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OIL SOLUTION: State Of Emergency In The Refineries


21 July 2023

The Irony of Our Oil Wealth 

Lagos By Brian'C (NigeriaOpinion)

1. Nigeria appears to be the only oil producing nation that is not currently benefiting from the favorable price of crude oil induced by Russian/ Ukraine crisis. 

Saudi Arabia, Brazil and even Russia are currently smiling to the banks, but Nigeria is bitterly complaining. After all, a lazy man quarrels with his tools. 

2. This is the first time in Nigeria's history that citizens are compelled to tighten their  belts amidst wealth. 

We had oil boom in mid 70s, Yom- Kippur War of 1973, and Iranian  Revolution,  90s, the first Gulf War, 20s, soaring demand by China, and currently, Russian/ Ukraine War. 

This would have been best of times in the country given the price of oil hovering around 70 to 80 dollars per barrel. 

3. The nation utilizes more than 60% of its FX on importation of petrol product alone.

4. It has been proven that, the removal of petroleum subsidy fuels local inflation, which leads to the depreciation of Naira against Dollar. Thus,

5. The more the importation of oil at a higher Dollar rate, the more the local inflation, and the more the push will be for  upward review of the local pump price of petrol to reflect the ever changing market price dynamics at the international level. 

This is an endless cycle of self inflicted woes facing Nigeria today. And it has come to stay with us with attendant poverty at an all time level. 

6. Agreed, the local pump price of petrol will fall, if the price of crude oil in international market falls.

7. But, that will be a worst case scenario in Nigeria, as our  economy will be worse hit by it, and government certainly will be out funds to even pay salaries and finance other basics that drive the economy. 

Oil is the mainstay of Nigeria economy, the very life line that sustains Nigeria aleast for now.

8. Subsidy removal simply redistributes petrol tax burden against the poor masses, leaving the unbridled corruption that characterized the massive importation of oil unchecked. They deceived us that, the removal will benefit the poor against the rich, but we now know better. 

According to Comr. Isaac while having an interview with Newsmen, Mr. Samuel Johnson he unveiling the deep secret to Nigeria problem and also point out the solution that will help the growth of the country...


Nigerians Don't Need Palliative, Nor Increased in Salaries, BUT A POLITICAL WILL BY THE GOVERNMENT OF THE DAY.

1. Declare a state of emergency in the refineries. Set a definitive timeline for the total overhaul and operational of our refineries. 

The focus should be Refinery! Refinery!! Refinery!!! 

Even it means the president temporarily relocating the seat of government to were these refineries are sited. 

2. Enact a new law that carries life  imprisonment, or even  death penalty for saboteurs of our oil industry, including crude oil theft. 

3. Increase the refining capacities of the revamped refineries to serve our neighbouring countries at a profit to eliminate cross- border smuggling.

4. Oil bearing States or any state of the federation should prioritize syndication of resources to build and own refineries in the country.