I have heard that one of reasons for fuel subsidy removal is to stop oil marketers from getting free money from the government, some even say its a way to punish the marketers. But the reality is that these marketers are still making the same amount of money (after subsidy removal).
Here is a rough breakdown;

pre-subsidy removal:
govt subsidy - N75
pump price - N65
Total - N140

post-subsidy removal:
govt subsidy - N0
pump price - N140
Total - N140

Therefore the cabals still smile to the banks while the masses suffer.

Some are even saying the marketers are instigating the nationwide protests, I ask, why would they do that when they have nothing to lose.

bump.

The idea is not to punish any marketer. They are entitled to their profit. The problem is with the dubious ones and the smugglers who lift our subsidized fuel from Nigeria and take outside to Benin, Niger, Cameroun etc to sell at over 2x the price.

Do you know that is one reason why prior to 2009 we always had problems of fuel queues? It was like pouring water into a basket. We kept importing but couldn't find the product at our stations. FG then decided to bring in many more importers to flood the market but by solving one problem, they created another.

Also, the subsidy removal idea is not intended to just address smuggling. That is the smaller issue. The main focus is to utilize the money more efficiently. A little analogy. A farmer can plant in a farm by 2 ways.
1. Dispersal method: Here the farmer just throws seeds around the farm randomly. Some fall on stone (the rich), some on good ground (the poor) and some birds pick up the rest (smugglers). The yield u get from such method may not exceed 20%

2. Dig a hole, plant, and cover: In this method, the farmer diligently opens up the good soil, plants the seed (e.g. 2 per hole) and covers it up. By this, birds cannot pick them up easily and most of it is in good soil. The yield can be as good as 90%.

My people, subsidy removal and reinvestment is like going from planting method 1 above to method 2. We should be more concerned about how to make it work i.e. How to water and fertilize the seeds planted and ensure higher yield.

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