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Opinion

SHAME! RE: NIGERIA SIGN PACT WITH NIGER REPUBLIC OVER FUEL IMPORTS

OPINION

By Layi Deinde

Shame!

Shame!!

Shame!!!

Shame number 1:

1965

Nigeria’s first oil refinery, at Alesa Eleme near Port Harcourt, began operations in late 1965 with a capacity of 38,000 barrels per day, enough to meet domestic requirements at the time. Please note 38,000 BPD!

Shame 2:

Money spent to import fuel in five years can build 14 refineries of 100,000bpd – investigations. The Nigerian National Petroleum Corporations (NNPC) spent about $42 billion. Please note that it takes about two years to build such refinery.

Shame 3:

The Nigerian refineries have a combined installed capacity of 445,000 bpd. A comprehensive network of pipelines and depots strategically located throughout Nigeria links these refineries.

Shame 4:

Niger republic commenced refining petroleum products in 2011 in a 20,000 barrels refinery.

Nigeria, giant of Africa now wants to import fuel from Niger republic?

Shame 5:

Nigeria Oil refineries moribund after FG expended about $25bn for past 25 years on Turn Around Maintenance!

Shame 6:

Although Nigeria is a leading producer of crude oil and gas, the country has remained the only oil producer that relies completely on the importation of refined petroleum products to meet local need.

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Shame 7:

The Federal Government has disclosed that about 43 refineries, including large scale and modular refineries have been licensed to refine petroleum products across the country.

With all the move, we now chase 20,000 BPD refinery !?

Oh!

Shame 8:

Since 1965 starting with 38,000 BPD with only one refinery to having four refineries with a combined capacity of 445,000 BPD.

Those who mismanage the plants get regular promotion while the facility they superintend degenerate. A travesty of sort.

Shame 9:

Earnings accruals to Nigeria from crude oil has mostly been lost to #POOR_LEADERSHIP  it is painful there seems a tough chance this will end soon, going by unfolding events.

Also, looking critically at the colossal wastes: needless importation, ineffective turn around maintenance, we ought not to be cracking our brain on the reason for a weak currency and comatose economy.

Shame 10:

My beloved president Muhammadu Buhari happens to be the Minister of Petroleum at the moment. A position he has held since 2015.

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A period good enough to transform the troubled sector.

*Layi Deinde, a public commentator and critic, writes from Sango-Ota, Ogun State.

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