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Showing posts with label Tam David-West. Show all posts
Showing posts with label Tam David-West. Show all posts

Nigeria FINISHED If Buhari Sells NLNG - Prof. David-West; ... Says He Should Rather Sell Off The Whole Nigerians

Nigeria FINISHED If Buhari Sells NLNG - Prof. David-West; ... Says He Should Rather Sell Off The Whole Nigerians

Buhari
Photo Credit: VANGUARD NEW
Prof Tam David-West, a former Minister of Petroleum and Energy,  yesterday, flayed those clamouring for the sale of some national assets in order to get more money to inject into the economy with a view to getting out of the current recession.

He described them as unpatriotic and enemies of Nigeria.

In an interview with Daily Sun in Ibadan, David-West said the clamour showed lack of understanding of the current economic quagmire. The former petroleum minister, who described oil and gas sector as the blood of the nation, said the clamour for outright selling of Nigeria Liquefied Natural Gas (NLNG), the country’s shares in the company or the refineries was a wrong way to tackle the economic recession.

Business mogul, Alhaji Aliko Dangote recently called for the sale of the nation’s shares in the NLNG. His suggestion received a buy in from the Senate President, Dr. Bukola Saraki who said the shares, along with other sovereign assets in the oil and aviation sectors be sold to stem the current economic recession.

But while David-West agreed that the country was in a desperate situation, he said the leadership should not be desperate towards providing solution to the challenges.

“It’s madness to say you want to sell NLNG and the refineries. Why not say Nigeria, too, should be sold?

“Yes recession is biting, and it is a desperate situation. But, anyone who acts desperately in a desperate situation will be in more trouble. If you have a desperate situation, don’t act desperately. When you act desperately, you are going to make more mistakes.

“In any case, oil and gas are strategic national assets, so, anyone who talks about selling them is unpatriotic. Oil makes up 90 percent of Nigerian foreign earnings. About 80 percent of our annual budget in this country is from oil. Oil is the life blood of Nigeria. Anyone that says go and sell oil asset, which is a strategic asset, is not patriotic, or does not understand what he’s talking about. If you want to destroy Nigeria, go and tamper with oil industry; we are finished.

“There have been talks about selling of national assets, such as NLNG, refineries and so on. When I read the stories, I shuddered for the lack of basic understanding of what is on ground. You cannot sell NLNG because it is an incorporated company. Nigeria is only a shareholder in that company. If you talk about selling our shares, it is a different thing. No government can sell NLNG. It is a company where Nigeria and other people have assets,” he said.

Nigeria, according to him, can get out of the recession by leasing oil blocs that have not been developed to the maximum and those that have not been touched. He added that Nigeria could get loans that should be repaid with crude oil over a period of time. He recalled that it was done when Buhari was Head of State in 1984, “and it can also be done now.”

David-West noted that in his letter of appointment as a minister in 1984, the military regime of Gen. Muhammdu Buhari gave him three priority areas, namely, revival of the NLNG, revival of petrochemical and reorganisation of the Nigeria National Petroleum Corporation (NNPC). The mandate, he said, was given to him because the NLNG had failed before Buhari’s regime came on board.

“Why did it fail? Nigeria had spent over $80 billion on wasted NLNG projects before the coming of Buhari. Why was it wasted? Every ministry had representatives on the board of NLNG, which had 25 members. “During Buhari’s time, we changed the concept. What they were doing before that time was, ‘NLNG belongs to us’. You can come and join us to develop it. Nonsense! No businessman will invest in a venture that he is not sure his investments are safe and he will make profits. So, we changed the concept,” he said.

David-West, who noted that he appointed the late boardroom guru, Gamaliel Onosode, as chairman of NLNG in 1984, stated that the regime of Buhari restored the confidence of international investors in the company. Part of the transformation introduced to the company, according to him, was the change in the concept. Nigeria was made a partner and it has bigger shares of 49 percent through NNPC; but the country does not have controlling shares in NLNG. The Shell Petroleum, which was taken as principal technical partner has 25 per cent, and other international companies like the AGIP, Total and so on own 26 percent.

He further said the word ‘sales’ should not come into the question. Instead, he suggested that the country should think about leasing some of the national assets to reliable investors. He sug-gested that the leases should be for a period of 20 years.

“There is difference be- tween freehold and lease- hold. When you sell your property, it is freehold; you will lose your ownership and the buyer will now be

the owner. But in leasehold, you can start the lease for 20 years. At the end of 20 years, it goes back to the owner; you can re-negotiate. You are still the owner of your property. I don’t want the use of the word ‘sell’ at all. Sell is completely out of the question. Nobody sells his crown jewel.

Daily Sun   
Buhari
Photo Credit: VANGUARD NEW
Prof Tam David-West, a former Minister of Petroleum and Energy,  yesterday, flayed those clamouring for the sale of some national assets in order to get more money to inject into the economy with a view to getting out of the current recession.

He described them as unpatriotic and enemies of Nigeria.

In an interview with Daily Sun in Ibadan, David-West said the clamour showed lack of understanding of the current economic quagmire. The former petroleum minister, who described oil and gas sector as the blood of the nation, said the clamour for outright selling of Nigeria Liquefied Natural Gas (NLNG), the country’s shares in the company or the refineries was a wrong way to tackle the economic recession.

Business mogul, Alhaji Aliko Dangote recently called for the sale of the nation’s shares in the NLNG. His suggestion received a buy in from the Senate President, Dr. Bukola Saraki who said the shares, along with other sovereign assets in the oil and aviation sectors be sold to stem the current economic recession.

But while David-West agreed that the country was in a desperate situation, he said the leadership should not be desperate towards providing solution to the challenges.

“It’s madness to say you want to sell NLNG and the refineries. Why not say Nigeria, too, should be sold?

“Yes recession is biting, and it is a desperate situation. But, anyone who acts desperately in a desperate situation will be in more trouble. If you have a desperate situation, don’t act desperately. When you act desperately, you are going to make more mistakes.

“In any case, oil and gas are strategic national assets, so, anyone who talks about selling them is unpatriotic. Oil makes up 90 percent of Nigerian foreign earnings. About 80 percent of our annual budget in this country is from oil. Oil is the life blood of Nigeria. Anyone that says go and sell oil asset, which is a strategic asset, is not patriotic, or does not understand what he’s talking about. If you want to destroy Nigeria, go and tamper with oil industry; we are finished.

“There have been talks about selling of national assets, such as NLNG, refineries and so on. When I read the stories, I shuddered for the lack of basic understanding of what is on ground. You cannot sell NLNG because it is an incorporated company. Nigeria is only a shareholder in that company. If you talk about selling our shares, it is a different thing. No government can sell NLNG. It is a company where Nigeria and other people have assets,” he said.

Nigeria, according to him, can get out of the recession by leasing oil blocs that have not been developed to the maximum and those that have not been touched. He added that Nigeria could get loans that should be repaid with crude oil over a period of time. He recalled that it was done when Buhari was Head of State in 1984, “and it can also be done now.”

David-West noted that in his letter of appointment as a minister in 1984, the military regime of Gen. Muhammdu Buhari gave him three priority areas, namely, revival of the NLNG, revival of petrochemical and reorganisation of the Nigeria National Petroleum Corporation (NNPC). The mandate, he said, was given to him because the NLNG had failed before Buhari’s regime came on board.

“Why did it fail? Nigeria had spent over $80 billion on wasted NLNG projects before the coming of Buhari. Why was it wasted? Every ministry had representatives on the board of NLNG, which had 25 members. “During Buhari’s time, we changed the concept. What they were doing before that time was, ‘NLNG belongs to us’. You can come and join us to develop it. Nonsense! No businessman will invest in a venture that he is not sure his investments are safe and he will make profits. So, we changed the concept,” he said.

David-West, who noted that he appointed the late boardroom guru, Gamaliel Onosode, as chairman of NLNG in 1984, stated that the regime of Buhari restored the confidence of international investors in the company. Part of the transformation introduced to the company, according to him, was the change in the concept. Nigeria was made a partner and it has bigger shares of 49 percent through NNPC; but the country does not have controlling shares in NLNG. The Shell Petroleum, which was taken as principal technical partner has 25 per cent, and other international companies like the AGIP, Total and so on own 26 percent.

He further said the word ‘sales’ should not come into the question. Instead, he suggested that the country should think about leasing some of the national assets to reliable investors. He sug-gested that the leases should be for a period of 20 years.

“There is difference be- tween freehold and lease- hold. When you sell your property, it is freehold; you will lose your ownership and the buyer will now be

the owner. But in leasehold, you can start the lease for 20 years. At the end of 20 years, it goes back to the owner; you can re-negotiate. You are still the owner of your property. I don’t want the use of the word ‘sell’ at all. Sell is completely out of the question. Nobody sells his crown jewel.

Daily Sun   

Prof. David-West Blasts Prof. Soyinka On Grammatical Error, Takes Him To Fresh English Class Over Nigeria's Sovereignty

Prof. David-West Blasts Prof. Soyinka On Grammatical Error, Takes Him To Fresh English Class Over Nigeria's Sovereignty

Tam David-West and Wole Soyinka
In what could be described as 'teaching the teacher', a former Petroleum Minister, Prof Tam David-West has faulted a grammatical usage of a co-professor, Wole Soyinka.

Soyinka has some days ago, in an interview opined that the SOVEREIGNTY IS BLOODY NEGOTIABLE


David-West in a recent interview with the Daily Sun Newspaper described Syinka's submission as absolute rubbish and nonsense. He insists that the sovereignty of Nigeria is non-negotiable.

David-West said as excerpted from the Daily Sun Newspaper:

“I pre­pared myself for this interview because for a virologist to chal­lenge a Nobel Laureate, a profes­sor of Comparative Literature, on English word, it’s like committing suicide. But I will not commit sui­cide.”

The Nobel Laureate, Pro­fessor Wole Soyinka, said recently that the sover­eignty of Nigeria is nego­tiable. How would you ap­praise the comment?

Absolute nonsense. I am sur­prised that it came from somebody as eminent as Wole Soyinka. This is absolute rubbish, absolute non­sense. No sovereignty is negotia­ble. When something is sovereign, you cannot negotiate. He is talking nonsense. Nigeria’s sovereignty is not negotiable. The sovereignty of Nigeria and any other country is not open to negotiation.

Wole Soyinka should know much than I do as a virologist. I have evidence to support what I have said. I read the story in which he said the sovereignty of Nigeria is negotiable when I was in Abuja. I am very annoyed about it.

I know what Wole Soyinka said, with greatest respect, is absolutely not true. In case I am wrong, I have to phone some friends to get their opinions. I went back to the library and got five dictionaries to get the meaning of sovereignty. They are Black’s Law Dictionary (1999 Edition), Oxford Thesaurus (2001 Edition), Collins Dictionary (21st Century Edition), Oxford Il­lustrated Dictionary, and B.B.C. English Dictionary.

Wole, of course, will agree that he over-spoke. What he said was not correct, it is not true. Nige­ria’s sovereignty is not negotiable. Anything that is sovereign can­not be negotiated. .Sovereignty implies and conjures supremacy, absolute. You don’t negotiate ab­solute.

Great scholars wrote Ameri­can Constitution. They made one mistake that has been standing for 200 years. They said in the intro­duction, in order to have a more perfect union, we have decided to do so, so, so, so. I phoned an American friend, I told him that the founding fathers that wrote the constitution were great men, but they cannot have something that is more perfect. Perfect is absolute. You cannot have more perfect. You cannot qualify perfect. When something is perfect, it is perfect. There is no half of quarter perfect. It is absolute. So, any sovereignty is not negotiable because it is ab­solute.

Every sovereignty conjures ab­solute. You don’t negotiate abso­lute. It is either there is sovereignty or there is no sovereignty, there is no mid way. If it is sovereign, it is sovereign. Every sovereign state has absolute supremacy. What you cannot negotiate is supremacy. Ni­geria is an independent state. Ni­geria is a sovereign state.

The problem here is that we should separate between concep­tion and socio-political problem. Conceptually, there is no way you can negotiate sovereignty. But if it comes to socio-political con­sideration, what you are going to negotiate is not sovereignty, but modus vivendi. How you can live together can be negotiable, but it is impossible to negotiate the sover­eign state of Nigeria. It is impos­sible. It is not negotiable.

When I saw the headline of the story: ‘Nigeria’s sovereignty is negotiable, says Soyinka,’ I said it was possible that Wole Soyinka was misquoted. But I did not want to fall into the category of the people I call headline readers. So, many Nigerians are headline read­ers. They only read the headlines, they don’t read the substance. The headline may not be the same as the substance. So, I don’t want to be a headline reader and criticise. I read the story through and I be­came more annoyed. The headline was right. The full text quoted him that he said so. But the long and short is that no sovereignty is ne­gotiable.

Going through the story in which Professor Wole Soyinka was quoted to have said Nigeria’s sov­ereignty is negotiable, would you not rather say he was being figurative, because he said ‘we bet­ter negotiate it, not even at meetings, not at con­ferences, but everyday in our conduct towards one another?’

He cannot be figurative. Wole should know much better now. He cannot be figurative with some­thing as grave as that. That is triviality and I know, he is a very serious person. He is not figura­tive, he meant it, if you differen­tiate between conceptual aspect of sovereignty and geo-political aspect. Now, Wole Soyinka was taken away by geo-political, which is about decentralisation of the nation. Decentralisation of the country is completely different from loss of sovereignty. Decen­tralisation of the nation has to do with modus vivendi, how do we live together.

Many people think when you are talking about decentralisa­tion or restructuring of the nation, you are talking about sovereignty. They are not the same at all. They are completely different.

For few days, people have been talking about restructuring the country. But what is wrong with Nigeria is not structure. It is the people themselves. Somebody had written to the Guardian from Ilo­rin, he completely misunderstood what I said. There is no situation that is perfect. A state organisa­tion like the country is dynamic.

It should be reviewed from time to time. But in reviewing it from time to time, you must be very careful, whether we are doing something of fundamental nature or of sentiIt should be reviewed from time to mental nature or for socio-political reasons. ­

Now, our modus vivendi, how we live together; can we look at it and change it? Yes, I agree. Why do I say so? What people are complaining of is not by the Constitution of Nigeria. The point they are making is that the centre is too powerful, that the states are not powerful. It is not due to the constitution. It is because of the la­ziness and weakness of Nigerians. The constitution is very clear that Nigeria is a federal state. In a fed­eral state, the centre is weak. The centre cannot dictate to the states. (The United States President, Barack) Obama cannot dictate to any state in America.

I have just discovered that until few months ago, some states were still flying the confederate flag, which was illegal. After the civil war of America, confederate flag, like the Biafra flag, was still flown in America and Obama could not touch them.

It is like saying that some East­ern States in the country are flying Biafra flag and Nigerian President cannot do the same thing that American President will do. The state is powerful in America.

Read Full Interview From Daily Sun Newspaper

Tam David-West and Wole Soyinka
In what could be described as 'teaching the teacher', a former Petroleum Minister, Prof Tam David-West has faulted a grammatical usage of a co-professor, Wole Soyinka.

Soyinka has some days ago, in an interview opined that the SOVEREIGNTY IS BLOODY NEGOTIABLE


David-West in a recent interview with the Daily Sun Newspaper described Syinka's submission as absolute rubbish and nonsense. He insists that the sovereignty of Nigeria is non-negotiable.

David-West said as excerpted from the Daily Sun Newspaper:

“I pre­pared myself for this interview because for a virologist to chal­lenge a Nobel Laureate, a profes­sor of Comparative Literature, on English word, it’s like committing suicide. But I will not commit sui­cide.”

The Nobel Laureate, Pro­fessor Wole Soyinka, said recently that the sover­eignty of Nigeria is nego­tiable. How would you ap­praise the comment?

Absolute nonsense. I am sur­prised that it came from somebody as eminent as Wole Soyinka. This is absolute rubbish, absolute non­sense. No sovereignty is negotia­ble. When something is sovereign, you cannot negotiate. He is talking nonsense. Nigeria’s sovereignty is not negotiable. The sovereignty of Nigeria and any other country is not open to negotiation.

Wole Soyinka should know much than I do as a virologist. I have evidence to support what I have said. I read the story in which he said the sovereignty of Nigeria is negotiable when I was in Abuja. I am very annoyed about it.

I know what Wole Soyinka said, with greatest respect, is absolutely not true. In case I am wrong, I have to phone some friends to get their opinions. I went back to the library and got five dictionaries to get the meaning of sovereignty. They are Black’s Law Dictionary (1999 Edition), Oxford Thesaurus (2001 Edition), Collins Dictionary (21st Century Edition), Oxford Il­lustrated Dictionary, and B.B.C. English Dictionary.

Wole, of course, will agree that he over-spoke. What he said was not correct, it is not true. Nige­ria’s sovereignty is not negotiable. Anything that is sovereign can­not be negotiated. .Sovereignty implies and conjures supremacy, absolute. You don’t negotiate ab­solute.

Great scholars wrote Ameri­can Constitution. They made one mistake that has been standing for 200 years. They said in the intro­duction, in order to have a more perfect union, we have decided to do so, so, so, so. I phoned an American friend, I told him that the founding fathers that wrote the constitution were great men, but they cannot have something that is more perfect. Perfect is absolute. You cannot have more perfect. You cannot qualify perfect. When something is perfect, it is perfect. There is no half of quarter perfect. It is absolute. So, any sovereignty is not negotiable because it is ab­solute.

Every sovereignty conjures ab­solute. You don’t negotiate abso­lute. It is either there is sovereignty or there is no sovereignty, there is no mid way. If it is sovereign, it is sovereign. Every sovereign state has absolute supremacy. What you cannot negotiate is supremacy. Ni­geria is an independent state. Ni­geria is a sovereign state.

The problem here is that we should separate between concep­tion and socio-political problem. Conceptually, there is no way you can negotiate sovereignty. But if it comes to socio-political con­sideration, what you are going to negotiate is not sovereignty, but modus vivendi. How you can live together can be negotiable, but it is impossible to negotiate the sover­eign state of Nigeria. It is impos­sible. It is not negotiable.

When I saw the headline of the story: ‘Nigeria’s sovereignty is negotiable, says Soyinka,’ I said it was possible that Wole Soyinka was misquoted. But I did not want to fall into the category of the people I call headline readers. So, many Nigerians are headline read­ers. They only read the headlines, they don’t read the substance. The headline may not be the same as the substance. So, I don’t want to be a headline reader and criticise. I read the story through and I be­came more annoyed. The headline was right. The full text quoted him that he said so. But the long and short is that no sovereignty is ne­gotiable.

Going through the story in which Professor Wole Soyinka was quoted to have said Nigeria’s sov­ereignty is negotiable, would you not rather say he was being figurative, because he said ‘we bet­ter negotiate it, not even at meetings, not at con­ferences, but everyday in our conduct towards one another?’

He cannot be figurative. Wole should know much better now. He cannot be figurative with some­thing as grave as that. That is triviality and I know, he is a very serious person. He is not figura­tive, he meant it, if you differen­tiate between conceptual aspect of sovereignty and geo-political aspect. Now, Wole Soyinka was taken away by geo-political, which is about decentralisation of the nation. Decentralisation of the country is completely different from loss of sovereignty. Decen­tralisation of the nation has to do with modus vivendi, how do we live together.

Many people think when you are talking about decentralisa­tion or restructuring of the nation, you are talking about sovereignty. They are not the same at all. They are completely different.

For few days, people have been talking about restructuring the country. But what is wrong with Nigeria is not structure. It is the people themselves. Somebody had written to the Guardian from Ilo­rin, he completely misunderstood what I said. There is no situation that is perfect. A state organisa­tion like the country is dynamic.

It should be reviewed from time to time. But in reviewing it from time to time, you must be very careful, whether we are doing something of fundamental nature or of sentiIt should be reviewed from time to mental nature or for socio-political reasons. ­

Now, our modus vivendi, how we live together; can we look at it and change it? Yes, I agree. Why do I say so? What people are complaining of is not by the Constitution of Nigeria. The point they are making is that the centre is too powerful, that the states are not powerful. It is not due to the constitution. It is because of the la­ziness and weakness of Nigerians. The constitution is very clear that Nigeria is a federal state. In a fed­eral state, the centre is weak. The centre cannot dictate to the states. (The United States President, Barack) Obama cannot dictate to any state in America.

I have just discovered that until few months ago, some states were still flying the confederate flag, which was illegal. After the civil war of America, confederate flag, like the Biafra flag, was still flown in America and Obama could not touch them.

It is like saying that some East­ern States in the country are flying Biafra flag and Nigerian President cannot do the same thing that American President will do. The state is powerful in America.

Read Full Interview From Daily Sun Newspaper

Buhari’s 1 Year A Colossal Waste - Fayose

Buhari’s 1 Year A Colossal Waste - Fayose

Buhari’s 1 Year A Colossal Waste - Fayose
President Buhari's one year in office has been described as a colossal waste by Ekiti State Governor, Dr. Peter Ayodele Fayose.

Fayose described the increment in the pump price of petrol as one of the gifts of President Mohammadu Buhari to Nigerians to celebrate his one year in office.

In a statement titled; “Petrol Price Increment as Buhari’s 1st Year Anniversary Gift to Nigerians” which he personally signed, the governor said the Federal Government was indirectly collecting N58.50 naira tax from suffering Nigerians on each litre of petrol they buy.”

The statement read; “Despite his electoral promise to reduce petrol pump price from the N87 per litre that he met it, President Mohammad Buhari increased the price to N145! With this increment, Buhari has further impoverished Nigerians.

“Nigerians should be reminded that on April 14, 2015, President Buhari’s ally and former Minister of Petroleum and Energy, Prof. Tam David-West, told Nigerians that Gen. Mohammed Buhari (who was then President-elect), will reduce the fuel pump price from N87 to N40 per litre. Buhari did not debunk this statement made by his friend and major supporter.

“Also, when the Peoples Democratic Party (PDP) government of Dr Goodluck Jonathan reduced the petrol pump price from N97 to N87 per litre in January 2015, former Lagos State Governor who is now Minister of Works, Power and Housing, Mr Babatunde Fashola said N10 reduction of the petrol pump price was too low and that Nigerians will get a better deal under Buhari. Fashola tweeted on January 18, 2015; ‘On PMS price reduction by N10. Now they listen. Oil the raw material drop over 50%, N10 is just about 10%. Good try but Nija can get a beta deal.’

“In rewarding Nigerians for electing him as president, President Buhari opted to increase petrol pump price by N58.50! 

“The first justification of the increment was removal of subsidy. But Nigerians were later stunned when the Vice President, Prof Yemi Osinbajo said pump price of petrol was increased because Nigeria wasbroke!

“In other words, President Buhari increased petrol pump price because the country was broke and it needed to shore up its revenue base. The N58.50 added to the previous pump price of N86.50 was an Indirect Tax imposed on each litre of petrol purchased by Nigerians.

“Simply put, the Federal Government is indirectly collecting N58.50 naira tax from suffering Nigerians on each litre of petrol they buy. Buhari is no doubt acting like the proverbial Agbalowomeri Baale Jontolo (Aking that exploit his extremely poor subject to further enrich himself).

“It is on record that on May 2 this year, the federal government, in the Petroleum Product Pricing Regulatory Agency (PPPRA) Template released in Abuja, told Nigerians that it was subsidising petrol at N12.62 per litre.

READ ALSO  20 Nigerian pilgrims die in Makkah “In 2012 when the Dr Jonathan removed fuel subsidy and increased petrol price to N141 per litre, crude oil was selling at $111 per barrel.

“If not wickedness, how can petrol price be increased to N145 per litre when crude oil is now selling at $49 per barrel?

“Increasing petrol pump price by N58.50 when the federal government claimed it was subsidising the product at N12.62 per litre is clear wickedness on the part of President Buhari.

“In the history of Nigeria, increase in price of petrol has never been as high as it was done by Buhari, putting Nigerians in severe hardship as the product affects every sector of the economy.

“Too bad, those who opposed removal of fuel subsidy in 2012 and funded the Occupy Nigeria protest are the ones canvassing support for this Buhari’s wicked one year anniversary gift to Nigerians.

“The labour unions are now completely cowed, dashing completely hope of the common people of Nigeria.

“Interestingly, this is not the first election promise by APC/Buhari that have been jettisoned since they got into office. The N5,000 unemployment benefits promised the downtrodden was derisively put down by this President as “largesse” with the president spurning the emotional plea of his own wife to the contrary. To add salt and insult unto injury, he traveled abroad to make the statement.

“Despite the mindless and indefensible hike in fuel price, the commodity is still not available. Minister of state for Petroleum says there is no forex to pay for fuel import; yet there is forex indulge Buhari’s foreign-trip profligacy.

“Presidential spin doctors and APC chieftains labouring to hoodwink the people speak glibly of how so-called deregulation will make products available, reduce cost through competition and the interplay of market forces as well as encourage private sector to build more refineries. But thank God who loves Nigerians so much, the lies of these people was by divine arrangement, I suppose, revealed by no less a person than the junior minister Ibe Kachikwu himself when he said importation of fuel continues till 2019.

“Nigerians should be reminded that the manner of hardship being faced now was also faced during Buhari’s first coming as a military dictator when people had to queue for essential commodities. Now, Nigerians can’t even afford common tomato to prepare soup.

“So Nigerians you have heard the truth: Under Buhari/APC, it is almost certain that our suffering will continue till 2019.

“Nigerians, remember I warned you before Buhari was elected; I have been warning you since Buhari became president and I am warning now that if nothing is done urgently, the economy of Nigeria will collapse.”
Buhari’s 1 Year A Colossal Waste - Fayose
President Buhari's one year in office has been described as a colossal waste by Ekiti State Governor, Dr. Peter Ayodele Fayose.

Fayose described the increment in the pump price of petrol as one of the gifts of President Mohammadu Buhari to Nigerians to celebrate his one year in office.

In a statement titled; “Petrol Price Increment as Buhari’s 1st Year Anniversary Gift to Nigerians” which he personally signed, the governor said the Federal Government was indirectly collecting N58.50 naira tax from suffering Nigerians on each litre of petrol they buy.”

The statement read; “Despite his electoral promise to reduce petrol pump price from the N87 per litre that he met it, President Mohammad Buhari increased the price to N145! With this increment, Buhari has further impoverished Nigerians.

“Nigerians should be reminded that on April 14, 2015, President Buhari’s ally and former Minister of Petroleum and Energy, Prof. Tam David-West, told Nigerians that Gen. Mohammed Buhari (who was then President-elect), will reduce the fuel pump price from N87 to N40 per litre. Buhari did not debunk this statement made by his friend and major supporter.

“Also, when the Peoples Democratic Party (PDP) government of Dr Goodluck Jonathan reduced the petrol pump price from N97 to N87 per litre in January 2015, former Lagos State Governor who is now Minister of Works, Power and Housing, Mr Babatunde Fashola said N10 reduction of the petrol pump price was too low and that Nigerians will get a better deal under Buhari. Fashola tweeted on January 18, 2015; ‘On PMS price reduction by N10. Now they listen. Oil the raw material drop over 50%, N10 is just about 10%. Good try but Nija can get a beta deal.’

“In rewarding Nigerians for electing him as president, President Buhari opted to increase petrol pump price by N58.50! 

“The first justification of the increment was removal of subsidy. But Nigerians were later stunned when the Vice President, Prof Yemi Osinbajo said pump price of petrol was increased because Nigeria wasbroke!

“In other words, President Buhari increased petrol pump price because the country was broke and it needed to shore up its revenue base. The N58.50 added to the previous pump price of N86.50 was an Indirect Tax imposed on each litre of petrol purchased by Nigerians.

“Simply put, the Federal Government is indirectly collecting N58.50 naira tax from suffering Nigerians on each litre of petrol they buy. Buhari is no doubt acting like the proverbial Agbalowomeri Baale Jontolo (Aking that exploit his extremely poor subject to further enrich himself).

“It is on record that on May 2 this year, the federal government, in the Petroleum Product Pricing Regulatory Agency (PPPRA) Template released in Abuja, told Nigerians that it was subsidising petrol at N12.62 per litre.

READ ALSO  20 Nigerian pilgrims die in Makkah “In 2012 when the Dr Jonathan removed fuel subsidy and increased petrol price to N141 per litre, crude oil was selling at $111 per barrel.

“If not wickedness, how can petrol price be increased to N145 per litre when crude oil is now selling at $49 per barrel?

“Increasing petrol pump price by N58.50 when the federal government claimed it was subsidising the product at N12.62 per litre is clear wickedness on the part of President Buhari.

“In the history of Nigeria, increase in price of petrol has never been as high as it was done by Buhari, putting Nigerians in severe hardship as the product affects every sector of the economy.

“Too bad, those who opposed removal of fuel subsidy in 2012 and funded the Occupy Nigeria protest are the ones canvassing support for this Buhari’s wicked one year anniversary gift to Nigerians.

“The labour unions are now completely cowed, dashing completely hope of the common people of Nigeria.

“Interestingly, this is not the first election promise by APC/Buhari that have been jettisoned since they got into office. The N5,000 unemployment benefits promised the downtrodden was derisively put down by this President as “largesse” with the president spurning the emotional plea of his own wife to the contrary. To add salt and insult unto injury, he traveled abroad to make the statement.

“Despite the mindless and indefensible hike in fuel price, the commodity is still not available. Minister of state for Petroleum says there is no forex to pay for fuel import; yet there is forex indulge Buhari’s foreign-trip profligacy.

“Presidential spin doctors and APC chieftains labouring to hoodwink the people speak glibly of how so-called deregulation will make products available, reduce cost through competition and the interplay of market forces as well as encourage private sector to build more refineries. But thank God who loves Nigerians so much, the lies of these people was by divine arrangement, I suppose, revealed by no less a person than the junior minister Ibe Kachikwu himself when he said importation of fuel continues till 2019.

“Nigerians should be reminded that the manner of hardship being faced now was also faced during Buhari’s first coming as a military dictator when people had to queue for essential commodities. Now, Nigerians can’t even afford common tomato to prepare soup.

“So Nigerians you have heard the truth: Under Buhari/APC, it is almost certain that our suffering will continue till 2019.

“Nigerians, remember I warned you before Buhari was elected; I have been warning you since Buhari became president and I am warning now that if nothing is done urgently, the economy of Nigeria will collapse.”

FUEL HIKE: FG's Decision STUPID, SENSELESS - Buhari's Friend, Prof. Tam David-West Blasts

FUEL HIKE: FG's Decision STUPID, SENSELESS - Buhari's Friend, Prof. Tam David-West Blasts

Prof. Tam David-West, a historical ally of President Muhammadu Buhari has described the Muhammadu Buhari-led federal Government's decision to hike the fuel price from N86 to sudden N145 per/liter as 'stupid' one, report according to TheEagleOnline suggests.

Our source says, Tam West banded with a historical adversary to rail against the new pump price of fuel, which caught consumers by surprise on Thursday, May 12, and scattered family budgets with the ripple effects.

Transport fares have gone up everywhere as a consequence, speeding off with the prices of everything from foodstuff, other household items, plus school fees, to the cost of a hair cut in small shops, and grinding pepper in open markets in Kano and Calabar.

Buhari’s right hand man, Tam David-West, picked holes in the hike in fuel price from N86 to N145 per litre.

The professor of virology and former petroleum minister argued from Ibadan that the increase announced by Minister of State for Petroleum, Ibe Kachikwu, does not make sense.

His view resonated up North with Buhari’s traditional critic, former Kaduna State Governor, Balarabe Musa, who accused the president and his All Progressives Congress (APC) members of fleecing Nigerians to amass a war chest for the general election in 2019.

Importing at N86, selling at N145

“It is stupid for two reasons. First, the same NNPC (Nigerian National Petroleum Corporation) a few days ago was filling petrol stations and selling fuel for N86. How can you turn around a few days after to say N145?” David-West asked.

He said the stock now sold at N145 per litre had been imported before the announcement.

“No new petroleum has come in. It takes two weeks for vessels from Europe to arrive Nigeria. There is something wrong with the logic.”

Deregulating, fixing price

The second abnormality with the increase, David-West insisted, is the directive to marketers not to sell above N145.
“How can you say people should import fuel and you tell them how to sell it? It is stupid. You cannot tell a private man to import fuel into the country, and when it arrives the government will now tell him how much to sell it.
“It is stupid. It negates basic economic principles. When I see Buhari, I will make a formal statement. I cannot see how they can justify it.”

Other queries

David-West said he has noted 12 areas to take Kachikwu on, not only on fuel price, but also how the NNPC is run.

“But if I say it now, they will misunderstand me. They would say I want to be minister. I don’t want to be minister. My record there is clear.

“Okay, look at what [Kachikwu] said – that there is hydrocarbon in every part of Nigeria; which is not possible. He is saying a lot of things that are outrageous.

“When the time comes I will take him on. I don’t want to say it now so that it is not misunderstood. I want to see Buhari first.”

David-West said he believes that Buhari does not know what Kachikwu was cooking before the hike.
“Buhari is not in the country. They rushed it because they knew that if he was around he would not allow them. You increased petrol price to N145, and you said immediately, like a military dictator.”

David-West argued that he was wrongly quoted that fuel was going to sell for N40 per litre once Buhari got into office.

“I said if they removed 14 items they are adding to pump price which should not be there, petrol would sell for N40 per litre.

“There are a lot of things they added to inflate it. That is cheating.

“They are adding NPA (Nigeria Ports Authority) charge, jetty depot price, storage payment, margin for retailers, bank charges, transportation from Europe, bridging, and all sorts of things.

“If they remove all these, petrol price will come down to N40. A Nigerian professor of petroleum in Texas has confirmed my figure.

“Let me tell you about bridging. When I was minister, bridging was paid by the government, not by consumers.

“I met N400 million in the bridging account when I was minister. If you take petrol from Port Harcourt to Sokoto, the government pays for the haulage, not consumers.”

Prof. Tam David-West, a historical ally of President Muhammadu Buhari has described the Muhammadu Buhari-led federal Government's decision to hike the fuel price from N86 to sudden N145 per/liter as 'stupid' one, report according to TheEagleOnline suggests.

Our source says, Tam West banded with a historical adversary to rail against the new pump price of fuel, which caught consumers by surprise on Thursday, May 12, and scattered family budgets with the ripple effects.

Transport fares have gone up everywhere as a consequence, speeding off with the prices of everything from foodstuff, other household items, plus school fees, to the cost of a hair cut in small shops, and grinding pepper in open markets in Kano and Calabar.

Buhari’s right hand man, Tam David-West, picked holes in the hike in fuel price from N86 to N145 per litre.

The professor of virology and former petroleum minister argued from Ibadan that the increase announced by Minister of State for Petroleum, Ibe Kachikwu, does not make sense.

His view resonated up North with Buhari’s traditional critic, former Kaduna State Governor, Balarabe Musa, who accused the president and his All Progressives Congress (APC) members of fleecing Nigerians to amass a war chest for the general election in 2019.

Importing at N86, selling at N145

“It is stupid for two reasons. First, the same NNPC (Nigerian National Petroleum Corporation) a few days ago was filling petrol stations and selling fuel for N86. How can you turn around a few days after to say N145?” David-West asked.

He said the stock now sold at N145 per litre had been imported before the announcement.

“No new petroleum has come in. It takes two weeks for vessels from Europe to arrive Nigeria. There is something wrong with the logic.”

Deregulating, fixing price

The second abnormality with the increase, David-West insisted, is the directive to marketers not to sell above N145.
“How can you say people should import fuel and you tell them how to sell it? It is stupid. You cannot tell a private man to import fuel into the country, and when it arrives the government will now tell him how much to sell it.
“It is stupid. It negates basic economic principles. When I see Buhari, I will make a formal statement. I cannot see how they can justify it.”

Other queries

David-West said he has noted 12 areas to take Kachikwu on, not only on fuel price, but also how the NNPC is run.

“But if I say it now, they will misunderstand me. They would say I want to be minister. I don’t want to be minister. My record there is clear.

“Okay, look at what [Kachikwu] said – that there is hydrocarbon in every part of Nigeria; which is not possible. He is saying a lot of things that are outrageous.

“When the time comes I will take him on. I don’t want to say it now so that it is not misunderstood. I want to see Buhari first.”

David-West said he believes that Buhari does not know what Kachikwu was cooking before the hike.
“Buhari is not in the country. They rushed it because they knew that if he was around he would not allow them. You increased petrol price to N145, and you said immediately, like a military dictator.”

David-West argued that he was wrongly quoted that fuel was going to sell for N40 per litre once Buhari got into office.

“I said if they removed 14 items they are adding to pump price which should not be there, petrol would sell for N40 per litre.

“There are a lot of things they added to inflate it. That is cheating.

“They are adding NPA (Nigeria Ports Authority) charge, jetty depot price, storage payment, margin for retailers, bank charges, transportation from Europe, bridging, and all sorts of things.

“If they remove all these, petrol price will come down to N40. A Nigerian professor of petroleum in Texas has confirmed my figure.

“Let me tell you about bridging. When I was minister, bridging was paid by the government, not by consumers.

“I met N400 million in the bridging account when I was minister. If you take petrol from Port Harcourt to Sokoto, the government pays for the haulage, not consumers.”


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