Oil marketers who constitute the middlemen in Nigeria’s refined petroleum products market have now reached an agreement with the outgoing Goodluck Jonathan‘s administration and, potentially, amounting to some $1 billion in Nigeria’s NNPC share. As reported by Sahara Reporters.
This move by the oil marketers was seen by many as a last attempt to receive a major lump sum payout from the Nigerian treasury before an unpredictable Muhammadu Buhari takes office in four days time.
Do you think Nigeria’s governance models need to be reformed to ensure that major payouts to Nigeria’s creditors do not happen in the last stages of a major political transition? If in Nigeria, would you have been able to wait out the fuel shortages through a few more weeks as the new administration, potentially, worked a better deal for Nigeria?