FUEL SUBSIDY SIMPLIFIED
Logical Reason!
Chief Joseph is a petroleum importer. He imports 10 million litre of petrol at the of cost of N95 per litre. He report to the DPR that he has imported 15 million litres at the cost of N105 per litre, requesting N30 subsidy per litre. DPR sends Mr. Yusuf an inspector and monitoring officer, to measure and verify the authenticity of the claims. Chief Joseph offered Mr Yusuf a bribe of the applied subsidy in lieu of 1 million liters, which Yusuf reject instantly, requesting that of 3million liters so that, it can comfortably go round to his bosses. Apparently they ended up agreeing on 2.5m liters each. The deal is strucked, mr Yusuf and his Bosses ended up with N75,000,000 while Joseph, the importer gain N400,000,000 on the deal They jointly cheated the government of the sum of N175,000,000. Finally Chief Joseph diverts 75% of the product to the black market and sell at N120 per liter to the masses. Later the government will also pay the cost of transporting 15 million liters to the allocated filling stations across the country. That is exactly the case of petroleum subsidy in Nigeria. So isn't it better for the government to invest those savings of hundreds of Billions of Naira wasted every year on subsidy, on life touching projects?

Spotted on

Who taught you this nonsense? You have successfully been brainwashed.

Well said OP. The subsidy process has corruption in its DNA. The government's fault is that they didn't do enough to educate the people on this matter before taking the giant step knowing fully well that they were against this same move during GEJ's administration.

Can't the government fire all the Mr. Yusufs (all corrupt individuals)? if Mr yusuf and his bosses are locked up in jail for long prison terms as will be done in the civilised word, future Mr yusufs will have a rethink.

Does Nigeria want to remain a third world country forever. If we don't implement checks and balances, how will we ever grow.