The lingering fuel crisis
The festive season that just went by is one some Nigerians would really love to leave in the recesses of their mind; the reason is because why some persons were at home enjoying the thrills that come with the season, others found themselves in a queue at the filling station pushing to get their automobiles fueled for the journey ahead. That went on for a couple of weeks and the situation was brought under control thereafter- albeit for some moment- but the fuel crisis which was thought to have abated is rearing its ‘ugly head’ again as long lines of vehicles can now be seen at various filling stations. With the reemerging crisis, motor users are now buying Premium Motor Spirit (PMS) at a relatively high price, and some petrol stations are even out of service while commuters are left stranded or paying more to get to their respective destinations.
At the core of the crisis is the rumored hike in the price of the commodity as the airwaves are rife with reports that fuel price could rise from N145 to something in the region of N180. Again, fuel marketers have identified the inadequate supply [of fuel] as being the reason for the lingering crisis. But is it not rather perplexing that a nation that stands as a major oil producing state in Africa cannot provide fuel for its citizens without any struggle?
As it stands, it is obvious that the fuel crisis we are experiencing nationwide has two major sides to it: the first being the issue of pricing and the other, centering on shortage in supply. While marketers’ opinions may vary as it regards the price of premium motor spirit, the government is bent on seeing to it that the price of the commodity remains fixed at N145, and it is good to see officials of the Department of Petroleum Resources going round to ensure that marketers keep selling at this price; with deterrent being hit with sanctions. Nonetheless, DPR officials need to extend their tentacles to some other areas of different states across the nation- this may however require the engagement of the populace [who needs to intimate the regulatory body on cases of illegal pricing] since these (DPR officials) understandably have their limitations.
On a more intricate ground however, the inadequate supply of the commodity is an issue that can be traced to a bigger [and deeper] problem that has bereft the oil sector for a long time now: the non-availability of functional refineries, is in itself a major challenge that has been left unattended. It is appalling that different administrations keep overlooking the need to bring up functional refineries [even when countries with comparatively lower oil production capacity and population density are able to run a refinery]. Notwithstanding, all is not lost as we anticipate Dangote refinery coming into full operation by the middle of the year, and I believe it will not be a bad idea to set up government-run refineries in order to supplement a private establishment like the Dangote refinery. Doing so will, no doubt, boost the supply of fuel across the nation. Again, bringing the refineries in Port Harcourt, Kaduna and Warri back to life will help in an immeasurable way.
And while we look forward to these long-term solutions, it is expedient that the government make concerted efforts towards making the queues that are presently commonplace in different filling stations be a bygone issue in a matter of days without any increment in the price of the commodity.