It started like a trivial development that would soon fizzle out with time. Most government officials that spoke about it gave a glimpse of hope that all would soon be well. We were told that within a couple of days the market would be flooded with petroleum products and that the pains of Nigerians would soon be over. But quite surprisingly, the fuel scarcity being experienced across the country lingers on. After almost about two weeks of waiting in vain, Nigerians are becoming agitated because of the ensuing agonies and frustrations associated with the scarcity. Most filling stations in major cities across the country have become a beehive of activities with multitudes of people waiting endlessly for the scarce commodity. In the few places where the product is available, it is being sold at very exorbitant prices beyond the reach of the ordinary folks. 

In Lagos, motorists and commuters are groaning under the heavy yoke of fuel scarcity. From all indications, this particular occurrence might take a bit longer before it subsides. Feelers from experts in the sector have revealed that this current shortage might last for some time bearing in mind that fuel marketers are not really sure about the likely attitude of the incoming Buhari administration towards fuel subsidy and other related matters. According to experts, the major marketers might want to be very careful with regard to fuel importation until they are certain about Buhari’s policy direction for the industry.

The availability of petrol, a major by-product of crude oil, is crucial to the continuous survival of the country’s economy. Factories, companies, industries and, indeed, homes hugely rely on this product on a daily basis for optimal performance. In essence, its non-availability could disrupt economic activities considering the unreliability of public electricity. Fuel scarcity is one plague, like corruption, that we are yet to find a lasting solution to in the country. Successive governments have had to contend with this problem without achieving much success. At some point, especially when the refineries in the country were no longer functioning at best possible capacity, the crisis became so alarming that Nigerians were spending days at filling stations just to get this all-important product.

Characteristically, the few filling stations and ‘black market’ operatives that are selling the product are ripping Nigerians off by selling at cut-throat prices in spite of the stress that people have to pass through to obtain the product. Consequently, civil servants, lecturers, students, health workers, among others, are presently battling with the adverse effects of the lingering scarcity. As it is customary, transport fares to various locations in the metropolis have sharply increased, with commercial bus drivers readily fingering inability to access the product as justification for the increase. Similarly, security at various homes in the state is being threatened as most people cannot get the fuel to ‘power’ their generating sets. The implication is that Nigerians can no longer sleep with their two eyes closed.       

It is sad that Nigerians have to suffer so much to get a product that nature has endowed the land with. Those that actually benefit from the oil wealth of the country are the few political and economic elites who get engrossed in many dubious oily deals. What the masses often get is incessant increase in the pump price of the product. Of course, Nigerians are not new to such as succeeding administrations in the country have had to increase fuel prices on various occasions. A chronicle of increases in the price of petroleum products in Nigeria reveals that every regime since Gowon has, at one time or the other, tampered with fuel prices for one reason or the other.

The Gowon regime that presided over the oil boom era in the country increased fuel price from 6kobo to 9.5k. Obasanjo, in his first coming as a military leader, jerked the price from 9.5k to 15k, while the Babangida regime moved it up from15k to 70k. The interim government of Ernest Shonekan also increased fuel price from 70k to N5. The Sani Abacha-led military regime moved it from N5 to N11, while the Abdusalami Abubakar administration took it up to N20. Obasanjo, in his second advent, increased it to N70, while the administration of late President Yar’Adua reduced it to N65. His successor, President Goodluck Jonathan, moved it to N141 before slashing it to N97 having met with stiff opposition from Nigerians.

In recent time, the Nigeria National Petroleum Corporation has come under heavy criticisms in view of its gross ineptitude and lack of accountability and transparency. It is rather shameful for a country reputed as the sixth oil exporting nation in the world to continually subject its citizens to the annual agony of fuel scarcity. The question, of course, is: how long will Nigerians continue to bear the burden of the incompetence of those who rule us? It is bad enough that our lives are being endangered as a result of security challenges. It is bad enough that public electricity supply has remained epileptic, in spite of several reforms and fund committed into the sector. It is, however, undesirable that Nigerians should continue to suffer before they could get fuel, a product that providence has blessed the country with.

It is hoped that the incoming Buhari administration would look into the various allegations of incompetence, lack of transparency and accountability being levelled against NNPC. Let the change that Buhari and his party promised begin with the country’s oil sector. This is the time to sanitise the sector to ensure that probity and transparency become the order of the day. Nigerians do not deserve this continuous suffering in the midst of plenty.

Tayo Ogunbiyi

Nigeria's leading finance and market intelligence news report. Also home to expert opinion and commentary on politics, sports, lifestyle, and more

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