The Wonders of NNPC

 

As an adult, my first experience of the wonders of NNPC, was when an acquaintance of mine was working with NNPC.

This man had a Toyota panel van for a

car.

We frequently met at the Tennis Courts of the National Stadium Suru Lere. He had a younger female cousin that somehow was a magnet towards the man.

Fast forward to a few years later. We were at the Lagos Lawn Tennis Club to watch a tennis championship and the late popular journalist, Ayo Ositelu was the butt of this man's tirade.

Ayo Ositelu had blocked some cars with his Volkswagen beetle car. This man to my surprise had upgraded his panel van which was no better in grade than Ayo's car and was derisively asking for who parked, 'this thing' there?

I was really surprised that a man who only recently had a panel van could be so derisive of a volkswagen beetle?

Well that was the first. Oil is our major foreign exchange earner in an import dependent economy.

It therefore follows that NNPC would be a cash cow.

Government establishments are more service oriented than profit. 

This explains why NNPC is run in a profligate manner. It was believed that in the Obj days, NNPC was where to get slush funds.

Today, NNPC has been turned into a limited liability company for profit and instead of Dividend, NNPC wants to borrow $3b dollars to stabilize Naira.

Are you not surprised that instead of producing and refining crude oil, NNPC is usurping the powers of the Central Bank of Nigeria as banker to the Federal Government?

It is possible CBN is more concerned with assembling materials for Emefiele's upcoming court case than defending the integrity of the Naira!

Life is full of choices as scales of preference differ.

The real Cost of Emefiele's case may be inability of CBN to perform their core role.

As the youths say, this is how we roll!