The Federal government just increased the price of petroleum from N86 to N145/litre. This was announced by the GMD of NNPC and the minister of petroleum Ibe Kachukwu. I knew it would get to this stage after all the stage-managed confusion.
There’s something dark in the oil industry. There’s something eternally opaque about NNPC. Now check this out: In January 2012, at the peak of the fuel subsidy crises, the price of crude oil was dangling between $115 to 120/barrel. Then, the Government at that time proposed that the appropriate price for petroleum must be about N141/litre. Now with crude oil selling at $40-45/barrel, the proposition is N147/barrel. How does that work? It shows that something is not right somewhere.
If the proposition for the price of domestic petrol is almost the same as the crude oil price varies widely, then there’s something fundamentally wrong. If you have been reading this blog, I have always expressed my reservations on NNPC. I knew that organization harbours something that is inimical to the totality of what Nigeria desires.
The maths is simple: If we have same price of petrol/litre at the time crude oil price was very high and now at the time of low crude oil price, it means some people’s “convenience/corruption” must be sustained. Some people’s mode of life must never change even if the crude oil price is at $10/barrel. It depicts the reason that makes the refineries unworkable. It’s simple!!
It is official: Nigeria is now an appendage of NNPC and NUPENG and not the other way round. NNPC can afford to make the refineries dead and no one is held accountable to anything. Infact, Nigerians are made to pay for NNPC’s inefficiency. NNPC can afford to import fuel and mess up the distribution of the fuel, with the help of their friends in NUPENG, and we should clap for them. Tell me who lost?
To make the matter more laughable, NNPC wants to do JV with others for the management of Refineries. Tell me the kind of relationship that would be? If NNPC still remains the way it is, then, Nigerians must brace up to “bailing” NNPC out of her corruption and total inefficiency. I hope that Nigerians have the wherewithal to withstand NNPC and NUPENG blackmail. If not, they win as they have always done..
Now that the fuel price has been increased, why do we still need NNPC as it were? Why? This is double jeopardy on Nigerians. I hope Nigerians would wake up to this reality…Ewolewoo!!
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