I hope that discerning Nigerians are taking note that within one week of Tinubu’s swearing in, we have recorded consumption of *petrol fell from 69 million liters per day to 13 million liters* and the price of 12.5 kg of domestic cooking gas fell from N9,850 to N6,950 and N7,500 in some states. That is a drop of at least N2,000! And that is within 7 days of the swearing-in of a purposeful and knowledgeable President Ahmed Bola Tinubu, Jagaba.
What does that tell anyone? Just like we saw immediately after the election of MKO Abiola was announced, prices of consumer goods and other commodities started falling by themselves until Babangida’s Maradonaic abracadabra returned the country to the status quo. With *another well educated and well schooled philosopher king at the helm of affairs in Nigeria now*, our economy has impulsively started gyrating automatically in the positive direction because *President Tinubu CANNOT be deceived neither can he be bamboozled with figures!*
But why did we last this long in socioeconomic and political doldrum, abyss and quagmire without proper challenge? It is because *followers in Nigeria are just following without knowledge;* Nigerian followers are noisemakers full of noisemaking, sound and fury that signified nothing. *A large number are making the noise to be recognised and bribed while others heard the noise and joined in it.* Rulers themselves only wanted political office for the powers it conferred! NOTHING more. No break, no jam, NO SENSE, na jooro jáàrá jooro, in Fela Anikulapo’s voice!
Now, with a *sudden reduction by 56 million liters per day* in consumption *(from 69 million liters of fake figures to 13 million liters of reality now)* how will our former leaders explain the huge gap of corruptive interference in the oil industry? How? Just how? Most confounding of all was Buhari who came with lots of promise; saying he ‘does not know what is referred to as subsidy’ but who almost immediately lost orientation and could not understand the workings of his own government! Subsidy payments skyrocketed.
How does this *fake subsidy work?* Some people who are well connected to some people in government approach the local bank manager for a short-term loan of say N300 million. The manager’s cut is automatic N30 million. Borrowers go with N250 million cash to the Ministries of Finance and of Petroleum Resources and the DPR. (Even up to the Presidency-afterall, Buhari was Minister of Petroleum Resources). Necessary papers are generated TO CONFIRM importation, shipments and delivery of petroleum products ‘to various (listed) depots in Nigeria’. Borrowers enter town with the remaining N20 million free money; spending, reveling and ‘spoiling the girls’! Within three months, all the papers (generated) would have been signed for onward delivery to the Office of the Accountant-General and the Ministry of Finance.
Where transaction is successful, between N1.5 to N2.0 Billion Naira in subsidy payments would be released to the Bank accounts of the ‘importers’! The Ministry of Finance officials get their own cut of between N500 million to N1.0 Billion! Give or take, after paying back the soft loan of N300 million which was obtained earlier with interest, our ‘oil business moguls’ would have made a tidy profit of N700 million or more WITHIN THREE MONTHS and without doing anything. Nigeria’s money was just being wasted. Frittered around by loafers, illiterates and never-do-wells! *Influence peddling* increased exponentially and Olósó (prostitution) business became the password to immediate and sudden affluence among young girls and some married women.
That is why you see that nobody wants to work; every body wants money – free money that flows in ‘by the Grace of God’! The ignoramuses among them were led to the slaughters by Pastors, Alfas and Traditional Medicine men for miracle money since not many people knew or had the subsidy connection. For your information, that is the source of the humongous amounts of money found with a number of federal officials like the ex-Accountant General!
Not all of them were successful though. Many of them who jumped into the fray at the time Buhari had just been sworn-in in May 2015, when the whole subsidy process was still very cloudy before Buhari himself was overwhelmed, around September to December 2015, GOT THEIR FINGERS BURNT. A brother inlaw of mine was a victim and he lost his job as a bank manager.
My hope and prayer now is simple: Tinubu must not be overwhelmed! We have very high hopes in Tinubu’s knowledge and capacity. He can do it and he must do it. He was an Auditor with Mobil; so, it is assumed that he is well heeled in the oil industry.The time to rescue Nigeria from the Buccaneers is NOW. Tinubu MUST NOT FAIL and he shall not fail by the Grace of the Almighty!
Nigeria shall be great again.
N. A Adebiyi,
Rtd Permanent Secretary is from Ogun State.