In an article titled “The Truth about the Fuel crisis”, former spokesperson to former pres. Jonathan, Doyin Okupe, said that it’s a shameful thing for a country like Nigeria to still be experiencing fuel queues when smaller countries like Togo, Benin Republic, Botswana and even Swaziland never experience such.
He drummed support for all the measures being taken by the GMD of NNPC and Minister of State for Petroleum Resources, Ibe Kachikwu. Read his article which he shared on Facebook after the cut…
The
minister of state for Petroleum is a Nigerian I know by reputation
only. When he was appointed I actually wondered why on earth will a man
in his exalted international position and pedigree come into the murky
arena of the Nigerian oil business. It can only be patriotism.
Since he assumed office I have noticed a high level of professionalism and candour.
But Nigerians abhor the truth. The minister said a few weeks ago that it is cheaper to import
fuel than process our crude locally. I thought that should be obvious
to all discerning minds. Our newest refinery is 35years old.
The capacity of the refinery to fractionate
Crude
reduces drastically with age.In its best form you get about 51% PMS per
barrel of crude refined. But at the current ages of our refineries we
hardly can do more than 35-40%.
Therefore our policy of setting aside crude for local refining is outdated and counter productive and should be STOPPED.
Secondly the minister said this present fuel crisis will tarry till May and all hell was let loose. The Hon Minister is right.
He
quietly informed the Nation that NNPC is now responsible for 100% of
our fuel imports. The reason for this anomaly is not farfetched.
We
consume 40m liters of PMS daily. At about $645/tonne that comes to about
55cents per liter is $22m/day. Which importer and which bank in Nigeria
of today can open $22m daily?!!!! Not even the Almighty Nnpc! So that
is the real cause of the scarcity. The truth is what the minister said,
its not going away soonest.
The only reasonable, cost effective and
efficient way of ensuring Nigerians get petroleum products regularly and
continuously, without further complicating the unavailability of the
dollar and its continued stagnation of the national economy, is by :
1. Scrapping the PPRA
2. Stopping the allocation of crude daily for local refining.
3. Allocating appropriate volume of crude to the oil Majors under a transparent oil swap arrangement.
4. Invest in and improve the facilities of discharging PMS in all our Ports.
5. Completely deregulate the downstream
Sector
of the petroleum and stop the federal government from selling petrol.
Previous Nigerian governments have sustained this practice to their
detriment. We need not continue it especially in the face prevailing
economic hardship. It is not done anywhere and citizens are the ultimate
beneficiaries.
It is shameful and embarrassing that small countries
like Benin Republic, Togo and even land locked countries like Botswana
and Swaziland do not have fuel queues.
Source : Link L
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