NIGERIA: Fuel Scarcity Conundrum: Mistakes of The Past Years

1. Saudi Arabia with a population of 26m has 16 functional refineries, to commission another two (2) of 400,000 barrel each per day capacity in 2016

 2. The U.S State of California alone has 26, Texas has 19 refineries

 3. Whereas Singapore with a population of 5.6million people has 3 refineries with combine refining capacity 1.3m bp/d;

 4. Nigeria has three (3) or four (4) (non functional refineries) built in the 70s & early 80s...now obsolete...16 years of oil boom we didn't add even ONE.

5. We did not invest in our downstream sector, but handed out importation licenses to cronies & acolytes. Today we are paying the price

 6. We are paying the price of our past profligacy, irresponsibility in governance and blind leadership.

8. For instance, Egbin power plant was valued at $1.2 billion. A German electricity company bided but ex-President GEJ sold it to Sahara Energy at $470m.

9. Sahara had no previous records on power plant aside importation of petrol but we handed them our LARGEST thermal plant..

 10. Easier to cry today but whatever problems we see today was created yesterday with the active connivance of all of us...

 11. Active connivance in the sense that we all kept quiet & looked away... Our day just dey break?

 12. I am not exonerating the FG of blame, but laying the facts as they are... While you have the right to be angry, pls be angry with sense.

 13. Change will come but it will not come overnight... A lot of mess was made either out of omission or commission, change will certainly be substantial but subject to procedures.
CHANGE is on the way!




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