Politics

The Failure of Nigerian Leaders Led to Impending Fuel Scarcity

The allegations of impending fuel scarcity have again reared it's ugly head. The Nigerian National Petroleum Corporation (NNPC) while debunking this news claimed that the trending social media report of an impending fuel scarcity due to purported refusal by some oil marketers to lift products from depots was false. Ndu Ughamadu, Group General Manager, Group Public Affairs Division, appealed to Nigerians to disregard the rumour because NNPC has over one billion litres of petrol in stock while imports of 48 vessels of 50 million litres each have been committed for the month of April 2019 alone.

Let’s take a moment to recall how many years of independence Nigeria has enjoyed. Then let’s take another moment to think about how many refineries we could have bought with all the funds that have been stolen over the years. Then think about how much fuel would have cost if we did not import it. Think about how little transportation would have cost and the effect on commerce. Think about the exchange rate of one Dollar for Naira if we do not import 50 million litres of petrol every month. Think of the number of extra jobs that would have been available in the country. Then draw your conclusion. Should the citizens of a country, with crude oil underneath their feet, suffer from fuel scarcity?

Let’s consider the Trade Money Scheme that disburses money to petty traders which is part of the National Social Investment Programme(NSIP). This programme has consumed 30 billion Naira since it was introduced in 2016. Apart from the problem of transparency (most of the money distributed by this committee cannot be well monitored.), there is also the problem of the short term and the long term effects of this programme. All Nigerians, especially entrepreneurs would have been more grateful to the government if this money was diverted to infrastructural growth. Ease of transportation and electricity are just a few landmarks of economic growth. The youths would have also been grateful for the employment opportunities infrastructural development would create

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  1. I think the problem of the current ruling party in Nigeria is that of planlessness. The 10,000 Naira Trader moni they are disbursing is not enough to boost any business. I will also like to know if the money is given to the traders as loan or ‘dash’. I honestly think that decision was taken by people with ‘almagiri’ mentality

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