DOES THIS GOVERNMENT HAS SHAME?

Jasper Azuatalam

 
WHY IS THIS GOVERNMENT INSEPARABLE FROM CORRUPTION, STEALING, LOOTING AND LYING?

Farouk and Otedola were involved in a bribe scandal in the aftermath of the fuel subsidy probe panel. Farouk has since confessed to have taken a bribe of $620M and the giver Mr Otedola has since accepted to giving the bribe.

The Police has investigated the case and confirmed the suspects are guilty, But the suspects are still walking freely in the street and even using Police escort around.

The suspects are still dining and dealing with the government as they are part of the government of the day.

The national Assembly still investigated the case, but till today no results of their findings were given. The last word from the Police on the case is that it has been submitted to the attorney general of the federation for consideration.

Criminal cases are now being prosecuted in the office of the attorney general of the federation or better still considered in his office. The Nigerian government of today is shouting broke in the midst of excess revenue. the government is borrowing to fund the budget in the midst of excess revenue.

The 2012 budget is a total of 4.7trillion at %70 dollars per barrel of crud oil as the bench mark. Today, crude oil is sold at $113 an excess of $43 which is about 50% increase in the estimated price of $70. The implication is that there is an excess of revenue accrued to the nation.

 This is apart from the additional barrel explored per day. Femi Falana made this calculation earlier this year and no one has disputed the figure as it came from the government.

1.     Crude Oil production/day - 2.5M barrels                                                                  
2. Current Price = $113/barrel                                                                          
3. Daily Sales = 2.5M x 113 = $282.5million                                                    
4. Monthly Sales = 282.5M x 30days = $8.475billion                                                                                                                                       
5. Yearly Sales = $8.475billion x 12 = $101.7billion                                                                                        
6. Naira Equivalent = 101.7billion x #160 = 16.272trillion naira per year.                                                    
7. Nigeria's budget for 2012 = 4.5trillion naira.                                                                                                         
Can someone explain to Nigeria what is happening to this government?