Thread of Deception: Nigeria’s Subsidy Burden

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By Umar Yakubu

 

What if we built more refineries, a vision we hold dear, to accommodate our growth, as population does appear. No longer letting our refineries decay, year after year, preserving their essence, their value held near.

What if the funds earmarked for Turn Around Maintenance were truly utilized, not lost in mismanagement’s trance, billions of dollars, a substantial inheritance, to rejuvenate our refineries, enhancing their stance.

What if we sought justice, prosecuted those to blame, the Ministry of Petroleum and NNPC staff with shame, misappropriation of funds, a grievous, wicked game, accountability prevailing, restoring honor’s flame.

What if foreign companies, involved in deceit, partaking in phony maintenance schemes, their fraud discreet, we blacklisted and prosecuted, a message complete, integrity upheld, ensuring our industry’s heartbeat.

What if we privatized, corruption out of sight, realizing control was a futile fight, Dangote and others, their expertise taking flight, a transformed sector, shining ever so bright.

What if in 2007, when the sale was done, we fully liberalized, giving competition a run, unleashing the potential, a new era begun, a vibrant market, where progress can be won.

What if we didn’t reverse, the sale once complete, the comatose refineries, their fate bittersweet, but if we had thought, before facing that feat, a comprehensive plan, a future we’d meet.

What if, after reversing, we laid out a new scheme, a strategy with purpose, a well-thought-out dream, resurrecting the refineries, as a united team, reviving our industry, like a flowing stream.

What if we had allowed the good intentions of subsidy regime, where it hovered between N351 billion ($2.66 billion) in 2005, and N416.45 billion ($2.76 billion) in 2010, our strive, for stability and growth, a precarious theme.

What if The Shoeless One had not in 2011, within one year, made the payment of N1.9 trillion ($12.18 billion), a monster, a sudden burden we faced, shedding a tear, in search of solutions, to make it all clear.

What if we had succeeded in curbing organized crime, not allowing it to reach N4.39 trillion ($9.7 billion) in time, under Mallam Yawale Dogo in 2022, a paradigm, staff of NNPC sticking to duties, not of dollars.

What if staff of PPPRA would not connive with marketers, submit false claims,diiligent officers of Customs would spot 900 trucks per day, hold their aims, vigilant policemen making confiscations, tackling economic games, and the gallant DSS officers apprehending, their dedication aflame.

What if the eagle-eyed officers of EFCC prosecuting, distorting criminal ways, the NFIU realizing its core mandate, disrupting illegal pays, the CBN applying deterrent penalties, making criminals face, Financial Institutions held accountable, no more evil strays.

What if these dreams became reality, a nation united, combating illegality, starting with inner soul searching, a petroleum sector devoid of fallacy, a prosperous future, our shared mentality.

What if we dared to envision a future anew, a synergy of efforts, bringing dreams into view, where corruption’s grip weakens, integrity in lieu, a nation rising, with opportunities to pursue.

Let us strive for these “what ifs” with ardor and might, guided by principles, ensuring what’s right, together we stand, as we work day and night, to shape a better future, where hope takes flight.

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