Fuel Scarcity is a Ploy to Impose Price Increase on Nigerians, Analysts Say

Fuel Scarcity is a Ploy to Impose Price Increase on Nigerians, Analysts Say

  • Nigerians may be paying dearly for speaking against fuel subsidy removal, an analyst, Godwin Wuche said
  • According to Wuche, the body language of Aso Rock suggests they wanted to increase fuel price and used the current situation as a ploy
  • Osaze Omarogbon, an economic analyst thinks the situations is a normal supply constraints and could also be the handiwork of saboteurs

Nigerians have said the current fuel price increase is a ploy by the Buhari administration to impose the botched petrol subsidy removal on them.

According to them, having failed in their bid to remove subsidies from petrol, the government has resorted to creating artificial scarcity in order to raise the price.

President Muhammadu Buhari and NNPC GMD, Mele Kyari
President Muhammadu Buhari and NNPC GMD, Mele Kyari Credit: PIUS UTOMI EKPEI
Source: Getty Images

Analysts berates government for keeping mute

Energy policy analyst, Godwin Wuche said Nigerians are paying the price for standing against the government in its plans to remove subsidies and further impoverish the masses.

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Wuche noted:

“I knew Nigerians will pay in some way for speaking against the removal of fuel subsidy. The current situation calls for an extensive probe to find out why the government is hiding under the guise of bad product to punish Nigerians for rejecting a bad policy."

Wuche said for the fact that President Muhammadu Buhari did not speak, act or take punitive action against those who presided over the purported importation of adulterated fuel means that it is what they wanted all along, he said in an interview with Legit.ng.

He said:

“How can you preside over a rot, an obvious slap on the faces of Nigerians. People who knew what happened and how a product made its way from abroad into the country should be held accountable. Some people should either be in suspension or sacked as investigations continue.”

Saboteurs at work

But an economic analyst, Osaze Omarogbon thinks that the situation is the handiwork of economic saboteurs who wants to tarnish the image and work of the Buhari government.

Omarogbo said:

“In my own opinion, I don’t it is any ploy to increase fuel price. Just like they said that they had some adulterated fuel that was brought into the country. I believe that one because right now I am in Benin City, I bought fuel this morning at N153. I am sure it is just that they want to increase fuel.”

Omarogbon said it is the normal supply constraint and the normal Nigerian way of taking advantage of every situation.

He said:

“In any government policy, you have to measure the pulse of the country, especially the one that has to do directly with the people. You know the rising inflation in the country right now. I think it (subsidy removal) was a bad policy move at a time like this,

Omarogbon said subsidy removal in itself is not a bad policy but that timing is very critical. He said had the subsidy been removed, inflation would have hit 30 to 40 per cent.

The Nigeria National Petroleum Corporation said on Wednesday, February 16, 2022, that it has imported about one billion litres of fuel into the country and over two billion more is being expected by month-end.

MRS fingers NNPC over fuel Scarcity

Legit.ng has reported that the management of MRS Oil Nigeria Plc has cleared the air on how the Nigeria Petroleum Corporation brought bad fuel into the country which is causing scarcity and an increase in the cost of transportation.

MRS also dissociated itself from reports making the rounds on social media that it is responsible for the contaminated product in Nigeria and the company is a responsible corporate citizen who will not go out of its way to harm other citizens.

According to MRS, the NNPC is the sole importer of PMS into Nigeria and the NNPC, through their trading arm, Duke Oil, supplied a cargo of PMS bought from an International trader. Litsaco and delivered it with Motor Tanker (MT) Nord Gainer.

Source: Legit.ng

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