Thread by @knightofdelta

I have a question for those of you who used the temporary high inflation in Egypt and the ongoing currency crisis in Argentina as examples of why IMF reforms, or market driven policies are bad for Nigeria.

Where do you think Egypt and Argentina would be now if they had oil?

Now, let me give you another example. Russia.

Russia has market-driven economic policies. They faced two stressors in 2015 - 2016: sharp drop in oil prices and international sanctions because of their annexation of Crimea.

Each one is enough to crush a country.

Russia went into a recession and rebounded sharply. Few countries can survive that and still hold a successful #WorldCup

Ordinary oil price drop and Nigeria is now home to the largest number of poor people in the world. Imagine if we were also hit with sanctions.

So I am here to tell you that if Egypt and Argentina had oil, like we do, we won’t even be seeing their brake lights. They would have been toasts of global investors.

I am not sorry to say this, but we are a bunch of very unserious people.

Ease of doing business and other stories, but Lagos Airport is the most expensive airport for airlines in the world.

What with our leaking roofs and carousels that are only fit for flyers in the 1950s. And air condition that work as the spirit leads.

And some knuckle-heads were boasting that Aunty Kemi is a better Finance Minister than NOI. May mediocrity never be your portion.

Right under Aunty Kemi’s nose, Customs decide what should be banned and what should not be banned. She has no say.

CBN too will come with some lists and Ministry of Agric too will be soon their own. All operating in silos. You try that nonsense with NOI and she would have dragged the hell out of you.

And you know what’s more painful? Once upon a time, we could all go to PPPRA website, bring out calculator and calculate how much subsidy Nigeria is paying at every point in time. Now, that information has turned to gold.

Take FOI to beg them to provide info, na voice mail.

Now nobody knows how much subsidy we pay. They now call it under-recovery. We are fighting corruption but there is zero transparency.

Oh, monies have been retrieved from soak away and people are dropping money at CBN. Oya show us the money, voice mail.

Meanwhile, the most corrupt administration in Nigeria showed workings. They came out and told us exactly how much subsidy Nigeria was paying and we all filed out to Ojota.

The cleanest Government came, raised fuel prices and we don’t know how much subsidy we are paying.

Oh. Forgive my manners. We don’t pay subsidy anymore.

So I am here to tell you that if you think we are doing well, we only have oil to thank. Otherwise, we would have been in the mould of Congo.

And lastly, I am here to imagine a Nigeria, flourishing like Egypt with the oil. Then use your imagination and stop selling yourself short and take your Government to task.

Stop accepting mediocrity as the norm. We are better than this. Selah.

Erratum: the last sentence should read, “Where do you think Egypt and Argentina would be now if they had oil, like we do?”