Information that the Viewers Corner News correspondent in Abuja, Nigeria, gathered revealed that over 120 billion naira was paid to those working in the refineries of Nigeria as salaries and benefits for a short period of time without a single profit made. This is a terrible situation. Normally, the way it should have been done would be, if a company, be it private or government owned, has operated for a specific period of time and no profit is recorded, it is either such company be closed down completely or a solution to know why the outfit is not making profit should be found quickly, instead of wasting billions of naira, which would have been used in other vital areas of business to pay workers who are not producing anything, and at the end of every month, they receive salaries and benefits. This system is why the economy of Nigeria cannot move forward. We also believe that there are some top government officials who are benefiting from such an ugly system, which is bad. Based on this, we are appealing to the government of Nigeria to look into this issue of Nigeria’s refineries and possibly find a solution on how to make them profitable. Again, paying out billions of naira from the treasury of a business without such a business making profits is completely a waste of resources and not the best for a country whose source of income comes from such a business, which is crude oil.
Source: Viewers Corner News