According to the Fuel consumption Statistics  published by the Nigeria Office of Statistics, the average daily consumption of PMS in Nigeria is between 41m and 52m litres per day. This was the statistics in 2016. It means that the total Annual consumption will be 365 x 41m, ie 14,965million litres, or simply put, 15Billion litres per year. The figure has now risen to 55m litres in 2018 .
At the current retail price of N145 per litre, it means the total annual expenditure of Nigeria on PMS is N2,169Bn or N2.1Tn. Is is therefore disturbing to read in the news that Nigeria spends N774m daily on fuel subsidy . Continue reading “PMS Deregulation: Buhari’s unfulfilled promise”
Vision: The ability to dream and come up with an idea that leap frogs the people being led, to give them a better life not later, but soonest. “Now Joseph had a dream, and when he told it to his brothers they hated him even more” — Gen 37:5.
I recommend you read “Challenges for the race of excellence” That was the vision of the ruler of Dubai. https://en.wikipedia.org/…/My_Vision:_Challenges_in_the_Rac…
Nigerians will get new ministers and ministries tomorrow. If the President scraps the Communication Technology Ministry, it will be a colossal loss for those of us who worked hard to nurture the ICT industry, but i will not blame PMB one bit. When the President came 30 years ago, there was NITEL. There was no Facebook, no google, no twitter and no MTN. Oil was the only earner.
Today, Google is worth $360bn, Facebook is worth $200bn, and NCC is worth $5bn. Reckoning just the fine MTN has to pay Nigeria within the next 2 weeks, while ignoring the cost of digital mobile licenses.Of course, NITEL is dead.