Petrol (Motor Spirit) can be compared to the air by which people and organizations breathe in Nigeria. Scarcity and inflated prices of fuels put people in great discomfort and makes life difficult especially for the masses.
Nigeria has been sponsoring fuel subsidy to reduce the price of fuel especially Motor Spirit (Petrol). Government pays for a percentage of the fuel price to enable citizens buy at a comfortable price. It is not a gainsaying that the poor have benefited little or nothing from the fuel subsidy since it was introduced. Corruption has never allow the subsidy to favour the nation. Corrupt fuel sector stakeholders and political office holders collaborate to steal the nation's fuel to neighbouring countries making Nigeria 'Father Christmas' of Africa. Recently before the subsidy was removed, NNPCL (Nigerian National Corporation Limited) revealed that Nigeria spend about #400billion monthly on fuel subsidy.
The recent removal of fuel subsidy by President Bola Ahmed Tinubu have sparked wide reactions (mainly negative) from citizens. It is evident that fuel subsidy have grossly affected the nation's economy. However, tactical and strategic approaches might have been used in removing the fuel subsidy rather than the sudden removal which is putting the Nigerian masses in a difficult situation at the moment. Prices of commodities which are already at a galloping price are being doubled. Salary earners and the poor masses are finding it difficult to 'breathe'.
Removing Fuel Subsidy is not a mere task, it must be seen as a battle, battle against economic devourers and saboteurs who have taken advantage of this to enrich themselves.
A wise man first approach in solving a problem is vividly identifying the cause of a problem, correcting the errors that generated that problem or preventing it. Any attempt to be free from that problem without tackling it can be considered foolishness.
One of the reasons for the introduction of fuel subsidy was the fact that the country's four refineries which has the capacity to serve Nigerians and even more for exportation have been in deliberate dilapidated condition by enemies of Nigerian's progress. The exportation of crude oil for refining in other countries is increasing their wealth and they don't care whether the nation is suffering from their wickedness or not. The first tactical step in removing fuel subsidy is by putting these refineries in good order and monitoring their effectiveness. This would cushion the effect of fuel scarcity and as a result reduce the inflation of fuel prices when the subsidy is removed. The various means whereby Government gets money to fund 'unnecessary' projects and the 'rich empowerment programmes' can be channeled towards this. After all, these designed programmes usually end up reaching the minority of the masses. Majority of the funds are diverted for personal use and interests by internal enemies claiming to be leaders.
Another wise step that could have lessened the effect of fuel subsidy is providing alternatives to motor spirit (petrol) usage in the country. Countries like India and China have adopted this method. CNG (Compressed Natural Gas) is a very good alternative. It is cheaper and more safe than Motor Spirit which is the most demanded in the world. Independent Petroleum Manufacturers Association of Nigeria (IPMAN) revealed that Nigeria has abundant deposit of CNG gas and could be sold at #130 per litre. Creating facilities for the production of CNG for example and other petroleum products that can substitute motor spirit will go a long way in lessening the gruesome effect of high motor spirit products prices hike.
Eradicating corruption in the petroleum sector and in the political system must be first taken before all the aforementioned steps are taken, not to talk of removing fuel subsidy. If these wicked people are not flushed out, they will continue to frustrate all plans to make things better. If the new government administration is truly interested in the welfare of the people, They should cleanse themselves or else all these policies and implementations will be a square peg in a round hole.
All the recommended steps are not too late too be taken to deliver the nation from the effects of fuel scarcity and fuel price inflation.
Just learnt about CNG. Good job
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