While there is a clearly identifiable oil production and exploration (E & P) ‘cartel’ constituted of mostly multinational corporations (with local clients) in the upstream sector of the Nigerian petroleum resources industry, such does not exist in the downstream sector relating to the distribution of fuel products. What causes fuel…
Tag: fuel scarcity
Fuel Scarcity and Other Curses
If it is true that countries can be ‘cursed’, Nigeria’s most prominent curse will be constantly having “Good Leaders Surrounded By Strictly Evil Men”. It does not matter if these Good Leaders turn out to be thieves or incompetents, they remain Good Leaders. Another prominent curse on Nigeria would be…
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…