MIND BLOWING FACTS ABOUT NIGERIAN FUEL

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So here's my take on the fuel pump matter, let me say it now and very clearly too,  we are finished. 

1. NNPC provides only 50% of fuel in Nigeria, the remaining 50% is from independent marketers. 

2. The main reason behind the initial fuel drought was that CBN IS BROKE. Independent marketers up until three months ago sourced their foreign exchange from the Central Bank of Nigeria at the official rate. However, since late last year, independent marketers have brought in little or no fuel because they have been unable to get foreign exchange from the CBN. According to the presidency, ."THE CBN SIMPLY DID NOT HAVE MONEY" --Osibanjo

3. The 135 Naira and 145 Naira per litre” thingy is a GAMBLE. According to the presidency "independent marketers and any Nigerian entity to source their own foreign exchange and import fuel. We expect that foreign exchange will be sourced at an average of about 285 Naira to the dollar, (current interbank rate). They would then be restricted to selling at a price between 135 Naira and 145 Naira per litre”......  with competition, more private refineries, and NNPC refineries working at full capacity, prices will drop considerably" this is the ultimate sacrifice for our next generation because we probably won't live that long under our circumstances. 

4. The fuel problem is a mirage, The more you look, the less you see. Our wonderful magician and chief gambler said "This is therefore not a subsidy removal issue but a foreign exchange problem, in the face of dwindling earnings"

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