Let's talk about fuel subsidy removal.

This is my thought on pms subsidy in Nigeria.

One of the 'only' things many Nigerians enjoy is a very low price of its pms, one of the lowest in the world.

Due to our pattern of economy, Nigerians can't do with total removal of fuel subsidy. Let's also note that we are not immune from the economic disasters that awaits the future.

I think it's high time Nigerians start thinking about the future, at least for our coming generation.

There is no end coming soon, be irreligious on this issue. Lol
It's high time we understand our own economic situations and see how we can go around its sanity. 'no be book way'. However my thoughts...

If Nigeria government should hand over a certain percentage of crude to private refineries, FREE!!!

Yes free!

The benefits are enormous and I believe it will go a very long way..

The refineries will sell pms through the chain of marketing in Nigeria but with a serious & transparent agency.

This agency will see to the statistics of Nigerians daily pms consumption.

For example
If 30,000 barrel produces 100,000 litres of pms
Then Dangote refinery will take 30,000 litres of crude per day to refine and sell at a very low rate to marketers.

A regulated price (I'm very sure it should not be more than #30 per litre) This is not a real statistics oo.

How do the refineries get their money?
To my best understanding, crude oil can be refined into many products. They will sell the other products to their own profits.

Advantages

Low pump prices for Nigerians

Should not be more than #30 I hope, since it is free. The money recuperated from sales would lead to more income to the government

Foreign exchange revamp

I believe the rate of dollar to naira is high because we import more than we export. If the government could not give us stable power supply. Then we can generate power for businesses with low pump price.

The economy go sweet, you can imagine the drastic reduction in our poverty level.

Boom of SME, big business!
Then close all borders, high import rates for non essentials.

When you have stable power supply for your business. The opportunities are unlimited.

What do you think, these thoughts are unfiltered ooo, please let's learn from you.

Nice idea but impossible to implement in a country like Nigeria. It will be seriously abused.

As a country, we should learn to get off subsidies and create room for capitalism and job creation to thrive.

SocialJustice:
Nice idea but impossible to implement in a country like Nigeria. It will be seriously abused.

As a country, we should learn to get off subsidies and create room for capitalism and job creation to thrive.

I said no be by book, what if that is what works for us?