We have watched as the NNPC hiked our daily fuel consumption of petrol from 30 million litres to over 60 million litres, yet over 70% of the country suffer from one form of scarcity or another.
To justify the above claim, they told us that they have spent $5.8 billion between December and February. If you do not know, this is N1.76 trillion ( 20% of the 2018 Budget).
They claim they imported 9.8 million metric tonnes of fuel within this period.
In 2017 alone, NNPC spent $28 billion to import fuel. Yet early last year, we celebrated “our refineries”. Of this figure, they claim 40% is spent on logistics alone.
Can we ask some questions?
In 2014, a litre of petrol was N87 and government was spending less on fuel subsidy which was equally enmeshed in corruption. But at least, the product was available.
This government came to power, using the corruption within the fuel subsidy regime as plank for the need to vote out the former government. They hiked the fuel price from N87 to N145 with the excuse that this will help balance the market and remove subsidy. We agreed.
But today, this same government through the NNPC is spending more on subsidy ( N1 billion daily) yet fuel sells N145 per litre in Lagos and Abuja mostly, with other parts of Nigeria buying fuel at higher prices.
Can someone compare what was being spent annually on subsidy payments under the “very corrupt” government of President Jonathan, and what we are wasting today on same subsidy, yet the products are not available?
As if that was not enough, they hiked the quantity of fuel imported to almost 60 million litres daily, claiming that the need to curb scarcity is responsible.
If we still have scarcity in many states of the federation, what happened to the fuel NNPC claim it brings in daily?
The cheap excuse they have been giving us is that unscrupulous elements diverts fuel to neighboring countries.
Figures from the International Energy Agency show that the total fuel consumption of all our neighboring countries is 153,200 litres per day.
Chad consumes 11.2 litres per capita or 2,200 barrels per day; Togo 13,000 bpd or 102.6 litres per capita; Niger Republic 14,000 bpd or 46.5 litres per capita; Benin Republic 41,000 bpd or 234.2 per capita; and Ghana 83,000 or 157 litres per capita.
These markets combined cannot absorb the volume of petrol “missing” daily from Nigeria.
WHERE IS THE MISSING FUEL?
The DPR is lost.
The PPPRA claim they have no idea what is happening.
Figures from the NPA is unreliable.
Who can provide the true figures of quantity of fuel NNPC claim it imports?
No country can grow where you have an agency that is above the law, above oversight functions of legislators, above scrutiny, above the law.
The amount of money being siphoned daily through NNPC operations which they recently claim Nigerians have no power to demand access to, is unthinkable in the history of Nigeria.
NNPC is still paying millions for the Petroleum Equalisation Fund, yet fuel prices are anything but uniform across neighboring states.
To think that this is happening under the very nose of a government that came to power with a promise to fight corruption makes it more disheartening.
I keep saying that Dasukigate will be a child’s play.