Count Down To October 1st – What Nigerians Are Saying About Buhari (2)

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What Nigerians are saying about Buhari

We continue to bring posts and comments from Nigerians on social media on the performance of the Buhari led administration.

Samuel Ajayi – Facebook

REFINERIES, SUBSIDY DEBTS AND A DYING ECONOMY..

“If you made 200 heaps of yam and you claim you made 400, when you finish eating real 200 tubers of yam, you start eating 200 lies.” – popular Yoruba aphorism.

The above applies to the perilous state of the Nigerian economy and the deception about a picture of rosiness being painted by supporters of President Buhari. A king always has two set of courtiers: those who tell him what he wants to hear and those tell him the truth which is always unpalatable. These two sets of courtiers are not always best of friends. Shortly after Buhari came in, June 11 to be precise, an obvious propaganda material was trending on both social and mainstream media: Buhari has resuscitated our refineries. Some were working at 60% and others at 100%! Yes, 100%! When asked how could a turn around maintenance, TAM, of a refinery be carried out in THIRTEEN days, they said the man’s “body language” did the magic! But a lie was finally put to this on Friday. Ibe Kachikwu, the NNPC GMD, declared: “As at today, the average refining performance is 30 per cent”. He even added that left to him, he would have sold the refineries like since yesterday. Now, you will be wondering how fuel is flowing from every filling station in the country. Simple. NNPC has been doing what can be described as UNPRECEDENTED IMPORTATION. In fact, sources say we are even paying extra to divert fuel meant for other countries to Nigeria. Independent marketers are now buying from NNPC. You will ask again: why are independent not importing again. That is the question for the President. As at two weeks ago, unpaid subsidy debt had reached the FIVE HUNDRED BILLION NAIRA mark! Reason? No single subsidy payment since Buhari came in. Banks have stopped giving any letter of credit, LC, guaranteeing payment on behalf of any importer because they too (the banks) need guarantee from the federal ministry of finance that after 45 or 60-day moratorium, subsidy claims would be paid. Now banks have classified fuel import loans as HRI (high risk investment). It must be noted that banks did NOT stop giving LC under Buhari. It actually started under Jonathan because the former president had told key bank MDs that he would remove subsidy if he won second term. When Buhari won, the banks waited for a pronouncement on subsidy and when such did not come, some of them issues a couple of LCs but they had to stop. Independent marketers started doing it on their own and with dollar to Naira rate rising, they stopped. And even at that, the government is owing them. The question is this: how long will NNPC alone continue to import?
Meanwhile, most (if not all) federal workers did not receive September salary and hence, they had a dry Sallah. Why? In the absence of a minister of finance, the president signs the Salary Payment Schedule since it is above a permanent secretary. But because of the preparations for the US trip for the UNGA, he could not sign before he traveled therefore, no celebrations for our Muslim brothers and sisters. Yet, some people keep saying no big deal in not having ministers!
I have said my own. Perhaps, at the fullness of time, we will know that you need more than I-am-not-corrupt to effectively run a country. I don talk my own!

Posted by Samuel Ajayi on Sunday, September 27, 2015

Mallam Moyo Jaji – Very apt Analysis & story- telling from the “reliable sources”. I am not a Federal Worker but I wonder as to how many minutes it takes to sign a Salary Voucher to have affected the Federal Workers. If the Government is not paying the shadowy ” Independent Marketers” how come that the Bill for subsidy continues to escalate.
Yes, Kachiukwu can prefer to sell the Refineries as a Private Sector Technocrat but the OPEC demand that its members should ensure that they are in control of the ” Commanding Heights” of their Economy. NNPC is a major parastatal of the Nigerian Government ( a body that used to defy the Economic instruction of the Federal Executive) & I see nothing wrong with its being the Sole Monopolist of Importation of the Commodity & sell to other Importers. To achieve maximum effect of the Policy, there must be teething problems which of course, some are not comfortable with. Is it possible to make an omelette without breaking eggs ? Moreover, Governance is not a noun. Governance is a continuum whereby Assets & Liabilities are inherited from the previous Administrations..
Experience, is the best Teacher. It’s easy to make conjectures about some things in whch you are not involved & as to what informs some things in Governance.
A Fiction Writer, whose books helped honed my ability in English Language died a few weeks ago.
Pessimists can doubt, Optimists will hope for for things to improve & the Leader will always show the Way. Only God is perfect. I am not an Economist but of high intelligence.

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Count Down To October 1st - What Nigerians Are Saying About Buhari

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