Fuel Hoarding and Governance Failure
The GON is getting very tough at the “tail end” of the oil sector by punishing retailers of petroleum fuel for “hoarding” like they have “weak oil bunkerers”. Meanwhile, the executive cabinet of GON is staffed by hoarders of billions of dollars’ (in cash and assets) of “oil wealth”. This is the latest showing of “no-nonsense anticorruption” at its most trifling in Nigeria. Yes, the landlord chasing rats in the living room while his house is fully on fire? This ‘catching the serpent by the tail’ solution is a dangerous staple approach adopted by the current GON. (more…)