NNPCL GCEO Justifies Total Deregulation, Laments Effects Of Crude Oil Theft

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[@mtd4577]

Has subsidy now finally removed or not? I don’t get his message o

[@TruthSeeker19908]

The day we understand incompetence as a country, that’s when we move forward. So your solution to porous border and illegal mining is to remove subsidy? Lol. A ‘leader’ in arguably the most important organization for a country cannot give a project timeline?! I knew Tinubu was not the right candidate, but his incompetence is alarming!!!!

[@NathanielNwafor]

This monster.

[@ismailvsvp7221]

what the hell is he talking about

[@ifeoluwaoni7999]

It's advanced economics, of course you can't understand.
There is what we call arbitrage which is an unnecessary big price difference that occurred within a particular market or location cause by subsidies.
This difference are exploited and most time lead to serious economic damage expecially in a society where corruption prevail
For example because of subsidies oil that are sold in neighbouring African countries at 1200t 1400 naira equivalent suddenly becomes available in Nigeria at say 600 naira what do you think will happen
That's the major source of oil theft in Nigeria