Finally the chicken are coming to roost after terrible choice for president.

Alas Prof. Tam David west got his groove back, thanks to Fuel price hike.







The fuel price increase is still a front-burner issue in Nigeria

– Former minister of petro­leum and energy, Prof Tam David-West has added his voice to the debate

– David-West is one of the vocal supporters of President Muhammadu Buhari

The decision of the federal government to remove petroleum subsidies thereby increasing the pump price of a litre of fuel has not gone down well with Professor Tam David-West.

A vocal supporter of President Buhari, the former minister of petro­leum and energy berated the Federal Government for in­creasing the price, saying it is nonsense and unjustifiable.

Prof Tam David-West

Speaking with Daily Sun yesterday, May 20, in Ibadan; the Oyo state capital, David-West stated that petrol can be sold at N40 per litre in Nigeria.

David-West had adopted the same stand before the 2015 general elections where he boasted that petrol will be sold for N40 per litre if Buhari was elected president.

According to him, Petroleum Equalisation Fund (PEF), de­murrage, charges by Nigerian Ports Authority (NPA), jetty and depot charges, retailer’s margin on petroleum, trans­porter’s margin on petroleum, dealer’s margin on petroleum, smuggling across borders, stor­age and so on were some of the additional charges put on the price of PMS.

His words: “When I heard the minister of state for petroleum (Ibe Ka­chikwu), saying they smuggled our petrol across borders and that was the reason for the in­crease, it is nonsense. I used the word nonsense because during my time, we closed the bor­ders. If I could do it, he could do it too; and it is the same head of state (Buhari).

“We ensured there was no petrol station several kilome­tres to the borders. Govern­ment would not approve fuel station that is close to the bor­ders. Another illogicality of that argument is if you sell petrol in Nigeria for N150 per litre, the people across the borders are ready to pay N160; if you sell for N200, they are ready to pay N210. So, there will still be smuggling. So, increasing petrol price in Nigeria does not stop smuggling.”

He noted further that “the fuel price increase is confusing. A government of­ficial said it is subsidy removal, which is not. Another one says smuggling, which is unten­able. Foreign exchange (Forex) was also mentioned, which is partially tenable because the country’s foreign exchange has gone down drastically. So, it is so difficult now to source forex to import fuel.

“If I am into managing of oil and foreign exchange goes down, why should a man on the street pay for it? No matter the reason, N145 per litre is not justified. If they removed all the unnecessary additions on the price of petroleum such as bridging or Petroleum Equali­sation Fund, dealer’s margin, transporter’s margin, retailer’s margin, storage, depot margin, and NPA charges, petrol price will come down to N40 per litre.”

He decried the confusion that has characterized the announcement of the policy, stating that the national chairman of the All Progressives Congress (APC), Chief John Odigie- Oyegun and Kachik­wu said the hike in fuel price was necessitated by subsidy removal, but the Vice Presi­dent, Prof Yemi Osinbajo, said it was because of foreign exchange.

He said: “What they are doing is embarrassing to him. Buhari has said it repeatedly that there is no subsidy. I stand by him that there is no subsidy as such. If you say you have come to remove subsidy, will you re­move what does not exist?

“Kachikwu, I don’t know him and I have never met him before; he is brilliant from his CV (Curriculum Vitae). I re­spect him for his CV. He has got a very beautiful CV. But sometimes, he says things that are, to me, outrageous.

“A business man runs a business to make profit. Gov­ernment should encourage businessmen to be in business by allowing them not to run at a loss. Government also has a responsibility to make sure that businessmen do not ex­ploit the people.

“Right now, we are interested more in businessmen making profit while they (gov­ernment) turned their back to common man being exploited or suffering.”

Meanwhile, the Vehicle Owners Association of Nigeria (VOAN) has condemned the decision by the federal government to remove the petroleum subsidy, in the face of socio-economic hardship being experienced in the country.

The group also called for immediate reversal of the policy which it described as “obnoxious and anti-people”; even as it enjoined President Buhari to urgently summon a stakeholders meeting in other to find lasting solution to the energy crisis instead of resorting to piece-meal approach in solving the problem.

I can only imagine how embarrassed and disappointed this man feels right now

He is a rabbied prof. Very useless

Hmmm is alright oo

I feel the groans of Prof. David Tam West. He is really disappointed at the state of the petroleum industry.

I agree with David Tam West, If government cannot do enough to checkmate smuggling Petroluem products across the border, then the Government itself has failed.

I once said it, Kaichukwu is on internship, I was really amazed some with such a beautiful resume could make so much gaffe and goofs as to managing the oil sector. He said the refineries are working up to 50%, help me ask him where do the refined products go, how are products being managed by NNPC, how come the refined products from the 50% operational efficient refineries doesn't contribute a fraction to our daily consumption.

TPAND:
I feel the groans of Prof. David Tam West. He is really disappointed at the state of the petroleum industry.

I agree with David Tam West, If government cannot do enough to checkmate smuggling Petroluem products across the border, then the Government itself has failed.

I once said it, Kaichukwu is on internship, I was really amazed some with such a beautiful resume could make so much gaffe and goofs as to managing the oil sector. He said the refineries are working up to 50%, help me ask him where do the refined products go, how are products being managed by NNPC, how come the refined products from the 50% operational efficient refineries doesn't contribute a fraction to our daily consumption.

I feel the groans of Prof. David Tam West. He is really disappointed at the state of the petroleum industry.

I agree with David Tam West, If government cannot do enough to checkmate smuggling Petroluem products across the border, then the Government itself has failed.

I once said it, Kaichukwu is on internship
so epic but so true especially I once said it, Kaichukwu is on internship especially since he is coming from an organized private sector and not used to the chaos and double-speak in government.

k

He was the one that promised Nigerian that fuel will sell for N40 per litter not APC

He was the one that promise Nigerian that fuel will sell for N40 per litter not APC

This baba should go and relax. Comparing 1985 with 2016.


If I hear 40 naira again from your mouth.....


Haba! Listen to your self sir, if all margin this and that are removed... Baba! Na spirit go sell the fuel

Baba, if you want minister of petroleum, come and have it.



But I bet you petrol will sell for over 200naira.

For speaking out regardless of ur previous stand, U'hv earned forgiveness without asking.
#PatientlyWaiting

this was the same allegations raise against the previous government in price of fuel. so if government failed in is responsibility the citizen suffers. this only happens in Africa. people who once had 1 million in their bank account. this current inflation has slashed the value to half a million. private operating business people will only end up creasing the price for goods and service. only salary earners suffer the most in inflation.

make una no mind tam david west. na shame dey worry am.

Blizzy9ja:
I can only imagine how embarrassed and disappointed this man feels right now

he would be VERY disappointed like many Nigerians who had hopes in this Administration

He's talking on economics term,there is reality term.

Mr David, those two terms above don't really work hand in hand. Pls,let's face reality sir.

Petrol can't sell for #40,I believe you said all that to save face.

DickDastardly:
He is a rabbied prof. Very useless

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