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The Bogey of fuel Subsidies

In spite of former President Obasanjo’s intimidating presence, his attempts to deregulate the pricing of petroleum products (particularly P.M.S./petrol) hit a brick wall. Consequently, the value of subsidies has steadily increased from less than N100bn a year to over N1,000bn, and may exceed 20% of the proposed 2012 budget according to media reports.

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THE BOGEY OF FUEL SUBSIDIES

In spite of former President Obasanjo’s intimidating presence, his attempts to deregulate the pricing of petroleum products (particularly P.M.S./petrol) hit a brick wall. Consequently, the value of subsidies has steadily increased from less than N100bn a year to over N1,000bn, and may exceed 20% of the proposed 2012 budget according to media reports.

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Collegiate presidency and national harmony

Under normal circumstances where political and public offices are geared towards the service of the people, there is little or no personal gain in capturing power or its retention. Very few Nigerians now believe the flowery promises that politicians make on their campaign trails, but we recognize the rapid transformation to affluence of these self-proclaimed servants of the people!

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The predictable failure of vision 2020

The Dream Economy envisioned in government’s “‘Vision 20:2020’ seeks to position Nigeria as one of the top 20 economies in the world by the year 2020. In economic terms, this translates to having a Gross Domestic Product (GDP) of at least US$900 billion by that date compared to about US$212 billion as at 2008″ – (Source: Nigeria Vision 2020 Economic Transformation Blueprint – pg. 26, work-in-progress as at 5/10/2009).

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