NIGERIA GOVERNMENT IS A BIG SCAM>>Common Sense 40 It costs and average of $50 million to build a 7500 barrels per day capacity Modular Refinery. A billion dollars would build 20 of these

Common Sense 40
It costs and average of $50 million to build a 7500 barrels per day capacity Modular Refinery. A billion dollars would build 20 of these. 20 of such would increase the refining capacity of 150,000 bpd. The current capacity is 450bpd of which capacity utilization is about 40%.
Now, government doesn't have business doing business. Rather than the federal government to build these 20 modular refineries themselves, a bid be thrown open to invite firms to build and operate these refineries whereby the federal could give them $50 million each as loans which would be recovered from sales over (say) a 10 year period. The federal government would then make even more money by collecting sales tax, corporate tax, personal income tax and environment tax.
An increase in refining capacity of 150bpd would halve the fuel import of Nigeria which is estimated at about $20 billion per annum. Doing this for two consecutive years would make the constant fuel scarcity disappear. Privatizing the current refineries would bring serious competition into the fray. And prices shall be driven by market forces.
The effects of the total nonparticipation of the federal government in refining cannot be overemphasized! We posit that private control of refining, import/export of petroleum products would add at least 2% to the GDP growth rate. We posit that an increase in refining capacity of 300,000bpd would add 10,000 direct jobs and over 100,000 indirect jobs! The depletion of the foreign exchange would be arrested by at least $20 billion and the exchange rate would stabilize...Nigeria becomes more commercially and fiscally viable. And the tax incomes to the regional and federal governments increased. Basic Arithmetic; Street Smart Governance!
All the government needs to do would be to get out of the way. Allow those to import do so unfettered while the refineries are under construction. Place a time limit. Subsidize no one!
But would the federal government do so? Atrociously high amount is budgeted yearly to subsidize refineries in Europe and Africa while we lack refineries here! We spend our budget to create jobs while 23 million people are unemployed here! Jeez!!!
A billion dollars has been budgeted the end of the fiscal year, we would have spent 3 billion dollars on subsidies. What we consume yearly on subsidies would double the refining capacity. But the government is not interested in solving this problem. They have employed their obnoxious Constitution to place refining and petroleum products under the Exclusive List; then used the Petroleum Act to seal off its life! So they're able to budget for it yearly under imports and subsidies, then employ different accounting methods to siphon that aspect of them budget!
Oh! They're fighting corruption? The 1999 Constitution is the Standard Document for the Legalization of Corruption. The Federal Budget (and state budgets) draws its inspiration from that Constitution of Illegality! They 2019 Budget is that of Legalized Stealing, Government Stupidity and National Disgrace! The Nigerian Government is a study in idiocy!
Common Sense says we should torpedo this Constitution and replace it with a saner version. Common Sense says that those federal and state budgets can NEVER develop this country in any way whatsoever in the next 50 years. Common sense says that the very reason why the government could get away with fiscal murder and stupidity is the Constitution! Rather than us to fight for a new Constitution, we got caught up in the APC/PDP Nollywood movie for kindergartens! We have abandoned the things that would profoundly change our lives for those that would continue to have negative effects on us!
You don't chase rats while your abode is ablaze! It's common sense! In Nigeria, we go after the rats with vengeance...and the house is razed to the ground! Then we turn around and blame God! Please, what else is insanity?
We must #restructureOrBurst or continue to wail while they steal us blind with their ridiculous budgets!

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