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Therefore our policy of setting aside crude for local refining is outdated and counter productive and should be STOPPED.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.
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.
41 comments:
Oooo....they didn't know these facts when Jonathan was ruling!?
I won't read the write-up but the topic is enough yeah??.. U want us to be like bene republic n be selling black market fuel that knocks engine huh?? Cos I can't remember counting up to 5 functioning filling stations within a 20km radius in that town.. Oh well.. Bye!
Abeg, take several seats.
Omoge
When der was corruption we hav everytin pls we are tayad of change,giv us corruption
u suppose talk am b4 for your admin with jona,,,
u suppose talk am b4 when u and jona dey power
Una headache
Are you just realizing dat now??? Linda take note!
Mofo....why didn't you tell all of these to GEJ
....why didn't you tell all of these to GEJ
As this one is supporting tinubu is bashing
This NIGERIA ehn
Hmmmm oga o
Very shameful
It is more than shameful oOoo
I'm beginning to like this man. I think he's the definition of a Realist.abi?
I wonder ooo
Mr Doyin Okupe, there was fuel scarcity during GEJ. Make una just chill and let dem APC work jare!
Why should they? They manage their funds better. Besides, it's a different species of human beings living in Nigeria. The greed of Nigerians is just 3 much. If they want to take their light in Togo, they announce it. We need to dedicate 2days where all religions in naija will fast & pray.
Hmmm, don't even knw wht to say. Linda observe!
Like you said, "they are small countries."
Why didn't he advice his former boss in this way? Mtchew
In a country where we live for today what else can one expect?
Dey dnt have fuel queues cos dey r not many.we cant compare deir population with nigeria s
Tel em sir.......I tire....
Nigeria is a sham and a shame
South Africa doesn't have crude oil but petrol has never been scare in the garage...again with the drop in price of crude oil in the internationa oil market...South Africa has reduced the price of fuel, diesel and paraffin(kerosene) more than three times. Now thy enjoy an equivalent of N50 drop in the price of petrol.
From Gowon to the present administration under developed Nigeria.
It sure is
-D great anonymous now as Vivian Reginalds
It's not only embarrassing but also annoying and to even think we "claimed" to be the giant of Africa sickens moi!
Nobody will deregulate anything cos d instigated pple during d last adminstration. Many pple were killed and injured cos of them .
See this okupe ooo.lol
Okupe, I feel u bro. Buhari was hailed as a man to provide the panacea for all our problems - at least in theory...little did we know our problems were just about to become exacerbated under his watch. Besides the fuel scarcity menace, there hasn't been any meaningful improvement in any sector of the economy as this govt approaches 365 days in office. His cack-handed ministers haven't help matters either. unfortunately, no leader has ever succeeded in advancing a country with single-track mentality.
They dont have fuel quee becouse pdp never rule in those country yaksmoh say si
Buhari is only beginning to realize 1983 isn't 2016. Somebody should pls tell him what the time is.
Okupe and his principal lost their ways the reason they were chased out of office by common folks they couldn't care less about.
Okupe shld just shutup already cos fuel scarcity as always been Nigeria's problem rite 4rm when pdp as been in government. Gej term was worst in terms of d fuel scarcity so doyin okupe shld just take a chill pill
i hope this administration will humble himself and take his advice; at this point it's about Nigerians. Ordinary Nigerians are suffering and it's time PMB do something differently for the sake of Nigerians
Six years of past administration there was no fuel queues. There was something they did that this administration has fail to do. Doting was in kitchen carbinet, they should listen to him.
Nigerians are suffering in silence
At least there was no fuel queue for six. Don't you think they should listen to him? Kinda ignore the preacher and take his advice?
See mumu man, the both country is not up to half nigeria population
#reeshahr
Bros there was none. Don't you guys this should be about ordinary Nigerians? People are suffering, it's time we put politics aside and do something for the interest electorate who believed in us.
But there was no queue
Nija should grow pls ... We dont need old eggs anymore ...
I Nigeria a Big country before?
We r jst bunch of illitrate laying Childrens lyk fowls...
Population doesnt make a country Big...Productivity does...
4 now...me dey find APC to join...I need my national cake too...
Sai Baba...
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