Nigeria’s Fuel Crisis The Controversy Over Crude Sold Abroad

Nigeria’s Fuel Crisis The Controversy Over Crude Sold Abroad
From Oil Producer to Fuel Buyer: The Paradox of Nigeria’s Energy Sector

…Questions Trail Nigeria’s Crude Oil Sales and Local Refining Failure

Hike in fuel price.

Nigeria was selling 60% of her crude oil into the international market and decided to retain 40% for local refineries. But the local refineries stopped working and instead of repairing them, NNPC allowed them to d!e off.

Then NNPC decided to sell out the 40% leaving Nigeria with nothing to service any local refinery.

When Dangote established his private refinery, he requested that NNPC should be selling crude oil to him from the 40%. It was there everything became exposed that NNPC has sold the 40% to foreign companies for over 100yrs in advance.

Then Dangote has no choice than to go out to buy crude oil in dollars from the foreign companies that bought from Nigeria. So, Nigeria will sell crude oil out and Dangote will go out and buy it back. Very ridiculous.

If we had retained our 40% and selling it to Dangote, this scarcity caused by Iran and Israel war would not have affected us. Today now, a litre of fuel is almost N1,000.00 per liter.

What a country. We need someone who is detached from this evil to rule Nigeria and who can probe into all these corrupt practices and send all that are culpable to prison. That’s when Nigeria can get it right.