Why fuel will exceed N200/litre

Sir: Certainly, the price of fuel will rise. It is the result of economic activities, which we can’t fight against or pretend about. I think we should concern ourselves with what the way forward should be, particularly, on the long term.

I am of the opinion that our governments over the years have been very poor managers of our economy. Therefore, removing the economy from government and placing it in the hands of the people becomes the only option. Through privatisation and liberalisation of the economy, through the Nigeria Stock Exchange (NSE), by way of initial public offer (IPO), will put the people in effective control of the economy. This will bring about transparency, accountability and productivity, which are very important for price stability, development and progress.

NNPC, Eleme Petrochemical Company, Warri Refinery, Port Harcourt Refinery,Kaduna Refinery and Ajaokuta Steel should be sold to Nigerians through the NSE. The Federal Government will definitely realise a lot of money from the IPO immediately, and a lot of money in terms of taxes, on the long term. Nigerians will be gainfully employed (directly and indirectly). The products of those companies will be available to satisfy local demand, and there will be excess for export. This will certainly lead us towards self-sufficiency, which is key to development and progress.

Self-sufficiency is the way forward. A self-sufficient people is a self-sufficient economy. This is the foundation of strength and respect in the international community.Privatisation and liberalisation of the economy through the NSE is the instrument for self-sufficiency.
Basil Ogbanufe,
Lagos State.