The scarcity of Premium Motor Spirits (PMS), otherwise known as petrol, has continued to pose a significant threat to the smooth economic life of Nigerians. Fuel is directly or indirectly connected to the economic sustenance of every Nigerian. Unfortunately, that’s the area saboteurs and economic predators have chosen to vent their fangs – one, to accumulate money for their insatiable appetite for primitive accumulation, and secondly, to manipulate the economy and unleash hardships on the citizens, ostensibly to give the President Bola Ahmed Tinubu administration a bad name just to hang it for cheap political points.
As I have always opined, the people suffer where businessmen appear to be stronger and smarter than the law; it breeds semi anarchy. That is what Nigeria and Nigerians are facing. Alas, while the Economic and Financial Crimes Commission (EFCC), Independent Corrupt Practices and Other Related Offences Commission (ICPC), Department of State Services (DSS) and other law enforcement and anti-graft agencies are shying away from their responsibilities, criminals are making life unbearable for vulnerable Nigerians in the name of business.
In view of the hardship Nigerians are going through, President Tinubu must rise to the occasion by introducing performance benchmarks for our law enforcement and anti-graft agencies. Until our law enforcement agencies double their efforts and ensure some of these unscrupulous and undesirable elements are used as scapegoats to serve as a deterrent to others, we will not enjoy peace.
Instead of fuel stations to play their role of selling and dispensing fuel, they have turned to an arena for hoarding fuel. The fuel queue that is building everywhere is caused by hoarders. This has given rise to fire outbreaks. Look at the hoarding in filling stations like the one close to the Aso Rock Presidential Villa at AYA, as if you’re heading towards Kubwa expressway. Apart from the security breach it is causing, what if this illegal business of hoarding fuel results in a fire outbreak that could affect the seat of power? God forbid.
Worse still is the embarrassing situation whereby black marketers line up along our streets with fuel in gallons, while there’s no fuel in the filling stations to dispense. In the same streets, members of the diplomatic community in Nigeria pass. This is exposing the country to untold mockery and ridicule.
The Minister of the Federal Capital Territory (FCT) should constitute a taskforce comprising the DSS, Police, NSCDC and others, including a legal adviser to monitor and prosecute these hoarders because it is dangerous that not up to 100 meters from the president’s residence, gallons of fuel hoarded could be used by enemies of the government to create unnecessary security threats. The Force Headquarters, National Assembly, DSS Headquarters, and ECOWAS Headquarters are all under threat by these fuel hoarders.
We are seen as people who are not serious, or people who can’t manage their own affairs. The most painful of all is the sad reality that Nigeria, which is number one in Africa and a ranking member of the Organisation of Petroleum Exporting Countries OPEC), can’t meet its refined petroleum needs. Hoarding is a serious economic crime, and perpetrators must be treated as criminals.
The various administrations since independence had taken varied steps to navigate the Nigerian economy from oil as the driver of economic life. Alas, such efforts have not been properly focused due to concatenation of factors, among which is appropriate laws that would encourage inflow of investments into the oil and gas sector.
Worried by this sad state of affairs in the sector, President Tinubu, on assumption of office in 2023, decided to handle the situation differently by downplaying politics and face the issue fair and square. These culminated in the swift implementation of the Oil Sector Reform Act and the attendant subsidy removal.
While working assiduously to diversify the economy away from oil, President Tinubu is not unaware of the influence of oil and gas in the global economy. With the new law, it is expected that Nigeria will start reaping the fruits of its God-given natural resources.
In fact, President Tinubu is leveraging Nigeria’s abundant deposit of gas to warm Nigeria’s way back to global relevance. Leaders of various countries are beginning to approach Nigeria cap in hand to seek for partnership in the area of oil and gas. As a deft leader that he is, Tinubu seized the opportunity of his meeting with various leaders, especially European leaders, to restate Nigeria’s readiness to fill the oil and gas vacuum created by the diplomatic face-off between Russia and the West over Ukraine.
The president’s directive for NNPCL to sell crude oil to Dangote and other refineries in local currency (naira) is a soothing relief. The efforts at reviving the Port Harcourt refinery are also a step in the right direction.
But while Tinubu is busy engaging various international stakeholders in the oil and gas sector for maximum benefits for Nigeria and Nigerians, mischief makers back home are making life miserable for Nigerians through artificial scarcity and unnecessary price hike. It is disheartening to note that despite the huge resources Nigeria is expending on the subsidy regime, Nigerians are still buying petrol at cut-throat prices. Major oil and gas unions like NUPENG and MOMAN are putting all their efforts to stabilise the nation’s oil economy, while waiting for prosecution of perpetrators of the fuel subsidy scam which is long overdue.
Curiously, state governors and their commissioners have remained silent about fuel scarcity in their states and country, and are only waiting for their monthly federal allocations. What a country? They all must wake up and join hands with the government at the centre to put an end to this PMS scarcity menace.
Without an iota of a doubt, apart from stubborn economic behaviours and profiteering intent, these elements are being influenced by powerful forces to paint the Tinubu government black.
It is obvious that the government needs to do more in the area of heavy hands. Every operator in the oil sector is licensed by the government. Now that a clique has decided to be law unto themselves, President Tinubu should consider withdrawing the operating licenses of erring stakeholders to serve as deterrent to others.
The most painful aspect of the fuel debacle is that those who sell at the black market have enough fuel to sell, while most fuel stations are under lock and key. The question begging for answer is, who is selling to black marketers?
As a professional and key player in the sector, as well as a member of various advisory councils to both international and African downstream oil sectors, I have come to the indisputable conclusion that something is wrong with the Nigerian oil sector. The political cabals are using certain persons in the sector to frustrate government’s efforts. The plan is to instigate Nigerians against President Tinubu by creating fuel shortage. Unfortunately, it seems both local and international media do not have rich knowledge about Nigeria’s oil and gas economy which is reflected in their poor coverage of the sector.
Nigeria is practicing democracy; hence, everything should be done democratically to achieve peace, prosperity and order for all. Let it be known to these recalcitrant elements that President Tinubu’s democratic tendencies and benevolence should not be mistaken for weakness. No government will fold its arms and allow a few greedy elements to cripple economic activities just because of their narrow interests.
In conclusion, the persistent scarcity of petrol in Nigeria is a deliberate act of economic sabotage by unscrupulous individuals and groups, aimed at undermining the Tinubu administration and causing hardship for Nigerians. Despite the government’s efforts to implement the Petroleum Industry Act and diversify the economy, these economic predators continue to hoard fuel, manipulate prices, and engage in other nefarious activities.
It is imperative that the government takes decisive action against these unscrupulous elements, including withdrawing operating licenses and enforcing law and order, to restore sanity to the oil sector and ensure the well-being of Nigerians.
On their part, the intelligence agencies must also step up their efforts to identify and prosecute those involved in these illegal activities. Ultimately, President Tinubu must demonstrate his resolve to protect the interests of Nigerians and prevent a few greedy individuals from holding the country hostage. Good enough, we have a president with a listening ear. The Midstream and Downstream sectors of the country’s oil leadership must be cross-checked, monitored and investigated by forensic experts and special investigative panels who will report back to the president just like what happened to the CBN.
It has always been our prayer during our meetings of the Northern Alternative Forum that the president should change the country’s dwindling economic fortune. At every session of the forum, we keep telling God: “Oh Allah, you have seen the cabals in the oil sector who are inflicting untold hardship on Nigerians just to sabotage the President Tinubu administration. Almighty God, make it easy for our president and give him the strength to deal ruthlessly with enemies of his government and bless his endeavours targeted at improving the living standards of Nigerians”.
