The inspiration is that things have become so bad that we must speak out and I have plumbed the depth of what has been happening in Nigeria for the past forty to forty-five years and have struck the nail on the head that the way we have being running the oil industry is what has led the economy collapse as we are witnessing today.
When we are talking of recession, the recession didn’t start today, it has actually been in the pipeline because we have been doing the wrong things in running this economy as more or less a social service, which it is not.
The over dependence on oil has actually led us into this situation we are in. Before discovery of oil agricultural happened to be the main stay of Nigerian economy, and it was providing employment for the teeming population of Nigerians.
For now, we are just deceiving ourselves. The corruption is still very much ongoing in the economy and it is not being addressed by this present government.
Well, it is when the economy has been seriously bastardized and going downhill, that means the livelihood of people have been destroyed and they have become seriously hopeless.
We have the men of God running universities where the tuition fees are very high, though I am not against high fees in universities. Don’t get me wrong, because if you want quality education you should be ready to pay for it. But when it is not being put in place by government but it’s put in place by these “men of God” just to make even more money then we should call into question our so called obedience to God, because God wants us to prosper and He wants us to be properly educated but it is not these “men of God” who should educate us but it’s the government to educate us. It is when government has failed to perform its duty, these people has moved into that lacuna i.e the space that is left vacant.
The Petroleum Equalisation Fund, PEF was put in place either late 1975 or early 1976 when former President Olusegun Obasanjo was Head of State and current President Muhammadu Buhari as Petroleum Minister, and the intention might have been honest to let everybody have equal access to the petroleum product but equal access should not have been the mantra we should follow but equitable access.
Because it is looking like Government is favouring those people transporting the petrol to their places at government expense, this should not happen and this is what has been happening for more than forty to forty-two years and until we change that we cannot get it right as a country. I am very convinced about this, you run an economy on an economic template and not as a social platform.
The price at which petrol has been coming in, has always been the economic price and up until the PEF scam became the money was being collected started to be more than what has been voted out of the purse of fixing the price.
It is when this manipulation stops then we know this government of Buhari is ready to fight corruption, because the same Buhari started the PEF far back then and he’s still protecting it till today, until we stop that before we know he is actually dealing with corruption honestly and he’s treating all Nigerians fairly across board. But for now, No, that is not happening.
The Naira is officially a confused currency in Nigeria today, because nobody knows the actual exchange rate. One thing I want to state here emphatically is that at any time you have a dual exchange rate for any currency, it is an invitation to fraud.