Drawing from my playbook on how to fix Nigeria, I will examine fuel subsidy, focusing on deepening transparency in the process, and not necessarily the economic implications of fuel subsidy (the economics of fuel subsidy is another conversation which I will return to in another post).
From Ndubuisi Ekekwe’s “3T2030 Plan for Greater Nigeria”, a plan to transform Nigeria’s current sub-$500b GDP to $3 trillion by 2030, here we go.
As a minister of the Federal Republic of Nigeria (the current post I am running for), I will work with Mr. President to digitize the downstream sector of the Nigerian oil & gas sector. I offer to help Nigeria build a transparent, robust and real-time integrated petrol distribution and monitoring system.
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I will drop sensors in every fuel truck, fuel tank and depot, linking all via GSM/satellite to a database, and using GIS data, connect the elements. The end result: you have full visibility on volume, consumption, location, etc at any point in the nation. All human elements in the system will be automated out so that corruption will move to the museum of ancient demons.
I will install LCD monitors for all LGAs chairmen, governors and Presidency to have real time data of petrol consumed, quantity in all jurisdictional fuel stations, quantity coming to their domains, depot capacity, etc. Under my watch, corruption in fuel subsidies will go. We will build the tech.
This project will be delivered within 6 months. Every piece required is already in Nigeria. Let’s make it happen so that your favourite teacher can go to work at Abuja and fix these issues as a minister. If we do this, Nigeria can save more than 30% of wealth it wastes on fuel subsidy because we will cast out the demons.
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But they said that subsidy is ending in June 2023? So by the time you are confirmed, Nigeria must have buried subsidy skeletons!
But before then, we have a small matter of borrowing almost N4 trillion to fund petrol subsidy, though the presidency still doesn’t have clarity on actual daily consumption, but we need N4 trillion to see us through June 2023…
Nigeria is not just holding the mantle of poverty capital, it’s also the capital of misfits in political leadership.
Whether you went to Harvard, Princeton, Stanford or Oxford, those fancy certificates are meaningless, as long as 4th graders are saddled with providing leadership, that makes the rest of us who claim to be educated jokers.
We have a lot of work to do from now till 2023, else another bunch of misfits will capture power once again, and then we will come back here to whine.
In this environment, nobody dashes you power, you capture it, so if you allow rifrafs and ne’er do wells to scare you, then it’s your loss. We have seen what happens when you allow decrepit people to go near sacred places, they go in there and desecrate everything; you have to stop them from getting close.
I will fast and pray may almighty God made it happen so the future of Nigeria wil be bright and great again so help me God ndubuisi Ekekwen
Thank you – God bless on this Easter day
Prof! When you talk like this, my heart jumps up. I like that you don’t make empty promises without a clear guide on how to achieve it. I’m personally learning a lot from your wisdom. I believe you have the will, ability and skill to harness local and foreign resources to make things work as you said. If and when you do get an offer as a minister of the Federal Republic of Nigeria, I trust you will only pitch your tent with a team of progressive principals, not those who will use your intelligence and goodwill as a marketing tool to foster their selfish ambition. (I imagine if VP Osinbajo was serving a different principal!)