Opinion: Fuel Price Increase In Nigeria Caused By Massive Importation & Stealing Of Crude Oil

May 16, 2016 – Opinion: Fuel Price Increase In Nigeria Caused By Massive Importation & Stealing Of Crude Oil

Nigeria Should Repair Damaged Refineries Now

I will always agree with peaceful protest anywhere in Nigeria, but we must always remember where we are before now in order to appreciate where we are today and devising strategies for the future. How much was a liter of petrol when President Buhari took over 11 months ago?

The fact is that the president is no longer a military dictator with the absolute power to govern over every aspect of the nation. PMB has to govern within the stipulated laws as written in our messy constitution. Another reason why the price has gone up is the unstoppable power of Petroleum marketers since we currently have no single operational or functional refinery at home.

For the past twenty years, all our four refineries built by then Petroleum Minister-General Mohammed Buhari have packed off due to sabotage from our fellow Nigerians who benefited greatly from the importation of our crude oil abroad and then sell the finish products-petrol and kerosene at ridiculous prices and at their own mercy. Nigerian problems are the mighty, influential, and very wealthy billionaire that make billions of dollars profit from the pain of the masses.

Can PMB perform the needed change in 11 months, 4 years or even 8 years? The answer is capital “No” Why? Until we repair all our abandoned refineries or build new ones in order to force those oil gangsters out of business of refining our crude oil abroad, no president or dictator can have control over the prices of petrol and kerosene in Nigeria. Building a new refinery is a capital intensive project that require huge capital and plenty of time to complete.

Nobody or firm can build refinery overnight. They frustrated his efforts two months when the president wanted to dictate to them the way and manner they should conduct oil refining and marketing by diverting the finish products to other nations. The result was fuel scarcity that almost collapse our fragile economy.

These crooks will do whatever it takes to stop the government or private investors like Dangote to build a functional refinery here at home. Until this is done, PMB cannot control the prices of kerosene and petrol by those wealthy billionaire in every tribe, state, and region of Nigeria.

Nigerian problems are internal by highly powerful, wicked, unpatriotic, and thickly rich people across our nation. If we can get constant supply of kerosene and petrol at N145 per liter without long lines at our various petrol stations, that is far better than getting it at the black markets because of the evil of Nigerian oil marketers.

[Opinion Article By Omokehinde]