Petroleum subsidy, it is assumed, profits more Nigeria’s neighbours than Nigeria; and I say that it is a big fallacy. No matter how much they decide to sell petroleum product in the neighbouring countries, if well monitored, Nigeria could still be the gainer. Both Natural Gas and Crude oil, not wasting any like gas flaring, amount to 2 million barrels per day. Nigeria is still flaring gas, and exports more than Norway; and it has depleted its initial seed value of $1billion sovereign wealth. Call it HDI and SDG (Sustainable Development Goals) linked investments, and factor-in, from the feasibility report process, such retrievable subsidy contents as they impact on human beings’ lives.

Source: The Guardian March 15, 2021 02:00 UTC