Business How 'Cabalization' Works in Nigeria - 8 Simple Steps



Nigeria - Dr. Peregrino Brimah, in an article titled "Cabalization of PHCN Leads to Exorbitant Electricity Bills For Nigerians" explained in detail how Nigerian sectors are cabalized by different individuals.


However here are 8 "simple" steps about how it works:

1. Allow the cabal to disrupt processes of repair and utility of public assets.

2. Make it appear impossible to run and maintain public assets.

3. Overhaul them at a stupendous price paid by tax payer/ national income.

4. Offer them for sale in a shoddy process to your cabal partners in whose companies you have stock.

5. Sell them at one tenth the amount you used to overhaul them – effectively looting billions in an instant.

6. Allow unregulated exorbitant rates for the utilities the now privatized assets provide.

7. Enforce an oligopoly for the utilities, barring natural competition.

8. Relax and enjoy your looted state wealth and reap crazy dividends in quarterly returns from your shares in the cabalized companies.