Who is the President of the USA? If you say Barak obama, then, I would call you “block head”. However if you say Olusegun Obasanjo, then you might just be making some sense to me. If I ask you the Prime minister of the UK, Please don’t mention David Cameron. You might just be exposing your “cluelessness” if you mentioned that name. However, if you say sadam Hussein, I might be looking at you as “Sharp guy”.
I really pity President Buhari I tell you. He is having far less money yet the expectations on him are at monumental proportion. He is not comfortable about telling Nigerians that Nigeria is broke. He is not too sure it would help him if he brought Goodluck Jonathan to book. He has brought out a budget that is premised on crude oil price of $38/barrel but as we speak, Nigeria would be lucky if we can get ready buyers of our crude oil at $32/barrel. What this means is that he would have to borrow far more than the current budget is claiming to make up. It is a no-brainer.
Really, it is surprising that elements of the former government can still talk. It is interesting that people who served in the last administration are still in the media claiming moral high ground. Some people are lucky to be Nigerians ooo!! In a different clime, most of the people who served in serious capacities in the previous administration would have forgotten about how seeing their kids in the morning look like. Do you know that crude sold for $120/barrel at sometime? Do you know that for long spell, crude sold for over $100/barrel? The monies made in these transactions are sitting pretty in some people’s accounts yet we are all told to move on??? We should move on and face the future when crude is selling at a little above $30/barrel?? Being a Nigerian is really a blessing for some ooo!!!
Back to the 2016 budget; I understand the good conscience being shown in this context but it is dead on arrival. It is dead because there is nothing on the ground to fund it as for now. We are operating a peculiar business environment where people do big businesses, not with their money, but with government money. This is the main issue.
The fuel marketers want to use government money in form of bogus loans from banks to buy fuel then make their money. Without this government money, it has been a crazy mode with fuel situation. No one uses his personal billions to fund business in this country. It must come from government yet it is private business. You can now see the link between the low crude oil price on all activities. Marketers want government money, they’ve been used to it. Telling them to use their personal money is the issue on ground. People should leave the complications..
The PHCN DISCO people are job-guys too. They never had any money to start the business. They just fronted for their main government guys. When the going was good, they never bothered as they got subventions from Jonathan. Without much money coming from government, they would face me and you I tell you. So brace yourselves for unrelenting increments in electricity tariffs. It would come. Leave all the grammar. They never had money and it is showing. Their original idea of going into the business has never been to provide you improve power. It has always been to tap into government money. Once that is proving difficult, the next option is to turn to us. That is Nigerian business structure.
How Buhari would settle this mess is an issue he has to tackle. How he would settle Nigerians, who are yawning, within the time he would settle this is another problem. It is a convoluted structure that can only be solved with sacrifice. However, any sacrifice that still allows people who mismanaged the money made during the last administration enjoy their loot would be tight.
We can’t move on without Buhari recovering, as much as possible, money that was stolen. We have holes in the accounts and they need to be filled. For now, crude oil prices cannot fill much. It is an unfortunate situation because the government is broke. There is nothing like moving on….
The whole thing is confusing. Being broke is confusing even on personal level. At a little above $30/barrel, it is really confusing…that is the reason it is acceptable if you say the President of the USA is Olusegun Obasanjo… I can understand…Ewolewoo!!
Leave a reply