There is very little time left.
Anyone who has the government's ear (APC) should begin to nag those in power.
Civic society groups are supposed to have been up in arms for the past month. Or are they yet to realise the imminent calamity we're about to face?

All the nation needs, all the economy needs is a single policy statement from GMB.
Those who want a diversified economy will have to wait a while longer- up to 2 years after we get an economic blueprint.
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*Modified:

When Obasanjo and Olu Falae engaged in a presidential election debate, Falae outlined plans for a trans-continental crude pipeline to supply countries from Cameroun to Angola.
He was laughed at and lost the election at that podium.
Meanwhile-
"25 Feb 2015 ...Canadaalready sends 550,000 barrels of oil per day to theUSvia the existing KeystonePipeline."
-http://www.bbc.co.uk/news/world-us-canada-30103078
Imagine: we would have eliminated all the scams, minimised bunkering, reduced transfer losses, etc, etc.
Anyway. Moving on.

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We need to engage ALL our neighbours with refining capacity in crude swap deals that benefit THEM. This will reduce subsidy to the bare minimum.
We need to put an end to subsidies IMMEDIATELY in order to remove that burden from government and have money for capital projects- unless we want to borrow with a weak Naira?
SELL OUR REFINERIES!! Instead of giving out licenses, we MUST split up each refinery and sell small stakes in what we ALREADY have so they begin to show immediate effects. To calm nerves, we can maintain a majority/controlling stake in the shares. This Public Private Partnership will ensure expertise is utilised maximally- and they'll chase up the effectiveness of these refineries in order to make their profits.

As usual, shoot holes via constructive criticism.
Questions, Insights and Suggestions, all welcome.

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*Modified-
Up next: The Economy, You and Me.

well!you are too generalized to tackle that issue!
streamline your area of concern to the public and let us see how it goes but Naira land is more into
"let us stone Jonathan game mode"
and It happens to be PMB favorite game

Yeah, I feel you.
That's coming soon-
Up next: The Economy, You and Me.

Are our neighbouring countries' refineries privately owned or government owned?

if their refineries are government owned, why do we need to privatise our own. Don't you think corruption is the bigger problem?

As for funding, buhari knows what he was doing by putting Dr. Babatunde fowler as the firs boss. Nigeria has very low tax rates. If people rich people are made to pay more taxes, all our funding issues will be solved. Most countries are not run on oil income but on taxes.

I'm yet to see a developed nation whose government runs any profit-making firm, not even the petroleum sector- and this includes China.
FIRS will make significant impact, but remember- our economy relies on oil and imports. Oil prices falling, nations not buying, imports dwindling. I've begun to see shops in my area close down. So if the economy weakens, you'll be collecting very little tax from nothing.
And the rich are the most inventive in hiding their wealth; the UK government has been chasing wealthy Brits for DECADES with very little effect! So expecting to get more tax out of the rich is a fool's errand.

Government has no business subsidizing refined products. Collect your tax, strengthen institutions and use the increased revenue from high petrol/kerosene price to fund your welfare programs- free healthcare, mass housing, world-class public transportation system, pension reforms. If Buhari is serious, that's what he'll do. ASAP. And these things only cost what it takes to make a policy statement.
But if he's still wary about subsidies, then he should IMMEDIATELY enter into talks with nations that will refine for us and take crude as payment. I read that we used to have such an arrangement before with VENEZUELA!
http://www.ngrguardiannews.com/2015/06/nigerias-daily-fuel-subsidy-drops-to-n1-8-billion/

What happened?! Why did they stop it?

Immediate sources of government revenue: We'll discuss this later.