I can never understand how the black (Nigerian) man thinks. You are exposing your economy and citizens to the vagaries of the international oil market for a product whose raw material you have in abundance! And then, to justify the absurdity, you point me to countries without a single drop of crude oil or with dissimilar economic realities. Tueh! Why can't we refine our crude oil locally and trade it in our local currency? That should be the focus and preoccupation of every serious government and citizen.

By the way, I have maintained from 2016 when Buhari/Ibe Kachikwu began this new arrangement that the government cannot fix price of PMS and yet claim to have deregulated or removed subsidy. That is simply hogwash. It is all a means of government raising income by pushing its inefficiencies to hapless citizens. This becomes obvious when we realise that the NNPC has been engaged in Crude Oil Swap over the years in the name of subsidy payment/arrangement.

ODN.