Ebele Ogbuanu the Hunter goes into the bush, kills a very big Antelope and sells it to Mama Ngozi who sells peppersoup.
He sold the game for N1,000. He told mama Ngozi to make sure the peppersoup is well made because he is coming along with his friends in the evening to enjoy themselves.
When they got there that evening, they ordered for plates of peppersoup. Ebele bought the head for N500, he bought the four legs for four of his friends at N500 each, another person ate the intestines as assorted, he paid N500 for it, three other people also ate N500 worth of peppersoup each.
The hunter ended up spending N4,500 to buy what he sold to Mama Ngozi for N1,000. Mama Ngozi made a cool N3,500 profit just by cooking (processing) the meat and selling it back to where she bought it from.
That is 350% profit and yet she still had excess remaining to sell to other customers. So who is wise and who is foolish here?
Let us relate this story to our dear country Nigeria.
We sell crude oil to UK at $110 per barrel and we are very happy; so happy that we spend the money lavishly, and then go back immediately to UK to buy the processed crude oil in the form of Kerosene, PMS, AGO, Tar, petroleum jelly, wax, petrochemicals etc.
At the end of the day we end up buying these products at 12 times the cost of what we sold them. How is it possible Nigeria is not broke.
Nigeria sure has been broke since 53 years ago.