There Is No Fuel Scarcity Cartel in Nigeria

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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 scarcity is the result of the actions and reactions of a ‘cabal’ of government officials and their clients in the private sector; such corporate clients are erroneously perceived as cartel members. Continue reading

Fuel Scarcity and Other Curses

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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 “Political Treachery In High Places”.  The way Nigerian politicians betray each other and the political parties they made their fortunes from perpetually beggars belief. These two curses become rolled into one when considering the fuel scarcity crisis and power supply failures punishing Nigeria at the moment. Egnahc is not helping! Continue reading

Fuel Hoarding and Governance Failure

Fuel Scarcity

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. Continue reading

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