One of Candidate Jonathan's expensive huge billboards in SW Nigeria during the campaign. Date picture taken deliberately left in.
[A promise broken, a trust betrayed...
Just to remind President Jonathan about the list of those who actually got "subsidized" and who should have to reimburse Nigeria and her citizens for oil:
http://emotanafricana.com/2011/12/03/a-list-of-those-who-have-continued-to-profit-from-nigerians-collective-misery-thru-the-oil-subsidy-lie/. TOLA ADENLE.]
The major problem in Nigeria is corruption. Once we get a transparent and credible leader, all these problem will be solved permanently.
We presently have four refineries which can produce 4m litres of PMS daily at 90% capacity and our maximum consumption rate is 3m litres, why do we need to import when the crude oil to feed the refineries is abundantly present in Nigeria. If we produce locally, our production cost is N40/litre which still leaves a profit margin of N25.litre at the prevailing selling price of N65/litre.
It is an aberration for an oil producing country like Nigeria to use price of imported fuel of N141/litres as a benchmark price for petrol when the locally refined cost is N40/litre.
Best regards,
R.O.