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20261011 003000 UTC
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[00:00:00] mass transit systems are important and
[00:00:04] the uh
[00:00:04] with CNG buses and all that, I think government could have doubled
[00:00:08] down on that and
[00:00:10] of make sure that at least in interstate travel uh
[00:00:14] we can we can face that in very quickly to minimize
[00:00:18] the the impact
[00:00:18] of these high uh prices of petrol so those are
[00:00:22] some
[00:00:22] of the things and few more notes can be turned um
[00:00:26] the what has been
[00:00:27] me proposed and I need to make
[00:00:29] me this uh point, I looked at the yesterday I listened to
[00:00:33] the minister of finance, the first thing that
[00:00:37] occurred to me is this is not really the NMPC have
[00:00:41] done this 66 n
[00:00:43] of thing on independence day, so it was something that I'm aware that they have
[00:00:47] done, it was just to celebrate, so what I
[00:00:50] hear now is okay
[00:00:51] we are spending it for a month the whole of October, great, but it is not
[00:00:55] material, it is not material and the
[00:00:59] other issue. is um
[00:01:00] is almost like is discriminatory um so if NBC is selling
[00:01:04] 60
[00:01:05] me less uh how many retail
[00:01:07] out less maybe 900 out less out of maybe
[00:01:10] 2300 uh licensed outlets in the country
[00:01:13] so uh
[00:01:15] you know I was going to have quees at NMPC does did anybody look at that was
[00:01:19] the implication when this really are we going to have long cues and
[00:01:22] then uh the other stations will be dry and would not have anybody
[00:01:26] waiting uh so
[00:01:27] there are a lot of uh my my issue about
[00:01:30] of the way we do policy is that it looks like we announce them first before we think about
[00:01:34] them, i think we should spend a bit more time design
[00:01:37] and and and evaluate the impact
[00:01:40] of these policies before we announce them, do not
[00:01:43] think that this which is probably 4%
[00:01:47] of is
[00:01:47] material, i'm
[00:01:51] glad you listened to to the minister yesterday and he made lot of
[00:01:55] explanation around that
[00:01:57] of that that is just for um is temporary. just for a month
[00:02:00] of and they may decide uh to look into that later, but let
[00:02:04] me
[00:02:05] of go to uh Dr. Adilye uh before subsidy was
[00:02:09] removed, we were doing around I think 200 and something n
[00:02:13] per liter and now we're having to deal with um
[00:02:16] how many percentage now about um
[00:02:20] 1,00 or there about I can't I can't put it together now
[00:02:24] but
[00:02:25] of imagine 200 and something per liter and
[00:02:28] 1,350. to your 400 depending on where you're
[00:02:32] buying um the question again is the
[00:02:35] debate around subsidy do you think subsidy should come back the government
[00:02:39] has said
[00:02:41] of coming back will be will
[00:02:43] me a lot more um negative
[00:02:47] things that could happen
[00:02:49] but what is your take on that?
[00:02:50] okay
[00:02:53] um do not agree that subsidy should
[00:02:57] come
[00:02:58] of back of but in actual fact. what we need to
[00:03:01] do to
[00:03:02] of reduce pump price is not subsidy.
[00:03:06] now what determines the price of petroleum
[00:03:10] products? there are two things:
[00:03:13] number one is the global oil
[00:03:16] price. number
[00:03:19] a two is importation overheads
[00:03:22] (expenses) so you talk about shipping, marine
[00:03:26] insurance, interest rate for people that are b.
[00:03:31] to import tank farm expenses and then you come
[00:03:34] to
[00:03:36] of distribution and that will take
[00:03:37] of me of back to
[00:03:39] a that proverb in youruba that he that
[00:03:43] under the orange tree must enjoy sweet
[00:03:46] orange if we go back because this
[00:03:50] discount that has been done is actually
[00:03:54] a reduction in the profit that NNPC could have
[00:03:57] made simple as that. just
[00:04:00] a reduction in their profit is
[00:04:03] not as sif they are selling below cost so
[00:04:07] to say so we are not even saying that we should
[00:04:11] sell below cost so let's look at the cost
[00:04:14] of uh upstream
[00:04:18] activity that is getting crude
[00:04:21] extracted from the ground if our cost
[00:04:25] of production that will give yield of 1 l is
[00:04:29] to now
[00:04:32] unfortunately our refineries in
[00:04:34] worry,
[00:04:37] of in cadun, they have issues, but there is good news, we have
[00:04:40] dangote refinery, dangote refinery is set
[00:04:44] up to make profit, we can actually take crude at
[00:04:48] our own
[00:04:49] of cost and
[00:04:50] of say, look, we need 50 million liters per day,
[00:04:54] if that is correct, how much will it cost you to
[00:04:57] refine for us? plus the profit you will make
[00:05:01] in refining, you have overhead, so let's say is 20ira per liter you are
[00:05:05] refining for us, so it means that okay, let's
[00:05:09] of add 10 for you so that you can have profit for
[00:05:13] refining, it comes to
[00:05:15] 230, how much will it cause
[00:05:19] us to distribute around the country? oh, from legos
[00:05:23] to maduku is higher, maybe is 20 n, from
[00:05:27] legos to
[00:05:28] hugun or your is 10, you take the average and say okay, plus
[00:05:32] distribution, 230, let's say plus 20, it comes
[00:05:35] to 250, the station owners, we have their
[00:05:39] profit for them, and then that becomes the...
[00:05:42] price now the challenge with that
[00:05:46] and
[00:05:46] you know because the people in government they are also our friends and we
[00:05:50] cannot be here uh criticizing them, we can only
[00:05:54] advise and say can we do it this way, and that's why i think the
[00:05:58] government need to have a meeting, call a round table meeting, call
[00:06:01] expert to sit down together, what can we do to be the price, now
[00:06:05] when you do that, you now monitor
[00:06:09] that you have DPR, DPR has...
[00:06:12] in the charge. database of all petrol stations in the
[00:06:16] country and as they load from the refinery
[00:06:20] we know where the trucks are going and then you monitor
[00:06:24] that there is no hodding now we have the DSS we have the
[00:06:27] custom we have the police we have drone technology
[00:06:31] if any trailer is found crossing from
[00:06:35] Dawura to NJ to go and take the
[00:06:39] PMS away whosoever "you
[00:06:41] is will be sacked that same day,
[00:06:45] everybody sit tight, and by the way, let me say,
[00:06:48] Nigerians, they are the enemies of Nigerians themselves,
[00:06:52] the president, from what I heard, they
[00:06:56] have airmark a lot of money into
[00:07:00] CNG buses to cous the effect of transport
[00:07:03] cost, since they announced, we don't know,
[00:07:07] I have not seen so much these buses in my
[00:07:10] state, I have not..." so much these
[00:07:13] buses in lagus and that
[00:07:16] means some people somewhere they are
[00:07:20] sabotaging this country okay and so
[00:07:23] when we do this price cost pricing we can just
[00:07:27] have a one page law national assembly pass this law
[00:07:31] anti sabotage
[00:07:33] law
[00:07:36] dr you know one the challenges that i see you
[00:07:40] is what you have just mentioned what the initiative that government comes up
[00:07:44] with, it's usually in the space
[00:07:48] of of implementation, so let me take this to
[00:07:52] engineer, the challenge, one the challenges that I have
[00:07:55] seen that we have had to deal with over time,
[00:07:59] particularly when it comes to the price of um petroleum
[00:08:03] products, is that whenever it seems like the
[00:08:06] price goes down a notch, other
[00:08:10] price follows it, when just the mayor
[00:08:14] announcement, mayor announcements of increase
[00:08:17] in the price of pump of
[00:08:21] petrol at the pump, we find
[00:08:25] that everybody, once the government announces increase,
[00:08:28] pump prices increase automatically, but when there is
[00:08:32] reduction, pump prices take time to
[00:08:36] come down, and the reverberating effect of that
[00:08:39] also uh is... is it goes to the
[00:08:43] markets, the price of yam, price of tomato, price of rent and all
[00:08:47] those things and
[00:08:49] you just heard Dr. talking about some
[00:08:52] kind of sabotage law just so
[00:08:56] Nigerians can also help Nigerians the little way they
[00:09:00] can, what are your thoughts on
[00:09:01] that? well, I
[00:09:05] think the so, so yeah, it's a good, it's
[00:09:08] an important observation that price signals take time.
[00:09:13] to to transmit through any economy is not
[00:09:15] just in Nigerian everywhere in the world um and I
[00:09:19] think the the the velocity of that transmission is
[00:09:22] a function of other factors uh especially the supply
[00:09:26] side uh factors so I I think we need
[00:09:30] to I you know I hear this all the time but
[00:09:34] I think if we if we understand how the market works it will help us
[00:09:37] appreciate this um if
[00:09:41] prices go up and supply is sufficient pr will come
[00:09:45] down assuming demand stays
[00:09:48] stable right, so we need to understand that, so
[00:09:52] I am not for, I don't go about thinking about it as
[00:09:56] sabotage, I think I think people is
[00:10:00] abitrage here, people take advantage the market, but
[00:10:03] again this answer is to is to be for
[00:10:06] supply, so when supply is is sufficient
[00:10:10] enough, prices will respond. uh and they will
[00:10:14] come down and we've seen situations where that happen so so my
[00:10:18] sense is let's not cure the
[00:10:22] symptoms let's let's look at the root cause. the root cause
[00:10:26] is is we are an economy where most
[00:10:29] things are are undersupplied, so
[00:10:33] productivity is the is at the heart the challenge, so if we enhance
[00:10:37] productivity uh
[00:10:38] the price signals will travel faster. well, another leg to that
[00:10:42] conversation is another issue that raised a little while
[00:10:46] ago, and perhaps in some kind of reference
[00:10:49] to what the finance minister said about the fact that Nigeria does not
[00:10:53] as at now have enough crude to supply
[00:10:57] danguter refinery, perhaps because of some other of some
[00:11:01] other initiatives that have gone ahead, what are your thoughts
[00:11:05] on that uh, because I'm not sure that Nigerians even
[00:11:08] understand what that means, that's
[00:11:12] that's to you, engineer wake, oh okay,
[00:11:15] so my thoughts on how do
[00:11:18] we uh increase output so that we are at least able
[00:11:22] to supply our domestic refineries, I think the... of work is
[00:11:26] been done as we speak from what i see NMPC is working hard
[00:11:29] to the president has given them some targets, i think is 3 million
[00:11:33] barrels by 2030, i
[00:11:36] think and the i understand
[00:11:40] lot of work is going, it takes time to you know
[00:11:43] develop these projects, it takes time to execute
[00:11:47] them and get the volumes that we need,
[00:11:51] so that is ongoing, and i fully understand that
[00:11:55] some the incumbared uh
[00:11:58] uh flows, rude flows uh will might be freed
[00:12:02] up in in the next couple of months, so when that happens
[00:12:06] i think the unincumber unincumber
[00:12:10] volumes will become available for for for for the
[00:12:13] local refineries. the the challenge if
[00:12:17] you ask me is that the domestic prood obligation,
[00:12:21] that system is struggling, i think that's we all need to
[00:12:25] recognize that there are challenges with that and I'm hoping that
[00:12:29] as time some these market uh fiction will be
[00:12:33] addressed in time either through stronger
[00:12:36] regulatory intervention or through market forces
[00:12:40] themselves so is it we are going through a
[00:12:44] journey - lot has happened and and I think is
[00:12:47] important that uh we look back the last three four years
[00:12:51] a lot has changed the landscape has seen can
[00:12:55] vastly improved and we need to recognize that are there
[00:12:59] challenges uh supplying the local yes there are and i
[00:13:03] think with time those will be resolved uh but they are not going to
[00:13:06] happen uh like immediately well
[00:13:09] well one immediate thing that Nigerians are looking for is
[00:13:13] some kind of abitment something that relieves the pressure
[00:13:17] doctor again seem to be quoting him a little this morning talked
[00:13:20] about the the presidential initiative
[00:13:24] uh about CNG
[00:13:28] vehicles, the state governments don't have them, my
[00:13:32] apologies, this question is going to you
[00:13:35] engineer, they that the
[00:13:39] the the state governments out to be supplying
[00:13:43] uh at least some kind of mitigation, I saw some CNG buses in Lagos by
[00:13:47] the way, and they are heading to OB status or so, so is
[00:13:51] there an interv is there a role for governments in your own?
[00:13:55] union um engineer wakwe that that
[00:13:58] state government can do to mitigate some the challenges that they are, some
[00:14:02] the pressures that their people are encountering, particularly in
[00:14:06] terms of uh energy
[00:14:08] supply. yes,
[00:14:12] certainly um the CNG rollout has been very
[00:14:15] slow in my opinion and it's um
[00:14:18] and i agree with you, the state governors need
[00:14:21] to uh help get in there
[00:14:25] and remember that CNG we had near zero
[00:14:28] infrastructure
[00:14:30] CNG infrastructure so in the last five years you're trying to build out uh
[00:14:33] infrastructure for this
[00:14:37] new um energy source uh
[00:14:41] so my sense is that yes there's need there's an
[00:14:45] urgency here there's need for both federal and state
[00:14:48] governments to work together to ensure that we have national
[00:14:51] rollout even as we build out that... born
[00:14:55] infrastructure for CNG, I think is important that that um that
[00:14:59] is fast track, that would have helped switch most the demand
[00:15:03] for PMS away from PMS, so that would have been very,
[00:15:06] very, very, very helpful a time like
[00:15:10] this, sadly we are we are a
[00:15:12] bit, we are bit slow
[00:15:16] and we haven't quite gotten there, but I think that the state
[00:15:19] governors need to, people should you know
[00:15:23] put pressure on the state govern. to help push
[00:15:26] this uh uh program forward, I think is it, it
[00:15:30] will help. All right, let me go
[00:15:33] to Dr. um, part the discussion is
[00:15:36] what, the funds that have been saved
[00:15:40] from the removal of subsidy, what they have been used
[00:15:44] for, um, in 30 months, the government said they've saved
[00:15:48] over 15 trillion naira uh between
[00:15:51] June 2023 and December
[00:15:54] 2025, um, government said they
[00:15:58] used it um for nail fund, um, salary
[00:16:01] increase, wage award and all of that, what
[00:16:05] more do you think
[00:16:07] you know, government can do to show the people that
[00:16:11] yes, this money that we have saved from subsidy
[00:16:14] removal,
[00:16:15] you know, can be used in this other area just so it can
[00:16:19] touch the lives the people even as they struggle
[00:16:23] to to pay for petrol when they get to to
[00:16:27] the pump station, to the first
[00:16:29] station. okay, um, you
[00:16:33] know that um, communication is very
[00:16:36] key, very important and people
[00:16:39] respond to what they see physically around. I
[00:16:43] sympathize with the government because there have been a lot of
[00:16:47] borrowings that affected our crude oil
[00:16:51] that is available for us to push to local refineries, even if
[00:16:55] we want to adopt production cost pricing
[00:16:58] method, but as soon as
[00:17:01] subsidy was removed, you realize that
[00:17:05] state government began to... and
[00:17:08] heavily, what we share are the fact
[00:17:12] increased so much, I was expecting
[00:17:15] that few months after, how long does it take
[00:17:19] to place order to get vehicles into the
[00:17:23] country, I was discussing with a friend and he said, oh, do we need
[00:17:27] to even go to that extent, why can't
[00:17:30] you uh even commission innocent and say, give
[00:17:34] us buses in all the states, thousons? of
[00:17:37] buses now
[00:17:40] i if in all the state you have seen
[00:17:43] buses are taken 52 passengers and written
[00:17:47] boldly on them subsidy bus
[00:17:50] subsidy bus subsidy bus you don't
[00:17:54] need to speak to anybody that this is the effect
[00:17:58] of subsidy when there is increase in allocation to state
[00:18:02] government we need to probe into what the funds
[00:18:06] are being used for. health care facilities are to have
[00:18:10] increased, thank god health insurance is coming up in many states
[00:18:14] now um so the CNG
[00:18:17] investment that the federal government has
[00:18:20] done is not having
[00:18:23] effect uh and I think it
[00:18:26] bothers an implementation and those that are in charge,
[00:18:30] but in the last few weeks I've been hearing
[00:18:34] about the the chair the presidential initiative.
[00:18:38] uh on CNG talking about what is available,
[00:18:42] so
[00:18:42] we need to double our effort uh, if transport is
[00:18:46] cheap, if there is energy
[00:18:48] supply into your house, you don't need
[00:18:52] petrol to power your small generator,
[00:18:56] if we have a discounted amount
[00:19:00] of solar package for small income
[00:19:03] earners, people who don't need more
[00:19:06] than just two b. the four panels, barber
[00:19:10] shop, hairdresser and all these, if we are
[00:19:14] able to do that, and I'm also aware that there
[00:19:18] are motor bikes, tricycles that are being
[00:19:21] purchased either electric or with CNG
[00:19:25] as well, so if we litter the whole place with all these
[00:19:29] affordable infrastructure and
[00:19:33] the pressure and the demand for PMS.
[00:19:37] reduce and so you're not going to bother, take for example, if
[00:19:41] you live in United in London for example, you are not
[00:19:45] going to bother yourself about how much they are selling
[00:19:49] foil, because with your oyster card you get into the buses,
[00:19:53] you get into uh train at the underground stations and you
[00:19:57] can live there for years without thinking about having a car,
[00:20:01] so the other infrastructure, public goods
[00:20:04] that all to be in place to cous. the effect
[00:20:08] of floating the naira and removal of subsidy
[00:20:12] uh is what is lacking and we need to do
[00:20:16] something quickly, forget about people saying policy is
[00:20:20] for is because of politics, as far as i'm concerned, every
[00:20:24] policy of government has desire good, and the desire
[00:20:27] the government from what i can say is that the one life to be better
[00:20:31] for the people, no government want people to be in pain, and we
[00:20:35] must get that right, and if we are not getting the result, it
[00:20:39] means we need to sit down together and say, hey, people are
[00:20:42] suffering, there's problem, they take home cannot take
[00:20:46] them home, and I told the NLC chairman in my state that,
[00:20:50] asking for 500 thous minimum wage is not the
[00:20:53] solution uh the money we evaporate in your hand with
[00:20:57] inflation, what we need is public goods that
[00:21:01] will be in place to cousion the effect of this
[00:21:04] liberalization because we have the petroleum industry act
[00:21:08] pia uh it controls
[00:21:11] what can happen in that sector otherwise investor
[00:21:15] will run away let me let add here let
[00:21:19] add here the refinery dr.
[00:21:21] yes, government should fix the refinery. there is
[00:21:25] another conversation on that, because the minister has said
[00:21:29] that you know lot of money have been sunk
[00:21:32] into trying to rehabilitate you know
[00:21:35] this refineries and what do we have to show for
[00:21:38] it? so if you say government should fix the refineries,
[00:21:42] isn't that money that could have been used for other things just so
[00:21:46] that because if lot of money have gone into? and we
[00:21:50] still can't find any positive,
[00:21:53] outcome, do you think we should still go that
[00:21:56] way? well,
[00:21:59] um, just you and I, we're we're together as
[00:22:03] citizens, the money that I've been spent there,
[00:22:07] some people were in charge, we need to ask question, what is
[00:22:11] going on, why is dang refinery working, why is our own
[00:22:15] not working, but let's give in that we
[00:22:19] don't have. let's conclude, bua is coming up with
[00:22:23] one, dangute has another, these are private sector,
[00:22:26] so as soon as we solve the
[00:22:29] encombered quantity of supply that we have
[00:22:33] to make from our crude production in the next couple of
[00:22:37] months, as my colleague said, then we can begin to look at
[00:22:41] those refineries, private sector and say what is your cost of
[00:22:45] refining for us, plus the profit, we know the
[00:22:48] cost of production, I keep saying he who
[00:22:52] sits under an orange tree most enjoy a
[00:22:56] sweet orange, you cannot
[00:22:59] price PMS at the price that
[00:23:03] Kenya is getting it, because importation cost,
[00:23:07] marine insurance and then the global crude
[00:23:11] oil price is they are factors
[00:23:14] and so we can do something, the
[00:23:18] sabotage law I mentioned. is sabotage law
[00:23:22] against smugglers, who take advantage
[00:23:26] that PMS is cheaper in Nigeria and
[00:23:29] that 50 million liters that is needed, they now want to show
[00:23:33] change the people by taking it to the border, so if we
[00:23:36] have the anti-sabotage law that
[00:23:40] will deal with this people, DSS, police, custom, civil
[00:23:44] defense, they are capable of getting
[00:23:47] anybody, now we can let go of small cages.
[00:23:52] the because closeness, but when we see a
[00:23:56] truck crossing they border, then whoever is in
[00:24:00] charge to be heard responsible. okay, okay, engineer w
[00:24:04] um, that is another kettle of fish, because if we have talk
[00:24:07] about refining in Nigeria and even the ones that in the
[00:24:11] past have been subsidized, you see that you know they find their
[00:24:14] way crossing crossing the borders, but now let's talk
[00:24:18] about how much more we have spent as a
[00:24:21] country on rehabilitation uh turn
[00:24:24] around um uh repair of this
[00:24:28] refineries that we have
[00:24:30] and um Dr. said that people
[00:24:34] who were in charge should answer for
[00:24:37] I think we've spent over 25 billion
[00:24:40] dollars
[00:24:41] you know uh over the years in in the last I think two decades
[00:24:45] of this country trying to bring back to
[00:24:48] life some of this refineries, do you
[00:24:52] think that we should look in that area or
[00:24:56] should we create that enabling
[00:24:59] environment for more private sector people to come
[00:25:02] in? yeah, um, i
[00:25:06] think let's let's think about, so we can talk about
[00:25:09] the the issue around the state on
[00:25:13] refinary what they do, well NNPC is a company,
[00:25:17] is camera company today, so it owns so he has to
[00:25:20] make and i think they are doing some evaluations to see best way
[00:25:24] forward so i need to make the point that the
[00:25:28] challenges we have today uh would
[00:25:32] still have them even if we had 100% domestic
[00:25:36] refining that's just the way i see
[00:25:39] it i don't think that these are this is a global
[00:25:43] shock and it's transmitting ac
[00:25:46] all economy answer why why do you say we will still continue to have those challenges?
[00:25:51] Yeah, that's that's that's exactly what I'm trying to explain, if
[00:25:54] assume we we had
[00:25:58] enough refining capacity, we are refining locally, we will see.
[00:26:02] buy crude, so the big issue here is
[00:26:05] that the cost of crude has hit the roof, those refinaries will still be
[00:26:09] fed with crude, expensive crew, so I'm saying that this is
[00:26:13] a global shock and it is transmitting across
[00:26:17] economies, not just hours, so it's not a domestic
[00:26:20] problem, right, so even if we had
[00:26:24] sufficient enough local refining, we will still
[00:26:28] have to address the current challenges we face
[00:26:32] so... that's kind of is important that we make
[00:26:34] that point
[00:26:37] uh and you can debate whether or not you want to do uh
[00:26:41] production uh cost pricing for crude or you want to bench
[00:26:44] market the important thing is that today uh the crude is
[00:26:48] been b much globally there's an international so that's how we are
[00:26:51] pricing it um so I asked the
[00:26:55] question about whether we should see if
[00:26:59] we can do more in terms of bringing those
[00:27:02] refineries to life or create
[00:27:06] that just give a minute, i'm trying to answer that
[00:27:10] question, so i have to lay this foundation to say whether or not
[00:27:14] we have those refinaries active, not have addressed our
[00:27:18] current challenges, are you saying it will make any difference if we have them
[00:27:21] active, is that what you say,
[00:27:24] it will, that's
[00:27:24] what i'm saying, it will, mean how do you, let me put it this
[00:27:28] way, um, maybe today tangot is
[00:27:32] refining so we are getting maybe 60% of our system, how much
[00:27:36] has that changed our situation uh in term currently with
[00:27:40] what we are dealing with, so the it's important that we, I'm
[00:27:44] saying that the decision to reactivate the refineries is being
[00:27:48] handled by the owners the refinery, in this case NMPC,
[00:27:52] so I know they are they are evaluating and doing all the work that they
[00:27:56] need to do to land on the best way to
[00:28:00] reactivate or to hand do the rehabilitation of
[00:28:04] those,
[00:28:05] so I will let that be uh, my, I will wait for them to come
[00:28:09] back and tell Nigerians what they intend to do. However,
[00:28:13] it's, I, I, I just wanted to clarify that the
[00:28:17] current shock that we have faced is a
[00:28:20] global shock, and it it wouldn't have mattered
[00:28:24] even if we had two million barres domestic refinend, I
[00:28:28] think we would have the impact would be very minimal, so that's...
[00:28:32] important that we said that so that people understand what
[00:28:35] issues are. okay, now let's let's talk
[00:28:39] about mitigating
[00:28:42] impact. i'll come to you,
[00:28:45] dr.oyi, immediate
[00:28:47] mitigation, clearly the federal government initiative
[00:28:51] as lofty as it sounds and all the explanation that you gentlemen you've
[00:28:55] been given, it will seem like the initiative the federal
[00:28:59] government is in in itself is not enough. to
[00:29:03] one persuade Nigerians and two make any meaningful
[00:29:06] impact,
[00:29:07] what other elements need to come to play uh, is there
[00:29:11] a role for state governments, is
[00:29:13] there a role for for private sector practitioners, is
[00:29:17] there a role for the downstream distribution channel, what who are
[00:29:21] the people or what are those things that need to be done to mitigate
[00:29:25] immediate impact? this intervention that uh
[00:29:29] Mr.ele mentioned is just for 30 days.
[00:29:32] so what are the mitigations that you think should be in
[00:29:36] play now so that Nigerians will at
[00:29:39] least you feel a bit of
[00:29:41] relief? number one is
[00:29:45] that um discriminatory
[00:29:48] discount uh is not good for
[00:29:52] us uh we must consider
[00:29:54] everybody. um the second
[00:29:58] thing is that we need to do lot of campaign about
[00:30:02] patr. in Nigeria so that people do not
[00:30:05] abuse uh the policy that government
[00:30:09] intends uh to have positive impact
[00:30:13] on the people, so people don't just get discounted price and
[00:30:17] then begin to sell higher rather than transport people
[00:30:20] around. the third thing is that the subnationals have
[00:30:24] responsibility, the state government, the local
[00:30:28] government. i have not seen a
[00:30:32] state like Legos, Legos is trying, so you have the
[00:30:36] blue rail, you know, why can't we
[00:30:40] connect the three senatorial district in all the
[00:30:43] respective state with train, is
[00:30:47] doable, and it's not rocket science, um, during
[00:30:51] my my my PhD research, I went to first rail
[00:30:55] in Scotland and we found out that these things are not
[00:30:58] rocket science,