The Jonathan-metricks Of Fuel Subsidy Scam By Ogunyemi Bukola

One of the factors that encouraged my failed attempt at studying Medicine at the University is my passionate dislike for mathematics. I literarily can’t stand numbers and the magic that comes
with mathematical procedures. But President Goodluck Jonathan in his infinite capacity for the miraculous sent me back to school for extra classes in Basic Arithmetic on Tuesday 11th December when I read a report that the President had made a request to the National Assembly for a Supplementary amount of N161 billion as fuel subsidy payment for the remaining three weeks in this year as, according to him, the original N881 billion budgeted for that purpose for the whole of the year had been exhausted.
Now, there is no reason to suspect our dear President of falsehood, but the Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala had on October 21 said
the N888 billion allocated for subsidy payments in the 2012 budget should be enough to pay petroleum product importers and that government might not need supplementary appropriation for subsidy payments in 2012. So I thought maybe Mr. President had been misled, yet again, by his retinue of ineffective, over-paid aides into submitting a supplementary budget
request for the wrong purpose, or maybe there was a typographic error on the request paper and Mr. Jonathan meant to ask for N16.1 billion, or N1.61 billion. Anyway, I brought out my calculator to crunch some numbers to see where lays the error.
Just so you know how big N161 billion is, at least in budgetary terms, consider how it compares to some selected allocations in the 2013 Budget
Proposal presented by President Goodluck Jonathan to the National Assembly some weeks back:
The N161 billion for 3 weeks fuel subsidy is:
almost twice the total allocation for Agriculture in 2013 (N81 billion times 2 = N162 billion);
more than twice the total allocation for Power in 2013 (N74 billion times 2 = N148 billion);
more than thrice the total allocation for Water Resources in 2013 (N47 billion times 3 = N141 billion);
more than twice the capital allocation for Education in 2013 (N60 billion times 2 = N120 billion);
almost thrice the capital allocation for Health in 2013 (N55 billion times 3 = N165 billion);
more than the capital allocation for Works in 2013 (N151 billion);
more than twice the total allocation for Niger Delta in 2013 (N63 billion times 2 = N126billion).
The N161 billion for 3 weeks fuel subsidy is more than twice the Statutory Transfer for Universal Basic Education in 2013 (N72 billion times 2 =144 billion);
more than twice the Statutory Transfer for Niger-Delta Development Commission in 2013 (N57 billion times 2 = N114 billion),
more than the Statutory Transfer for the National Assembly in 2013 (N150 billion).
Indeed, the N161 billion for 3 weeks fuel subsidy is more than the sum total of the 2013 total allocation for Science and Technology (N31 billion), Mines and
Steel (N13 billion), Environment (N21 billion), Lands and Housing (N24 billion); Aviation (N53 billion) (sum total = N141 billion).
Now that we know just how big the additional N161 billion Mr. President is asking for is, please follow me diligently as we go through the arithmetic of year 2012 fuel subsidy payments. Please note that some of the figures used here are approximates.
First let’s go through the basics:
There are 52 weeks in year 2012, out of which we have spent 49 weeks, with 3 weeks left. So far, we have spent N881 billion on fuel subsidy for 49 weeks, which translates into about N18 billion per week, N2.6 billion per day, N107 million per hour, N1.8 million per minute.
According to Mr. President, we need an additional N161 billion to pay for fuel subsidy for the remaining 3 weeks in the year, which translates into about N53.7 billion per week, N7.7 billion per
day, N319 million per hour, N5.3 million per minute.
How much is fuel subsidy?
On January 1st 2012 when the government of Goodluck Jonathan decided to completely remove subsidy on fuel, one litre of PMS sold for N141.
After the OccupyNigeria nationwide protests and help from Labour Unions, government agreed to a partial subsidy regime, with PMS to sell for N97 per litre. This means that actual subsidy on one litre of PMS is N44 (N141 minus N97). How much fuel can we subsidize with N881 billion?
How many litres of fuel can we subsidize with N881 billion at the rate of N44 subsidy per litre? N881 billion divided by N44 = 20 billion litres. So the federal government has used N881 billion to, benevolently, subsidize 20 billion litres of fuel between January and now, which puts consumption at 20 billion litres in 49 weeks, 408 million litres per week, N58 million litres per day, 2.5 million litres per hour. How much fuel can we subsidize with N161
billion? So how many litres of fuel can we subsidize with N161 billion at the rate of N44 subsidy per litre? N161 billion divided by N44 = 3.7 billion litres.
So the federal government is going to use N161 billion to, benevolently, subsidize 3.7 billion litres of fuel between now and the end of the year,
which puts projected consumption at 3.7 billion litres in 3 weeks, 1.2 billion litres per week, 174 million litres per day, 7.3 million litres per hour. So government estimates that Nigerians are going to consume three times more fuel in the next three weeks than they did at any point during the past 49 weeks. How much is fuel subsidy for the entire year?
If the National Assembly approves the N161 billion Fuel Subsidy Supplementary Budget request as made by Goodluck Jonathan, total amount spent on fuel subsidy in year 2012 would be:
Amount spent on fuel subsidy for 49 weeks (N881 billion) plus Amount to be spent on fuel subsidy for 3 weeks (N161 billion) = N1.042 trillion
N1.042 trillion spent on fuel subsidy in 52 weeks translates into about N20 billion per week, N2.85 billion per day, N119 million per hour, N2 million per minute. How much fuel can we subsidize with N1.042 trillion?
So how many litres of fuel can we subsidize with N1.042 trillion at the rate of N44 subsidy per litre? N1.042 trillion divided by N44 = 23.7 billion litres. So the federal government is going to use N1.042 trillion to, benevolently, subsidize 23.7 billion
litres of fuel for the whole of year 2012, which puts consumption at 23.7 billion litres in 52 weeks, 455 million litres per week, 65 million litres per day, 2.7 million litres per hour.
How much fuel do Nigerians actually consume per day?
The answer to this question depends on the source you consult. According to Mr. Enoch Kenawa, the Secretary of the Oil Marketers Association, it is 35 million litres per day; according to Mr. Reginald Stanley, the Executive Secretary of the Petroleum Products Pricing and Regulatory Agency (PPPRA), Nigeria imports 59 million litres of fuel per day, but Nigerians only consume 35 million litres, while the remaining 24
million litres are unaccounted for; while the Nigerian National Petroleum Corporation puts national daily consumption figures between 30 and 33 million litres. So we can safely assume Nigerians consume 35 million litres of fuel per day, which translates into about 245 million litres per week and about 13 billion litres for the entire year. Subsidy figures based on national daily consumption:
If Nigerians consume 35 million litres of fuel per day, and government pays a subsidy of N44 on each litre: Subsidy payment per day: 35 million litres times N44 = N1.54 billion per day
Subsidy payment per week: 35 million litres times N44 times 7 = N10.8 billion
Subsidy payment for 3 weeks: 35 million litres times N44 times 7 times 3 = N32.3 billion Subsidy payment for 49 weeks: 35 million litres times N44 times 7 times 49 = N528 billion Subsidy payment for a year: 35 million litres times N44 times times 365 = N562 billion
* Please note that the combined daily fuel productions of Nigeria’s four refineries, which are not subsidized, were ignored in this calculation to
avoid complications.
* Also note that fuel was not subsidized for the first 3 weeks of year 2012.
The federal government claims to have spent N881 on fuel subsidy for the past 49 weeks when in fact that actual amount should be N528 billion. The federal government proposes to spend N161 billion on fuel subsidy for the next 3 weeks when the actual amount should be N32.3 billion. If request for supplementary fund is granted, the
federal government would spend a total of N1.042 trillion on fuel subsidy in year 2012 when the actual amount should be just about half of that (N562 billion).
The difference between government’s claims and actual amount is: N480 billion. Haven taken you through the rigours of how big, in budgetary terms, N161 billion is, I won’t take you through
that stress for N480 billion. But do note that N480 billion is almost 3 times N161 billion. Every single day in year 2012, for all of the 365 days in the year, including public holidays, and
Sabbaath days which God asked us to keep holy, Goodluck Jonathan is short-changing Nigerians to the tune of N1.3 billion. N1.3 billion disappears from the coffers of the nation, goes into the pockets of the croonies of the criminals in power, and someone somewhere writes on that monumnetal fraud: Fuel Subsidy!
Every single hour in year 2012, N55 million disappears under the government of Goodluck Jonathan. Mr. President has installed an Automated Looting Machine into the cashware of
the nation’s finances., he called it Fuel Subsidy.
The machine dispenses N55 million every hour, almost N1 million per minute, round the clock. And that machine is about to get really busy in
the next three weeks, if the National Assembly rubberstamps that N161 billion request.
Mr. President has declared an end of the year bonanza for his friends, it would cost the nation N161 billion.

In closing, I bring you the words of Mr. Enoch Kenawa, the Secretary of the Oil Marketers Association via the Punch, he said: “We have said it continuously in the past that the N888bn fuel subsidy budget for 2012 was inadequate but the finance minister has been proving stubborn and deceiving Nigerians that the amount would be enough. We have been in this business for a long time and we know what the trends are. I am
happy that our position has been justified. We are calling on the National Assembly to quickly pass request of the President so that supply of products can increase. Once the money is approved, Nigerians are assured of a good holiday period to ensure adequate supply of fuel during Christmas.”
There, brethren, is the handwriting on the wall, in bold letters for all to see.

Key Actors:
Oil Marketers: The bride of a looting regime; wants business to continue as usual.

Ngozi Okonjo-Iweala: after the resurrection of her conscience, refused to release funds for the yuletide looting bonanza.

Diezani Alison-Madueke: Daddy’s girl, angry with her born again sister, reports her to big daddy.

Goodluck Jonathan: promised to create wealth, presents an end of the year, chop make I chop proposal to the National Assembly.

National Assembly: asking “what’s in this for us?”

Nigerians: Cheated, deceived, robbed and raped, suffering diligently, smiling cheerfully.

Ogunyemi Bukola (@zebbook): The writamatician, he advises all Nigerians to take classes in calculus as the knowledge of partial differentials may prove useful in the understanding of the 2013 version of the Jonathan-metricks of fuel subsidy scam

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TEDxUniversityofIbadan (Creating Meaning)


TED is a nonprofit devoted to Ideas Worth Spreading. It started out (in 1984) as a conference bringing together people from three worlds: Technology, Entertainment, Design. Since then its scope has become ever broader. In the spirit of ideas worth spreading, TEDx is a program of local, self-organized events that bring people together to share a TED-like experience. At a TEDx event, TEDTalks video and live speakers combine to spark deep discussion and connection in a small group. These local, self-organized events are branded TEDx, where x = independently organized TED event.

The conveners believe passionately in the power of ideas to change attitudes, lives and ultimately, the world. So they are building here a clearinghouse that offers free knowledge and inspiration from the world’s most inspired thinkers with the theme: Creating Meaning.

Speakers for this August Event are:

  • Mr.  Remi Okunlola, Cofounder & Executive Director, Seawolf Oilfield Services…

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The Nigerian University Geography Student Association (University of Ibadan Chapter) Organized the first of its kind Inter-varsity Debate in honour of three Emeritus professors (Prof. R.K Udo, Prof. F Faniran and Prof. Filani) all in the Department of Geography University of Ibadan on the 3rd of March, 2013. This grand event hosted eight Universities including the University of Ibadan, Geography department.

Though more than eight Universities were invited but only seven honoured the invitation excluding the University of Ibadan which was the host of the event.

The Universities include;

1.       Ladoke Akintola University of Technology which was represented by Elujoba Adejoke Daniel and Malomo Emmanuel O who were first and second speaker respectively

2.       Olabisi Onabanjo University represented by Adeoshun Aderonke (first speaker) and Ogunjimi Oluwayomi (second speaker)

3.       University of Ilorin whose speakers were Amole Stephen Oluwole being the first speaker and Adansere John being…

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My IBADAN-2020, a Poem by Olujide Hycon Ayomide



Towering tall among peers of the West

Undoubting strength, people’s best

House of riches, home of beauty

Buried in the cleft of forgotten history

Oh! My Ibadan

Like the phoenix, rising from the ashes

A new city, emerging from the relics

Like the new bride, eyeing the huge dowry

Mother’s jewel, father’s glory

My Ibadan

Beat the gong, sound the cymbals

Far and near, close and yonder

Tell the story, anew, not as of old

To the infants and the adults, young and old

My Ibadan

Beacon of light in thick darkness

Shinning forth in utter brightness

Sweeping through the town and the gown

Putting smiles on face black and brown

My Ibadan

From the ghettos of Beere and Oje

To the urban-affluent of Oluyole

From the hurly-burly of Dugbe and Ojoo

To the beautiful estates of Bodija

My Ibadan

The poor, the wretched

Eyes wiped of once…

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Her name is zLARA and she’s a terrorist

I remember once lara and I were playing and I asked her where and how we met because she choked my life to the point I couldn’t breathe. I sarcastically told her I regret meeting her and that she’s a threat to my life, that’s because I doubt if she’s ordinary, her trouble is just too much. You can’t have a challenge and be thinking beside lara, she’s such a wonderful lively creature. Its good, but she always forget that I’m a man and I have to think sometimes even if there’s no challenge (olodo someborry).

Anyways, I wonder if uncle ‘skunki’ (Lara slaps me)… sorry, Sunki… thinks he can have a monopoly of such a wonderful lady…errm, I’m not saying forever o,but till u put the ring on it, some of us will not stop carrying lara, I mean, lift lara above the ground while playing with her (I know Faby banks is reading this, he’s a culprit…loool)

As a man of few words that I am, I’d love to summarize lara because she’s not long herself, she’s very brief and close to the ground…she loves short bread, she gives every life challenge a shot, her best game? Shot put of course…I remember teaching her how to shoot as a general, I was thinking she would go to my armoury to pick up a bazooka or AK47 riffle…my lovely lady went for a Shot gun… Without leaving her wonderful spiritual life out, her favorite scripture, John 11;35…of course, the shortest verse in the bible..In short, I’m short of words…..LMAO>

But seriously, jokes apart, you know that saying; Real friends greet each other with insults? Lara is one lady who have seen my playful side the most asides my lovely twin sisters, u will think we are sumo wrestlers when we start playing or maybe, you will likely doubt if we are born again shaaa…loool…I use any kind of words when we are playing, there are no bounds, no limits, we share true agape love, like siblings… the way she brings me out of moods many a times is magical.. That’s her uniqueness.
Where we draw the line is how we don’t fail to tell ourselves the truth…the other chipmunks (Faby, and Sister Simi) know this!

I have to go; I’m running late for church…I’m still surprised how I woke up to start writing about lara before going to church though (maybe she’s a witch for Jesus….loool)

Happy birthday Lara oroo, I love you more than you can ever imagine…I wish you the very best in life, today and forever (of course u know that)…Love u scatter…azzin I love you to pieces…ore aiyeeee! Friend of LIFE!!! LMAO!!!!

Odekunle Ayokunle: In my president’s shoes


A famous man once said “Never criticize a man unless you walk in his shoes”. True! Another saying has it that only the person wearing a shoe would be able to know where it pinches. So when you see a babe doing ‘fine girl’ with a multitude of wigs on her head, you won’t be able to decipher the pain she is going through just by looking at her. You should probably put on the wig too to have an inkling of the pain she is undergoing.

The above illustration doesn’t work in Nigeria actually. People are so filled with magical powers that when they see you putting on Timberland boots, they can decipher the part of your toe that hurts you.

Here in Nigeria, you see a lot of QWERTY activists and POLITWEETERS (err I didn’t say Nasir El-Rufai) who shout revolution while hiding under their beds; you will see people tweeting about starting a revolution in Nigeria even when they are tweeting from Australia or from their mansions at Asokoro. Here is a country where everybody knows the solution to every national problem or let me say where they feel they know how things should be done but have failed in their roles as fathers over a family of 6.

I have always refrained from joining these bandwagon of ‘know-alls’ who hide under the ‘umbrella’ of Twitter to rain insults on the President, his family, Labaran Maku, Doyin Okupe, Reuben Abati et al. I for one believe that there is more than meets the eyes as regards Nigeria’s problems.

Nigeria’s problems?

Ah! They are never ending, always increasing. There is a problem every week in Nigeria. Even where there is no problem, some Nigerians would always look for one or engage prayer warriors to appease God to dash us one.

Some sensational blogs and newspapers never report good news as they know that their papers sell and have more traffic on their blogs when they report bad news specifically as it involves President Jonathan or PDP… Reporting bad news is their specialty (I didn’t mention LEADERSHIP NEWSPAPERS AND SAHARA REPORTERS o).

So the problem that is ‘reigning’ is the issue of AMNESTY for Boko Haram. To be or not to be?

Today, I would cease to be the Lawyer-Corper who is still hustling to be somebody big in life before he dies, sooner or later (hopefully later). I would assume the mantra of the President, Commander-In-Chief of the Armed forces with the whole Security apparatus under me. So for now, Mr Goodluck Jonathan would take my place as the Lawyer-Corper while I assume his position as President. (Wide Grin).

I would put on his fedora hat and his shoes (thank God he has shoes now) and frame my mind like I am the president and also think like I am the President

So how would President Odekunle Ayokunle esq GCFR treat the Boko Haram issue? Bear this in mind that he wakes up one morning and he learns that another beer parlour in Borno has been bombed, then Mr ‘Lie’ Mohammed of the ACN in his normal garrulous self issues a press statement from his comfort zone in Ilorin (the press report would be addressed to have been released from Lagos) where he lambasts President Ayokunle Odekunle for failing to tackle the Boko Haram impasse.

While I am still reading that and instructing Okupe to give him his ‘dose’, Mr Rotimi Fasakin of CPC already issues his own damning statement where he asks me to resign for failing to protect the lives of Nigerians because he expects me to go around with SMGs and AK47s combating Boko Haram. While Okupe is trying to ginger so as to tackle them, Omojuwa, El-Rufai, Ayourb and other Twitter Voltrons have already taken to twitter to call for my head. I am confused.

Now, as President, my head is threatening to burst as there are many other things I have to think about (PHCN, infrastructure, noisy opposition, etc). I go somewhere quietly to think and ask nobody to disturb me. These Nigerians want to drive me mad.  I am praying to God for guidance to solve this Boko Haram issue.

Bear in mind that Nigerians are divided over this subject; while those from the North see nothing wrong with granting amnesty to their ‘brothers’, those from the South are already screaming ‘Betrayal’ on my path by trying to grant amnesty to terrorists.

How would I treat the issue and what are my options?

These are my options. I would first outline the options and elaborate on them. I would leave you to choose the most appropriate.

  1. Grant them Amnesty
  2. Refuse to grant them Amnesty and instead direct them JTF to use excessive force on the affected states
  3. Won’t grant them amnesty, won’t ask the JTF to declare war on the affected states. Just leave things as they are
  4. Cry, cry and throw in the towel.
  5. Call for a Referendum and divide the country

Option one

Alright, let us assume as President I decide to grant them amnesty. Two things are involved

  1. Shekau the leader of Boko Haram would reject the amnesty, ask me to go to hell and that his group would continue the bombings
  2. Boko Haram accepts amnesty and there is ‘peace’.

It is VERY possible that Boko Haram refuses my offer of amnesty. Why? They are not remorseful, they have not come out to ask for forgiveness and they are still at large. We just have some Elders fronting for them (Elders acting on behalf of Ghosts). So, if I grant them amnesty and they publicly reject it, they have done 2 things

  1. Embarrassed my office as President
  2. They have said that by using excessive force on the affected states, I am justified.

Now, if I grant Boko Haram amnesty and overlook the killing of hundreds of thousands of people, what would happen? Fine there would be peace but peace that comes at a price is no peace at all. It means if I am done with my NYSC and I am unable to get myself into one of the major Lagos law firms and frustration sets in, I can also take arms against the government, gather like minds like me who are jobless and then we get ammunition, we start from bombing Ibadan, bomb Lagos, kill people and throw Nuclear weapons into the Bar beach. Then, people would shout “Grant them Amnesty o, they are our Brothers”. Elders from Oke-Ibadan where I come from would put pressure on the President and then I would be granted amnesty, paid Billions of Naira and then would go scot free after killing innocent people.

The MAD cycle would go on.

So whichever way we look at it, Amnesty is the answer and yet isn’t the answer. It comes with a myriad of luggage and baggage and it would NOT solve the problem we have at hand.


I might refuse to grant them amnesty and then ask JTF to ‘kill them all’, that is to declare martial law in the North. Bear in mind that there is no way I would use excessive force on the sect without killing a sizeable number of innocent people.  Three things are involved:

  2. There would be peace yet no peace. I would have succeeded in destroying the North.
  3. The Muslim North could accuse me of trying to ‘wipe’ them off the Earth because I am a Christian.

This option is out of it. It is an open secret that the Boko Haram members live in the midst of the people. There is no way I would declare total war on them without killing defenceless women and children. And old men who are waiting to die too.

In a way, I would be declaring war on the people I swore to protect when I was taking Oath of office. I would also be contravening the 1948 Convention on the Prevention and Punishment of the Crime of Genocide  which Nigeria is a signatory to.

Meaning I would be bundled to the World criminal court in the Hague when I am done as President and be imprisoned just like Charles Taylor.


I might choose to sit, watch and let everything go on as they are. It means Boko Haram would still continue to throw bombs once a while the JTF would still continue hunting them down, killing innocent people by doing such. That means I wont grant them amnesty and wont use excessive force.

Many things are involved

  1. The Qwerty activists would not allow me rest
  2. The Borno Elders would keep cursing me for not granting their ‘sons’ Amnesty.
  3. This crisis would be grossly politicized as we would see Opposition parties trying to take advantage of the situation (They have started already sef). They wont mind dancing unclad on the graves of the dead, politicize the death of people as long as that means I won’t be voted back in 2015.


I might choose to cry and cry to daddy at Oke-Ibadan and then resign. By resigning

  1. It means I am the epitome of cluelessness
  2. I have failed the Country by running when I was most needed
  3. I have given QWERTY activists mouth as they would say “WE FORCED HIM OUT WITH OUR E-REVOLUTION”
  4. I am a failure.

This is not an option as challenges are meant to be faced headlong. 


I could choose to call for a referendum and divide this country, just as Sudan did recently. By so doing, this forced marriage foisted on us by Lord Lugard and his concubine would come to an end.

Well, back to reality now. I am still that Lawyer-Corper trying hard to become somebody In life. I have tried to put myself in Mr Jonathan’s shoes and I must tell you, no be small thing.

As expantiated, you all can see that NONE of the options available to him is so feasible. I feel people should chill a bit. Not everything should be politicized as some people are doing now. I am sure Mr Jonathan’s medulla oblongata is so overworked at the moment.

I have failed to pick a good option and would leave you guys to do that since most of you know it more than the person voted by millions of Nigerians.

I have tried to put myself in his position mentally and I must tell you… I am already suffering from acute mental fatigue. It is very easy to criticize or lay blames when you are not in a position of authority. I challenge my readers to get across to me, either via Twitter or the Comments box below on the way and manner they would navigate through this impasse, if they found themselves in the position of President.

Uneasy lies the head that wears the crown!

N.B: This piece is for Shola Babalola, Dr Emeka Nduma and Toba Morakinyo Esq. for being the inspiration behind this. Knock them if all I wrote up there is very bad. Give them the due praise if you love the write-up.

Follow this writer on Twitter: @oddy4real


About Ayokunle Odekunle

Witty, controversial and one to stick his neck out even when he seems to be swimming against the tide, Ayokunle is a graduate of the University of Ibadan where he studied Law. He was called to the Nigerian Bar in November 2012. In the last twelve years, Ayokunle has won many writing awards. He currently works in a top Litigation Law firm in Ibadan.

Ezekwesili, FG: Guilty or Not Guilty?

My continuous claim that many Nigerians don’t pay full attention to details before taking sides on matters has once again been justified. The quest for knowledge by many of us has deteriorated over time, even though we have readily available means to check claims and weigh its viability. We simply ignore them for shabby and crappy summary by some ‘trusted’ fellows who usually design them for their gains, of course they are masters in the art of exploiting the ignorance and gullibility of many Nigerians.

With the true intentions of these ‘change activists’ still unknown, issues of national debates like the tussle of ‘holier than thou’ between our Present ministers, Past ministers and presidential aides and the way some influential social media activists and commentators easily took sides further proves we are still a bit far from our destination.

Just so we are clear, because I know so many people who might stumble into this piece might tag me a ‘Jonathanarian’ or Pro-GEJ (typical of an average Nigerian once you don’t tell them what they want to hear), Let me emphatically state that I belong to no cabal. If GEJ makes a mistake, i will talk, if he does well, i will do the same and of course, it is not a crime to stand alone. On this issue, I expected GEJ to get whipped for mismanagement of the funds but why was Ezekwesili not cautioned for exaggeration and inflation of the figures? That’s an integrity question she should answer first if you ask me because I don’t know her motives and I don’t trust people blindly, my bad.

Anyways, I just made a compilation of Tunji Andrews’ tweets on the National drama between a former minister of education, Mrs Oby Ezekwesili and Labaran Maku on Oby’s claims that the present administration squandered a whooping $67bn and I thought I should share.

Tunde Andrews (@tunjiandrews):

Are we serious? Just cause the GEJ administration leaves much to be desired doesn’t mean he should debate whoever asks him for a debate. Of course he’d turn down a debate, at best Madam Ezekwesili is a has been minister, not a presidential aspirant. Have we all lost reasoning? After Ezekwesili’s statements, many jumped out to demand the head of the president, unaware that the Governors are presently in court over the ECA (Excess Crude Account).

The constitution gives allowance for the ECA to be shared between the FG, State and Local governments and the state governors are keen to obey So much that the governors have taken the FG to court and refused to settle out of court, Amechi speaking for the Governors say there’s no going back, President Jonathan tried to Pacify them(Governors) by releasing $1bn, but the Governors (via Amechi) say there’s $9bn left to share, so share it now!

Should they get their way, The FG would have to share a part of the ECA monthly, and in a few years, we’d all point fingers again at the FG. Also, I’ve seen people commenting on the fact that The Goodluck Administration turned down the debate challenge from Madam Ezekwesili. Have we all lost our marbles or is it that we hate GEJ too much to reason right? Why in the name of Zeus would he agree to debate her?

Her accusations aren’t even accurate, nor do they paint the entire picture, so debating her would only give Ezekwesili more media attention. For one thing, she has a vendetta against him and for another she’s an ex-minister of another government, not even a presidential aspirant, so Why?

I mean, the holes in her $67bn squandered claim can easily be seen with alittle google research into what was withdrawn & what it was used for
According to Ezekwesili’s, OBJ left $45bn in the Foreign reserves and $22bn (ECA), I don’t know her source but these figures are incorrect.
CBN records say OBJ left a total of $43.13bn, external reserves $31.5bn, $9.43bn in the ECA, and $2.18bn in the Federal Government’s savings       (

MATHS 1: Foreign reserves reached lowest (post OBJ) in 2010 ($35bn) + ECA lowest in April 2012 ($3bn) = $38bn minus $67bn (from Ezekwesili’s report) = $28bn withdrawn

Fact 1: Should we even go by her figures, $28bn was the entire amount withdrawn from both accounts post OBJ, not $67bn as she said

Maths 2: In 2008, crude oil fell to $38/barrel, take that from $95 benchmark and you find a deficit of $57/barrel to fund a N2.546trn budget

Maths 3: at a 2.4m barrels/day production in 2008 – wastages/stealing = 1.8mbpd X 360days x $38/barrel = $2.4624bn (N381.672bn) Not enough

Fact 2: The FG had to withdraw about N2.164trn($13.96bn) from both accounts to fund the 2008 budget

I’m sure with the events of yesterday with the Govs suing over ECA sharing, I really dont need to go into why more ECA withdrawals were made

Conclusion: Yes, there was some mismanagement with these funds, but Ezekwesili’s squandering claim where exaggerated and at best sensational.


Any comments?

why we must #OccupyUI again

For the mere fact that the VC could go extra mile to rent parents(staff) for their so called parents forum, we must occupy!!!

For denying us the use of stoves bcos his wives have been given the cafeteria contract, we must occupy!!!

For threatening students with SDC letter, if they fight for their right, we must occupy!!!

for denying us accommodation and making us face the risks of social vices, we must occupy!!!

Greatest Uites, if you are still indifferent to reasons why we must occupy, then am sorry but remember that a graduate from the land of injustice we never find justice.

It’s time we started to act, no going back!!! An injustice to one, is an injustice to all.

From a concerned UITE..Re broadcast till it gets somewhere!

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Just before we crucify Sanusi

Barely a few hours after the Central Bank of Nigeria Governor, Lamido Sanusi, made his unpopular economic proposition at the just-concluded Annual Capital Market Retreat held in Warri, Delta State, Nigerians were befuddled and began their usual emotional dissection of issues often proposed by the leaders. Sanusi argued that having the staff strength of the
federal, state and local governments reduced by half would serve as a panacea for more infrastructural development in the country. But some Nigerians rather left the real issues and substance for shadow-chasing while hurling venoms at the CBN boss.

Just before we crucify Sanusi over his proposal, have we taken time to ask ourselves the following questions?

Why on earth should our federal lawmakers, both in the Senate and House of Representatives, alone be
gulping up 25.1 per cent of our annual budgetary allocations? What laws are 469 persons making and what legislative functions are they carrying out to warrant such reckless wages and salaries?

Why should a local government chairman have more than two aides? Why should a state governor harbour over 50 aides under his payroll while having commissioners for each ministry?
What’s the essence of duplicating SAs, SSAs and PAs all under the payroll of the Federal Government?
What are they assisting? Is the person in charge a dummy that he can’t think at all?
Why must an economy like Nigeria’s be spending 70 per cent of her annual budget on recurrent expenditure (paying workers salaries) while having
just 30 per cent for infrastructural development and other capital projects? How will such an economy
raise shoulders among her political and economic peers globally?

Did Sanusi single out any region as where the majority of the workers should be relieved? Sanusi is from the North (apparently the region with the
highest number of government employees). Did he shield them? What manner of “god” is the office of Nigeria’s Senate President that the occupant should earn six times more than what President Barack Obama of the United States takes home and three times more than what the British Prime Minister earns? In a country
where over 65 per cent of the citizens wallow below the $1 benchmark.
Why are we still retaining the fuel subsidy when abounding evidence have shown that it is characterised by utter bewilderment and shrouded in corruption while only a few are rapaciously binging on the “ghost funds” known as subsidy?
Why must the Presidency spend so much on feeding alone while a majority of the people continue to wallow in abject poverty?

The truth is Nigeria’s democracy is one of the most expensive democracies in the world! We need to prune down cost of running government in Nigeria
lest we kill the economy and plunge ourselves into further economic chaos in the nearest future. We must learn to think and plan ahead even for generations unborn. We can make do with the House of Representatives
alone while we retrench the Senate which obviously is just a retirement ground for the elite. Enough of the government wastage!
Sanusi’s thesis on sacking 50 per cent of the workforce might not necessarily have to be the civil servants. Something seriously needs to be done but not sacking 50 per cent of government employees. That could be disastrous. However, it smacks of crass preposterousness for a Senate President of a developing nation and
economy to be earning more than the President of a developed nation. We can save the economy from collapsing by curtailing some of this overpaid
Politicians and political appointees need to reduce the number of SAs, PAs and other domestic staff as they are paid for by the government. The Steve
Orosanye Committee report (scrapping some agencies and merging duplicating agencies) should also be implemented without further delay. This will not be up to 50 per cent agitated for by Sanusi but will go a long way to save more money for the Government which will hopefully be utilised judiciously by the Federal Government.
More so, if the government can create an enabling and conducive environment for both foreign and private investors, the burden and high expectations for them to create jobs and more jobs will be lessened; as there’s practically nowhere in the world where the government is employing up to 50 per
cent of her citizens. While trying to encourage investors, the government
can adopt this formula for taxation: the higher the number of employees under a company, the lower the tax that company should pay. For instance, if Mr. A has an investment of N3bn and Mr. B also has the same, Mr. A employs 100 Nigerians while Mr. B has 200 Nigerians under his payroll; then Mr. A should pay a higher tax than Mr. B because of his capacity to employ more people. This is one of the secrets to
President Obama’s projection of reducing unemployment from 8.9 per cent to 7.1 in the US. Sanusi’s proposition could be the way out actually, but the corruption in this nation has eaten so deep into the fabric of the Nigerian system thereby
making it pragmatically difficult for even the 30 percent left to be effectively utilised.
The Central Bank governor has spoken like an economist and the Presidency has also responded with immediate alacrity at least to douse the fears
that might arise; with an affirmation that they are not going to lay-off anybody. But like we all know, there’s a difference between the ideal and the reality. Sanusi is proposing the ideal with a gloomy prognostication at sight. But the reality is that our government can’t dare it as it seems perhaps
helpless. If we subscribe to Sanusi’s conceptual thesis, we could be saving the government some cool cash annually, but we wouldn’t because the “boys” don’t have alternatives at the moment. So, the charade continues!

•Chukwu is ex-editor-in-chief, Psychology Press Organisation, University of Ibadan. 08025717782

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NA wetin?! — Bode George wins African Leadership award ~ OLAJIDE OMOJOLOMOJU December 6, 2012

The All Africa Students Union (AASU) has picked former Deputy National Chairman of the Peoples Democratic Party (PDP), Chief Olabode George as the winner of its 15th edition of the Africa Leadership award. George’s nomination was based on recommendations by the National Association of Nigerian Students (NANS) and the ratification by the executive council of AASU.

Disclosing this was the Nigerian representative at AASU and Project Co-ordinator of the award, Olufemi Lawson, who said that George was selected from among the many nominees for the 2012 award based on his commitment to youth development and his defence of democratic institutions. The award would be conferred on him on December 12, during which a distinguished leadership lecture would be delivered. AASU is a regional students organisation, headquartered in Accra, Ghana with over 54 African countries as members.

Past recipients of the ASUU bi-annual Africa Leadership Award included former Secretary General of the United Nations (UN), Kofi Anan, former President Olusegun Obasanjo, Chief Afe Babalola, a former minister from South Africa, and Nobel laureate, late Prof Wangari Maathai among others.

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