Nigerians took too much time to get the information that the present government has no clue of what prerogatives stands for. Thank God that the God that wants to vindicate His people has made them do it to the open for every Nigerian to understand that the implication of the action the federal government took yesterday 11th May, 2016 marks the change of perception of the people.
Bringing the analysis to the table. Ever since the present government stepped into power, life has been unbearable for the masses and they know because they keep apologizing. They keep taking from us, leaving us with nothing and say we should be patient. The government remove money from our bank accounts, NEPA bill inflation, non payment of workers and now we are to buy fuel for the ridiculous price as declared by the Petroleum Minister Ibe Kachukwu not putting into cognizance the implication of this on the country’s level of inflation, the percentage of unemployment, the low GDP of the country and the devaluation of Naira that they claim they are fighting for.
The Petroleum minister now claims that any oil marketer is free to import the product at FOREX procured. NNPC has the advantage of buying a Dollar for N197 and other oil marketers buy for normal market price of N320 per Dollar which signifies they all cannot sell at the same price, not only that but will increase the demand of Dollar again in the capital market to purchase the product since the market is open to everybody now and that is enough to devalue the Naira currency in exchange to Dollar yet Mr. President said He will not devalue the Naira. The federal government has decided that petrol should not be sold for not more than N145 per litre for people who are being owed minimum wages for months now. Or do we need to start talking about the gross effect the decision has on our GDP (Gross Domestic Product) which implies that our importation is higher than our exportation and the more the number of people in the business the more the importation of the product into the country with the earlier analysis given by Minister of Finance Kemi Adeosun that crude oil was contributing 70% of the country’s GDP
What all these means on the masses is that we will all buy things twice the amount we buy it now in the market. Also, since the importation will be high, there will be no need to employ anyone to work rather we will be facing layoffs because most of the things are imported. It is a no go area for anyone to expect increment in wages because it has been stagnant for a while now. Since the signing of the budget, rumour has it that the minimum wage will be reduced so that everyone can go home with something.
If anything will be saved at this point, the federal government should better take refining in Nigeria more seriously no matter the cost.