Will the fuel scarcity end soon?
The G.O says the end isn't in sight, for these reasons:
1. Nobody is taking responsibility for the remediation of the February dirty petrol. Cost of remediation is huge.
2. In spite of the claim of NNPC, there is no fresh fuel injection
The G.O says the end isn't in sight, for these reasons:
1. Nobody is taking responsibility for the remediation of the February dirty petrol. Cost of remediation is huge.
2. In spite of the claim of NNPC, there is no fresh fuel injection
The 20k MT of fuel which was on anchorage on our waters a few weeks ago ( February 14 - 27) CANNOT clear the fuel queues. NNPC cannot make further fresh fuel injection because it won't accept it is broke. And it can't make fresh fuel injection with the current global oil price
3. The racketeering aided by NNPC is making fuel injection into the petrol stations' forecourts impossible. For these reasons:
a. NNPC has shut its eyes to fuel depots, privately owned, selling petrol way above the depot lifting price of N148 per litre.
a. NNPC has shut its eyes to fuel depots, privately owned, selling petrol way above the depot lifting price of N148 per litre.
Depots tankers are lifting fuel at astronomical prices, ranging from N200 to N250 per litre;
b. With such high depots' prices, smuggling of fuel has been incentivised by NNPC. Takers are smuggling oil-laden tankers to neighbouring countries where fuel is sold N400 per litre
b. With such high depots' prices, smuggling of fuel has been incentivised by NNPC. Takers are smuggling oil-laden tankers to neighbouring countries where fuel is sold N400 per litre
4. The government is broke and unwilling to come clean on the true state of public finance in Nigeria.
Truth be told, we've no strategic oil reserve, in spite of the historical claim that one exists in Abakaliki, from which petrol can be released to glut out current scarcity
Truth be told, we've no strategic oil reserve, in spite of the historical claim that one exists in Abakaliki, from which petrol can be released to glut out current scarcity
We are in another nightmare as it was in March, 2021. As it was last year, this government still tell lies about the state of oil consumption in Nigeria, considering that the current scarcity may be a prelude to jerking up fuel price. The oil marketers know this as a truth
As we brace up for three or more weeks of bitting fuel scarcity, brace up for astronomical spike in the prices of food stuff and household commodities.
Inflation is here, so are the hard times.
Good morning from the sanctum sanctorum of the shrine
Inflation is here, so are the hard times.
Good morning from the sanctum sanctorum of the shrine
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