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Our Nigerian Economy: A Story by Lordspicy(m): 8:18pm On Feb 23, 2016 |
Ebele the hunter hunter goes into the bush, kills a
very big Antelope and sells it to Mama Ngozi who
sells peppersoup. He sold the game for N1,000.
He told mama Ngozi to make sure the peppersoup
is well made because he is coming along with his
friends in the evening to enjoy themselves. When
they got there that evening, they ordered for
plates of peppersoup. Ebele bought the head for
N500, he bought the four legs for four of his
friends at N500 each, another person ate the
intestines as assorted, he paid N500 for it, three
other people also ate N500 worth of peppersoup
each. The hunter ended up spending N4,500 to
buy what he sold to Mama Ngozi for N1,000.
Mama Ngozi made a cool N3,500 profit just by
cooking (processing) the meat and selling it back
to where she bought it from. That is 350% profit
and yet she still had excess remaining to sell to
other customers. So who is wise and who is
foolish here?
Let us relate this story to our dear country
Nigeria. We sell crude oil to UK at $110 per barrel
and we are very happy; so happy that we spend
the money lavishly, and then go back immediately
to UK to buy the processed crude oil in the form
of Kerosene, PMS, AGO, Tar, petroleum jelly, wax,
petrochemicals etc. At the end of the day we end
up buying these products at 12 times the cost of
what we sold them. How is it possible Nigeria is
not broke. Nigeria sure has been broke since 53
years ago. |
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