources by a cabal aided by a corrupt bureaucracy and gross mismanagement.
Today, you can buy a gallon of PMS from a Valero gas station in Houston, Texas for as low as $1.55 or N78.8 /litre. Prices range from $1.55 to $1.99 per gallon throughout the state. The $1.55/gallon price consists of USA Federal/State taxes (19%), Distribution and Marketing (11%), Refining Cost/Profits (13%) and Crude oil cost/profit (56%). Therefore, without any taxes, the PMS in Houston would cost 19% less or N63.83/litre. Unconvectional (shale) oil production has replaced all oil imports in Texas. They produce all their oil like Nigeria