Petrol shortages are hurting and worrying
Since last week, the federal capital territory has been hit by an acute shortage of Petrol. The problem has spread to no fewer than five states without any explanation from the Nigerian National Petroleum Company (NNPC) Ltd. “It is obvious that there is supply shortage in Abuja and other states that are close to the FCT,” said the Independent Petroleum Marketers Association of Nigeria (IPMAN) national secretary, John Kekeocha. “This is the reason why many filling stations in these areas are not selling PMS, which, of course, has led to the serious queues you see in the few ones that are dispensing the product.”
Whatever may be the excuse this time, the federal government must note that numerous productive hours are being lost at fuel stations by motorists while the savings of commuters are getting depleted with the hike in transport costs. Despite claims to a removal of subsidy in the downstream sector of the petroleum industry and the fact that the pump price has almost quadrupled since President Bola Tinubu assumed office last May, long queues of vehicles at fuel stations have become a common feature in Abuja. What is becoming clear is that no remarkable progress has been made in the management of our downstream petroleum sector vis-à-vis arresting cyclical petrol scarcity, even when Nigerians are paying far more than they did in the past.
It is indeed unfortunate that in the past six decades, oil has continued to fuel the hope as well as despair of Nigerians. That perhaps explains why few people can understand how the sixth largest producer of oil in the world cannot find the product for its domestic use. As Nigerians groan daily at filling stations, the stark irony of this predicament is one they cannot hardly fathom. It is as confusing as it is frustrating. The question that remains unanswered is whether Nigerians would ever see an end to the perennial scarcity that has come to define the management of the downstream sector of the petroleum industry. This should worry the current administration, especially since there seems to be no coherent policy in place to deal with the issue in a holistic and lasting manner.
As we stated recently, no sector exemplifies regulatory failure in Nigeria more than the oil and gas industry. Aside from having to contend with wasting billions of Naira on importing toxic fuel that often damage several vehicles, consumers are unfairly made to bear the brunt of product scarcity. A resurgence of fuel queues in major cities across the country has exposed the mess in the sector and there is a need to demand accountability.
We cannot emphasise enough the fact that an oil producing country should have no business with shortages of refined petroleum products. To have this consistently on is to conclude that we have poorly equipped managers running our national life and their decisions are hurting all of us.
From daily hikes in costs of staple foods, transportation, school fees, house rent, and other routine expenses, Nigerians are groaning under harsh economic conditions arising from recent reform measures. To now add fuel scarcity to their problems is indefensible. The fact that subsidies are still being paid, fuel costs have gone up astronomically and the commodity is now also no longer readily available raises pertinent questions that demand urgent answers from the Tinubu administration.
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