"The govt understands the feelings of many Nigerians because transport costs have gone up and the govt is trying to make sure the benefits that come out of the removal of this subsidy are put into programmes that directly benefit the people and bring down costs.
"For instance, this afternoon president Goodluck Jonathan launched a programme of mass transit to improve bus and road transportation for the people so that the cost of transport can come down. About 1100 buses were put on the road and the road transport workers association has agreed to bring the costs down because the buses use diesel which has been deregulated for quite some time so there was really no need for costs to go up.
"What we're doing is trying to bring the benefits of the subsidy phase-out to bear, so that prices can come down. For instance, the price of transport is set to come down because the transport worker's association has accepted that there was no need to increase the price of bus transport because buses use diesel, not petrol. And so they are going to bring that down. In addition, we are working with other transporters to try and bring prices of transport down.
"We are also working to improve other services which affect the population. For instance, part of this money is going g to be put into services for maternal health and child mortality. We have one of the very bad indicators for maternal mortality in the world and it is unconscionable that our women should be dying in childbirth whilst we're using money to subsidize [petrol] which the poor people in the population do not get. so we need to improve these services to the people.
"We are going to be improving roads. Of the $8 that goes into the subsidy, $4 billion will go into improving road transport and rail transport, and the rest will go into supporting the creation of employment for youth, improving maternal mortality, and into mass transit programs. These are all programs in which the poor in the population will benefit much more than they do from the issue of subsidy."
Does she HATE Nigeria? It's one thing to not love Nigeria very much, but for her to go through all this trouble just to "ruin us" suggests that she is passionate and determined to destroy her fatherland at all costs. How can that be? She is Ibo, and her husband is Ibo. She talks like a Nigerian, and she's a citizen of Nigeria. It makes no sense for her to go through all this trouble to destroy a country she belongs to. Come on!
An alternate explanation is that she's an innocent victim of the west's deception, but is she that dumb? After 21 years in the world bank, you think she does not know what's going on and how to get the best out of the system?
Why would Ngozi go through all the trouble of quitting her job just to ruin her fathers country? Did Nigeria offend her? I mean, come on, stop being delusional.
From: Zainab Mahmoud Date: Fri, 6 Jan 2012 07:57:33 -0500 (EST) To: Subject: Greetings and questions, Thank you for reading.
Dear Sir,
Thanks for taking the time to read this, I know you are a very busy man and I hope you will reply even if briefly.
I am Zainab Mahmoud, 23, a doctor working in Ireland. I stole your email address from email threads from my father (he does not know I am sending this!)
I have read a lot about the current situation in Nigeria re: subsidy, I have listened to your interview on BBC in support of it. I, like many Nigerians, don't fully understand the economics of this.
My view is I agree that subsidy is not sustainable but what I know is lack of it is simply not 'survivable' for many Nigerians. I also agree that subsidy should be on production and not consumption.
Correct me if I am wrong, but a lot of this subsidy goes to corruption. So if we say NO to subsidy removal, it means we are fighting the battle of the corrupt. We continue to fee their pockets! And if we say YES to subsidy removal and fuel prices double it means we have made the state of the corruption permanent and will continue to feed their pockets, only this time from our empty pockets!
You are respected by a lot, me inclusive, but, Why isn't your stance stronger about making cuts in other areas like recurrent expenditure? Why should Nigerians buy fuel at the same price as non-oil producing countries?
I want to make it as short as I can. It took a lot of courage to email you directly but we don't get the information we need! Our media is hopeless and our Minister for information even more so.
Thank you again for your time.
Sincerely,
Zainab Mahmoud.
From: Sanusi Lamido Sanusi To: Zainab Mahmoud Sent: Fri, Jan 6, 2012 1:47 pm Subject: Re: Greetings and questions, Thank you for reading.
Zainab hi Good questions. Actually I have been screaming about government recurrent expenditure and overheads since 2010-as well as the corruption in subsidy regime.
It was my criticism of overheads that led to my wahala with national assembly. And I keep fighting it. However if u look at the 2012 budget the entire recurrent exp of the executive arm is N1.8tr of which N1.6tr is personnel costs. So cutting this means paycuts and retrenchment and this is politically suicidal.
Cab subsidy be phased? Possible and maybe govt will reach that compromise but better to do it once and for all. I have advised a phased approach if that will give a political solution but don't know Sent from my BlackBerry® smartphone provided by Airtel Nigeria.
From: Zainab Mahmoud Date: Fri, 6 Jan 2012 14:36:15 -0500 (EST) To: Subject: Re: Greetings and questions, Thank you for reading.
Thank you very much for replying! I appreciate it.
Can I please take more of your time and make a few more points?
From what you have explained and the happenings it appears that the Government are not willing to make cuts in their expensive lifestyles but want the masses to take the burden of their mismanagement! If the Government had suggested a phased approach alongside cuts in their 'overheads' I am sure it would have had a better welcome.
May be the protests need to take a new turn and push for cuts in recurrent expenditure.
If the subsidy is removed completely and petrol is sold at N141, doesn't that mean that Nigerians will continue to fund corruption endlessly because the true price of refining Nigerian oil cant be equal to the price our neighbouring non-oil producing countries buy petrol at.
Why cant we push for better border policies and sanctions on importation of petrol rather than worsen the already dire condition of the average Nigerian?
Can I get your permission to share this explanation with my fellow youths via twitter and facebook?(I will scribble out ur email ofcourse)
Sincerely, Zainab Mahmoud.
From: Sanusi Lamido Sanusi To: Zainab Mahmoud Sent: Fri, Jan 6, 2012 3:00 pm Subject: Re: Greetings and questions, Thank you for reading.
Well two things; in real (ie inflation adjusted terms) expenditure is coming down. Budget this year is 6pct higher than last year but inflation is at about 11pct.
Secondly I am sure we can get government to chip away at spending but in terms of materiality it will be symbolic. With a budget of about N5tr a N10b or N20b dent in spending makes a political statement but has little impact on such things like deficit/GDP, debt/GDP, debt service/revenue ratios, or reserves, exchange rates and inflation.
Fuel subsidy removal knocks off N1.4 tr which is equivalent 30pct of expenditure in 2011 and more than 100pct of capital budget and a third of total debt. I agree that we need both the symbolic and the material but in terms of macro level analysis items talked about-feeding in the villa or gardening are insignificant relatively speaking, which is not to say they shouldn't be looked at.
On borders in theory smuggling is illegal. In practice if you have money you can bribe officials on both sides and smuggle goods. A government subsidy of N80 for every litre is enough money cross the borders. Saudi arabia is surrounded by countries like bahrain and oman and yemen and kuwait all of which sell cheap fuel so no arbitrage opportunity. Once you have a huge price differential, goods will flow to the higher price market-legally or illegally. We learn this in price theory as a subject called price fixation. Prices below equilibrium always result in rent seeking and black markets or scarcity. You may Sent from my BlackBerry® smartphone provided by Airtel Nigeria.
From: Zainab Mahmoud Date: Fri, 6 Jan 2012 15:09:22 -0500 (EST) To: Subject: Re: Greetings and questions, Thank you for reading.
Thanks again!
The economics of it appear complicated and I will be lying if I said I understood all that.
How do you explain this to the average Nigerian who earns the minimum wage of N18000 and because of subsidy removal is now expected to spend N15000 on petrol? Subsidy is not sustainable but lack of it isn't either!
From: "Sanusi Lamido Sanusi" Date: Fri, 6 Jan 2012 20:30:02 +0000 To: Zainab Mahmoud ReplyTo: Subject: Re: Greetings and questions, Thank you for reading.
The short term impact at the micro level is reduction in disposable income after fuel and transport costs, as well as a fall in real income due to inflation. Painful. If the fiscal space freed up leads to improved power, infrastructure and productivity then we get growth, jobs and industrial development in the medium to long term. Success depends on implementation of sound policies and improvement in governance and accountability. What I think is that Nigerians intuitively understand why this has to be done but don't believe government can deliver on the promise so they may end up with pain without gain. I don't blame them as the record of govt has been poor. Its up to govt to prove them wrong. Sleep well continue tmrw have bad migraine Sent from my BlackBerry® smartphone provided by Airtel Nigeria.
From: "Zainab Mahmoud" Date: Fri, 6 Jan 2012 20:31:42 +0000 To: ReplyTo: zainabmahmoud@aol.com Subject: Re: Greetings and questions, Thank you for reading.
In my view Ngozie Okonjo-Iweala is the problem. She is the architect of this policy. She serves the interests of the IMF and the World Bank more than she does the interests of the Nigerian people. That has always been the case but OBJ controlled her with a firm hand when we were in power and he used her to secure a good deal for us on the foreign debt issue because she knew the system. If the World Bank asks her to jump she will ask ''how high''? This is the woman that is virtually our Prime Minister today. No wonder we are in trouble. People like this have very little feeling for the masses and they cannot empathise with their pain. Even the traditional politicians empathise more with the ordinary people because they have to interact with them on a daily basis but these so-called technocrats do not and they do not really care. All they care and think about is the full implementation of the economic prescriptions of the IMF and the World Bank and they don't care how painful and drastic the implementation of those prescriptions are. I have tremendous respect for Ngozie as a person and frankly I happen to actually like her because she is civilised, well-bred, exceptionally intelligent, warm and affable. However we have a completely different world-view. Her world-view is that the ''Third World'' should live at the behest and by the grace of the Bretton Woods monetry institutions and she believes in a fully globalised world where the second slavery (i.e. international debt) holds sway and keeps the poorer nations of the world in their proper place. My view is that nations were not created to be broken down into vassal states which are remote-controlled, punished, enslaved and impoverished by a few greedy international bankers that run the IMF and the World Bank.
I do not trust these foreign international monetry institutions and those that work for them and my vast knowledge of history shows me that wherever they go in the world they only spread misery, poverty, unreasonable conditionalities, misery and wickedness. Their yoke is heavy and they are simply tools of oppression that are firmly in the control of all-mighty America and western Europe. These are the forces and the people that are causing GEJ to derail. He should stand up to them and he should not give in to their intimidation and threats. He has nothing to fear from them because the westrn world itself is now going through it's own major financial crisis and it is crumbling. Nigeria is big enough and strong enough to face them down no matter what and chart her own course. What they are using him to do is to impoverish the Nigerian people, weaken them and bring them down to their knees. They did the same in South America through the 80's and the 90's and they are still doing it in Africa. Even the nation of Ghana, which has a far more stable and prosperous economy than Nigeria today and which has just discovered oil, was forced by this hidden hand that controls their government to remove their own oil subsidy on xmas day of all days. What a terrible xmas gift to the Ghanian people. Since then prices for virtually everything in Ghana has doubled. And we can be rest assured that after the trickle down effect sets in we should expect the same in Nigeria- everything will double or triple in price including food, transport, diesal, kerosene, petrol, commodities, the general cost of living etc. This is unecessary, unfair, wrong and exceptionally callous.
I would have wanted to also address in this letter, Mrs. Diezani Allison Maduekwe and Dr Goodluck Ebele Jonathan, but, since Nigerians don’t really know who you people are, except that Mrs. DAM was one of the top-staff in Shell, and is the First Minister of Petroleum Resources in Nigeria at least according to her twitter page (@diezanimadueke). And for Dr. GEJ, the only thing we know about you is that you are the incumbent and “SERVING” President of the Federal Republic of Nigeria. Oh, and also, that you had no shoes. Apart from that, for the two of you, we really don’t know who you are, and we are yet to know what you stand for or against. We are still looking, so, we can’t talk much.
As for Mrs NOI, and Mr. SLS, Nigerians don’t really know who you are anymore. Who are you people really? And are you truly for us or against us? Are you black or white? Please let us know. In this letter we will only address Mrs. NOI.
Ma, on the 7th of February, 2010, at the 5th Annual the Future Awards, Nigerian youths were gathered and you revealed to us something we didn’t know about ourselves. The Nigerian youth comprises 70 percent of the Nigerian population. Our mouths opened and could not close and we listened with rapt attention as if we are sharing some earth-shattering discovery. You automatically became our Hero, and we almost worshipped you. You became the father, the mother, and the much-needed mentor we never had. You gave us identity; you told us that Nigerians belongs to us, and not just to the 30percent. You said that we should demand good governance and accountability and we should fight for our rights even if it means peaceful protests. We believed you wholeheartedly and @EiENigeria (Enough is Enough Nigeria) was formed. @GbengaSesan, @Chude, @Bubusn, @AbangMercy, and others ran with the vision. You said we should fight for Truth and Justice. In case you don’t know Mum, we listened to you. We have braced ourselves up against corruption; we have armed ourselves with truth. We now demand transparency.
Fast-forward to 2011. We have heard so-many of your arguments for the removal of the subsidy. We too don’t support the subsidy of inefficiency and corruption but because you have taught us to read, question, and demand transparency, we have dug up facts, we have dusted Nigerian history, we have read about other Countries, we have given counter-arguments, we have proposed alternatives, we have made our case known. Mum, we have done everything you told us to do on that fateful day, 7th of February, 2010, but Mum, you became our Enemy. You betrayed us.
Firstly, when you were presented with the KPMG independent Audit, you studied it, we all studied it. With all the massive irregularities, monumental fraud, and leakages in the Nigerian Oil Sector as highlighted, we expected a strong statement and reaction from you, yet you turned a blind eye to this, instead blaming an unidentifiable cabal. Now, that report is dead. No one sacked, no one jailed, no one resigned. Mummy, why?
Secondly, Mummy, you are quick to compare Nigeria with other countries, saying Indonesia, Malaysia, and Iran removed subsidy, so, Nigerians too can remove subsidy with appropriate safety nets. What you refused to tell Nigerians is that before Indonesia removed subsidy, the price was N29 per litre and after staggered and step-by-step removals over Years it became N87 per litre. Also, you intentionally didn’t tell Nigerians that it was because their Oil reserves were dwindling and they have become a net importer of oil (i.e. they needed to import Crude at international prices) is why they considered removing subsidy. Nigeria produces enough Crude Oil to cater for its domestic needs. Iran, also was selling Fuel to its Citizens for N15 per Litre which increased to N60 per Liter after subsidy removal. Also, you didn’t tell us that Malaysia spends $14 billion US dollars and Iran spends $45 billion US dollars yearly on Fuel Subsidy as compared to Nigeria’s spending of $9 billion US dollars as at the time they removed their Subsidy. Ma, you also didn’t tell us that Iran, Malaysia, and Indonesia were subsidizing for their citizens below the cost of refining, while Nigeria was subsidizing for her own citizens the cost of not refining.
Thirdly, Ma, you told us that the cost of Fuel in Nigeria is one of the lowest in the World. Ma, what you tried to hide from us is that you were comparing us with non-Oil producing countries. At N65, we have the 14th cheapest Petrol in the world but the 3rd most expensive in OPEC. Angola is a Country just out of war, same as Iraq. We are not just out of a War! After the removal of the Subsidy, Nigeria will be 42nd place in the world around Countries like Russia, China, Peru, Jordan, Taiwan, and the United States. In OPEC, we will probably the most expensive or competing with POST-WAR Iraq and Angola. Also, you refused to tell us about the standard of living in these other countries you are comparing us with. Nigeria is struggling to pay N18,000 minimum wage while average monthly salary of Kuwaiti employees is around ($3,650) i.e N551,150.
Fourthly, you told us Ma that the cost of Fuel will be N120 after the removal of Subsidy but a quick visit to the PPPRA shows that the Landing cost of Fuel without the Distributor’s margin is N131, and the Distributors margin around N9.34. What magic in the world did you want to perform to bring it down to N120? Will the refining company or shipping company run at a Loss?
Ma, you have taught us to ask questions, so we will do some simple Mathematics.
You claimed around 1.4 trillion was paid in Subsidies in 2011 and according to the SURE document N1.134 trillion is re-investible from PMS subsidy removal. Simple mathematics shows that since 75 naira is the amount paid on PMS subsidy, that means Nigerians consumed N1.134 trillion / N75 = 15,120 million litres in the year. More mathematics says daily consumption averages 41.42 million litres i.e. by dividing the annual consumption by 365.
Now, you and Mrs. DAM have not been able to explain to us how Nigerians started consuming 41.42 million litres by day, when even a cursory look at the past NNPC records for the past 13 years (1997 – 2010) shows that the highest we have ever gone is 27 million litres? Did Nigerians suddenly start buying Cars and Generators? Another quick look at the statements by Senator Bukola Saraki that roused the whole subsidy brouhaha showed that probably Nigerians started drinking fuel around June, meaning that consumption was stable at around 27 million litres for the first 6 months, then in the last 6 months, consumption became around 55.8 million liters per day. It is still a mystery unsolved what Nigerians started doing starting from June, after the Inauguration of the present Government that would gulp 55.8 million litres. Mummy, you are in power to be our voice in Government, but you turned your back on us when we needed you the most.
In 2010, 2.8 million litres of PMS were refined averagely per day in NNPC (Local Refining). Are we paying subsidies on that also? Yes, it must be because if not, then Mrs DAM still has more explanations to make on how 1.134 trillion was spent on subsidy when 2.8 million litres per day is domestic refining. Doing a quick calculation reveals that 76 billion naira is the amount of subsidy paid on UNSUBSIDIZED domestically refined fuel.
Again, we don’t understand the distraction methods created by the Senate Probe committee and Mrs. DAM by criminalizing the Petroleum Marketers in Nigeria by calling them the Cabal that have been eating the N1.134 trillion meant for the Subsidy. A quick look again at the PPPRA pricing template clearly states that the N122.51 is the cost of a litre of Fuel i.e. the cost of a litre of Fuel coming from the foreign refinery and shipping costs for it to land at our own Ports. The Logic is N122.51 – N65 = N57.51 on every litre paid as SUBSIDY to the Refining and Shipping companies. It means N861 billion out of the so-called SUBSIDY money is the cost of us having to refine outside the country and then ship it back to our own country and it is paid to foreign refining firms and shipping firms not to the Marketers. Is it the fault of the Marketers that Nigeria can’t refine? At least according to the PPPRA template, the real money entering the hands of the Marketers is N6.5 which is essentially the dealers and retailers margin. The annual sum then gets to N98.28 billion. The cost of transportation and bridging is N8.85 naira per Litre, and that is just because the pipelines are either bad or vandalized. Then we ask again, is it the Marketer’s fault. NNPC doesn’t have adequate or has unutilized storage depots and the private hands store Fuel at N3 per Litre and then you ask again? Is it the Marketer’s fault? Who is in business that doesn’t want to make Profit? Instead of looking at the real problems, they told us it was a Cabal that was stealing all of our money, are they dipping hands into the Federation account? Are they not being paid by PPMC?
Mummy, you sold Nigerians the story that you are trying to take Money from a powerful few and redistribute it to the Poor. How much are you taking from these “Cabal”? N98.2 billion of legitimately earned money. Nigerians believed you because they thought they were fighting the Cabal. We are not deceived, they are not the real Cabal. Identify them in NNPC. Identify them in our Past and Present Leaders and Politicians.
Mummy, we are really tired of explaining mathematics because we know you know better than us at these things, at least that is why you were the Vice-President at the World Bank. Our only question is why did you sell us out?
There is still one more thing that confuses us, and this we are not sure anybody has asked you before. We will paint a scenario.
If Nigeria were to refine all the Crude Oil necessary to meet Local Demand, we might have to refine like 400,000 barrels more than we currently do per day. So, since, we don’t refine that Crude which is meant for Nigerians internal consumption, the Nigerian Government sells that Crude on the International market as part of its export. For example, if Nigeria exports approximately 2 million barrels per day. If the refineries were working, Nigeria will only be able to sell 1.6million barrels per day. So, we can safely assume that extra 400,000 barrels of Crude Oil is being sold on behalf of the Nigerian people daily. Bringing out our Calculator again: 400,000 * $106 * 365days = $15.48 billion, but as Mrs DAM has successfully hidden from us what percentage exactly the Nigerian Government profits from Crude Sales, let us assume only half (50%) of it is remitted back to the Nigerian government. That gives us $7.73billion which is approximately N1.2 trillion. This amount alone covers for the subsidy of PMS. Where does that Money go to?
Ma, We really want to stop disturbing you right now but We also remembered you told us you were still consulting widely with stakeholders and that a probable date is fixed for April 1st, All of a sudden, you gamed Nigerians on the First day of the new year. This is not how you raised us up in truthfulness and integrity.
Presently, the Nigerian Youth has the feeling of being violated, that eerie and awful feeling of being violated by a close Friend and Confidant. We discussed and discussed and had Press releases but the Government would not listen and then @renoomokri was “sent” to come insult our intelligence and teach us how to read the constitution.
You said, when all else fails, we should employ peaceful protests to advance our position which we obediently hearkened to. Now Mustafa Muyideen Mofoluwasho Opobiyi is dead. A 23 year old young man is dead. He had completed his studies in computer training at Da’arul Salam Computer Training Institute of Information and Technology. He arrived in Abuja post-graduation for a short vacation but was shot down in cold blood by Nigerian police at the pro-subsidy protest in Ilorin, Kwara state by the Nigerian police. Ma, you are now in Government, who authorized the Police to shoot him down?
Another of us was brutalized ( ) by Policemen at Maryland today, who authorized them? Ma, we just wish to remind you that you are in Government today and you are also to be held accountable. Section 40 of the Nigerian constitution protects the Nigerian Citizens right to Assemble. “Every person shall be entitled to assemble freely and associate with other persons, and in particular he may form or belong to any political party, trade union or any other association for the protection of his interests:” Why Ma, have you gamed us?
Ma, we’d like you to know that there is no going back moreso since some of us have been gunned down. We continue our Protests tomorrow. Are we still going to be gunned down tomorrow? You are in Government, you sponsored this Policy, and being a truthful person that we “hope” you are, please tell us the truth.
The Sub-Saharan Spring has started. Ma, would you want your name to go down in History as the same person who encouraged Youths to engage their Government and Protest when need be, and also be the same Person that will be noted as the Flagbearer of the Policy which caused the Protests?
There is something Nigerian Youths will want you to do for us.
You must rescind on this subsidy-removal policy which you heralded.
You must apologize to all Nigerian Youths, your Children, 70% of the Nigerian Population.
You must publicly tell Nigerians that you are not being used by IMF or the World Bank.
You must tell the Labour Minister that apart from NLC and so-called Hoodlums who were protesting, there is also a class of Nigerians called the Enlightened Nigerian Youth.
You should tell Mrs Diezani Allison Maduekwe that her antics has not deceived any of us.
You should tell Mr. Labaran Maku that Nigerian youth are now more informed and we just don’t swallow everything hook, line, and sinker. Also, that it was an insult on us for him to tell us that we should be thankful that President Jonathan is a Patient and Calm man.
Finally, Ma, if you cannot rescind on this Policy at this moment, we’ll appreciate if you will honourably resign. This will help send a message to the Jonathan led government that his policies and methods are unpopular.
I will leave you with the words of your Friend and Colleague @obyezeks (Madam OBY), She said:
“Today, we have no choice but to go back to basics and try to regain the people's trust. In 1946, philanthropist Joseph N. Pew Jr. said, "Tell the truth and trust the people”. Analytical evidence shows that economies that respect citizens' SPACE and VOICE to contest Policy grow better and faster. History shows that it becomes a slippery slope when nations try to shrink the Public Space for Citizens' Voice. Avoid it!
Social Accountability is now the core of Good Governance which means that engaging with CITIZENS as EQUAL PARTNERS is their RIGHT and not a PRIVILEGE”
The Nigerian youth have spoken! We don’t want a removal of Fuel Subsidy; we demand a stoppage of it. Subsidy wasn’t there originally, and we know what brought it in, eliminate what brought subsidy in, and subsidy itself will be eliminated. Treat the Disease, not the Symptoms!
I hope you Listen. We still trust you. We believe you will do what is right.
@LEXYLOV: Those who don't remember the past are doomed to repeat it. The nonsense that you're spouting is exactly how military rule came to be in Nigeria. What you fail to realize is that power corrupts.
Henry40: Seems liken this dude really doesn't care about the fact that people are being hurt, he's more concerned that they aren't hurt during "religious period(s)."
Isn't that precisely why Christians are more outraged about this case than previous Boko Haram attacks?
To those saying, build refineries before removing the subsidy: if we don't have enough money to pay for the subsidy alone without borrowing, where will the money to continue paying the subsidy while also building new enough refineries to support 150m people without foreign/private investment come from?
ignorant when the government spends 1 billion a day for governance?
Many of these statistics are misleading. Which government are we talking about, that's spending 1 billion per day? Does it not include the unproductive civil servants we don't want them to sack en masse? The civil servants who are agitating for increased pay and who we support? The police and judicial system that are massively underfunded and not able to dispense the basic functions of government? Does it not include the publi schools? Should we cut down on all these to provide free petrol? The wastes people are talking about are peanuts compared to the subsidy(33%) and salaries (70% of 66% according to Sanusi)
He wants the government to subsidize fuel-efficient transport which can actually reduce transport costs. He is in fact wrong, because you have to consider the cost of the vehicles in your ROI calculation. His ideas are pretty smart but simply wrong due to subtle errors.
Politics › Ngozi Okonjo-Iweala Al-Jazeera Interview On Fuel Subsidy Removal by Seun(mod): 2:42am On Jan 09, 2012
