There would soon be saturation of hydrocarbon because the whole world would be filled up and I really don’t think there would be redemption.
But do you think the refineries should be privatised?
I have always believed in the privatisation of the refineries. You must just get the proper pricing, get the appropriate amount and if you do that, everything would be alright.
A lot of Nigerians had believed that the fuel subsidy has been removed only for the NNPC to announce that there is still subsidy on the fuel we buy. What do you think is the way forward?
To be frank, I don’t believe there is any subsidy. In all the years that I have worked in that sector, I have never believed in subsidy. If you do not put the appropriate price on a product, you would not get its right price.
It was reported that bodies like MAN, NECA and others came out to say that Buhari’s economic policy is not working. Do you think it is working?
It cannot be ideological. Perhaps in six months down the line, something else can happen, you can never be sure. Wait until the American economy would crash and then Trump would just go crazy. Let’s see what would happen but you would never know.
Do you think Buhari’s administration has a sound economic team?
I am sorry but no, he doesn’t. I am afraid that the man has taken on too much and he needs to rest for a while and then we would see how it goes.
Some people have argued that he has not included major stakeholders like Dangote in his economic team…
Look at what happened, there is a patent exhaustion in the last few days. Suddenly there is a fatigue. Talk to me in two months and let us see.
Do you think that in two months things would get better or worse?
I hope it gets better. There is palpable exhaustion in the air because we are tired, I am very tired. A lot of my investment is in real estate and honestly things are not moving.
I just cannot make a sense of it, things are very bad. That is where we are now. I am sorry for the next generation and I hope they would be able to make sense of whatever Nigeria becomes.
Are you saying things are still good for this generation and it can only get worse for the next generation?
I am afraid so. Look at what is being reported in the newspapers.
What do you think can be done to rectify the situation?
We would continue to suffer and smile, things are awful.
So you don’t think there is a quick fix that the government can embark on?
Quick fix? Where? It is not going to happen. I am sorry but it is the way things are.
Are you saying that there is no light at the end of the tunnel?
There would be light at the end of the tunnel in the end. We would wobble through and it is not going to be an easy ride.
So Nigeria has never had it this bad before?
No we have not. If you had spoken to me about five months ago, I might have been more optimistic. But Buhari has nothing to offer Nigeria when it comes to economic policies.
He has no clue when it comes to economic matters. He has no clue. Nigerians should just leave him and let him play the agriculture card.
Do you agree with people that say agriculture might be a way out of this economic mess?
Yes, it can and it better be a way out, otherwise we are all doomed.
What do you think the government can do to make agriculture enticing to the people again?
We would beg and pray because the agriculture sector has a lot of promise and it might do something to the economy. However, we can only be hopeful. Agriculture was something we believed in at a time.
Some months back, the Minister of Finance said that the recession experienced by Nigerians would soon be a thing of the past. Do you agree with her?
I think she is a sweet young lady but I don’t agree with her. Nigerians should just leave her and see how things happen from now till next year.
However I feel sorry for her because she is not going to get there. The workload is too heavy for her to bear. It is too much for her. I pity her a lot.
When it does not work, it is never easy. She is an adorable lady but she is not going to get there.
Do you think Nigeria can ever have a stable power supply?
Yes I believe so. We have the promise of gas and it can bring that back. What we can do is to beg the world to look at us and help us open up the promise of gas.
The ruling regime has also argued that recession crept in because of Nigerians’ preference for foreign goods, do you agree?
When I was much younger, we used to manufacture things. I was making Ragolis water but that is no longer the case. We would pray that small scale businesses would begin to thrive again in this country.
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