Decision analysis of petrol (PMS) subsidy in Nigeria
SYSTEMS APPROACH TO THE SUBSIDY REMOVAL... "Decision suggetions" and implication in 2016 The problem in Petrol can be modeled as- "TRAGEDY of COMMONS" - Agents use common limited resource to profit individually. As the use of the resource is not controlled, the agents would like to continuously raise their benefits. The resource is therefore used more and more and the revenues of the agents are decreasing. The agents are intensifying their exploitation until the resource is completely used up or seriously damaged. #The previous government's approach to oil problems however can be modeled as- "FIXES THAT FAIL" - The problem approached by some fix (a specific solution- "subsidy") with immediate positive effect. Nonetheless, the “side effects” of this solution turn out in the future to corruption and depletion of reserve. However, as Nigerians who have seen alot and are going through pains and hardships #What WE Like can be modeled as- ...