4 thoughts on “Roadside Fruit Market”

1. Is oil expensive in Nigeria?

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   • For awhile it was subsidized by the Nigerian government bellow world market prices to keep the prices low in Nigeria. So for instance if the price of gas is $100 a barrel on the world market the Nigerian government sells it for $50 in the Nigerian market while paying the suppliers the full market price $100.

     Of course this led to full scale corruption with the suppliers/importers as Nigeria does not refine its oil. Some suppliers who are referred to as a “Cabal” by the president would line up ghost ships on the coast of Nigeria claiming these ships had millions of tons of petrol in them when these ships were empty vessels some in fact were ships registered and operating in other parts of the world, some nonoperational.

     You could have a supplier making in excess of $300m in a day, his only effort for the day is, putting together fake papers and showing up to pick up his check from the Central Bank. When the new finance minister assumed office she called for a stop to the oil subsidy scheme as it was only enriching a few and the poor masses in Nigeria are still lining up for gas as gas stations. For her bold move her mother was kidnaped and held for ransom.

     You see the corruption also filters down to the electric power sector where Nigerians depend on generators, gasoline and engine oil for electricity, the government even protects the electric generator dealers as an industry.

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     • Thanks for your reply. It felt like a deja-vu because there are so many similarities with my country during the last 25 years.

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