BACK PAGE: Frittering Away The Last Breath
Frittering Away The Last Breath
In the past so many weeks, there has been fuel scarcity and much has been said about increasing fuel price or re-introducing fuel subsidy as remedy.
Somehow, we fail to look beyond the queues that start at the end of November and trail till February, nearly every year. Is it not coincidental that these queues occur when there is an increase in energy consumption in the Western world?
In a barrel, there are about 159 litres. Now, if crude is selling for about $61.73 per barrel, it translates to N21, 605.5 at an exchange rate of N350 to the dollar that the man on the street has accepted as the dollar rate. Presently, petrol is selling for N145 per litre.
This means that every time a Nigerian buys 159 litres or the equivalent of a barrel, he is actually paying N23, 055.00 or $65.87 per barrel for petrol only. That means each Nigerian petrol consumer losses $4.14 or N1, 449.00 on the sale done on his behalf by Nigerian National Petroleum Corporation.
Imagine the number of cars on Nigerian roads and the number of times such vehicle owners buy 159 litres and lose money on a common wealth. This does not include the loss on all the other products associated with refining crude that are further gain to the crude buyers, because we are not refining. Meanwhile this colossal loss is continuous.
This automatically means that Nigerians actually subsidise energy consumption of the Western world, especially during the winter months when the cost of energy is very high. On top of this, they then add the landing charges, which again, is money that goes out of Nigeria!
How our leaders will watch this rape, even collude with foreigners and form themselves into cabals to continuously milk Nigerians is still baffling.
Businessmen from the western hemisphere have always taken care of themselves and protected their various countries at the expense of Africans. Now, they have been joined by Asians and yet, forever, the black man, because of his idolization of the white skin, continues to throw away everything that God has given him, be it Agricultural produce or fuel.
Beyond fuelling generators that have been forcefully foisted on us and vehicles, what else do we actually use petrol for? Are we not supposed to sell for profit and benefit the populace with the proceeds?
Unfortunately, those who desperately need the fuel at the time when the chilly winds are biting, employ the same cunning that they applied in introducing mirrors and other nonsensical objects as valuables and continue to use abracadabra to take everything for free. Rather than gain as should be expected, we are held in perpetual economic slavery.
The whole of 2017, Nigerians were hopeful that the Petroleum Industry Bill (PIB) would be passed, but, till date, it has not seen the light of day. Every time government subsidises fuel used by Nigerians in any way, it is obvious that the money is actually subsidizing energy consumption in another country!
No wonder our refineries will never function! No wonder there will be a postponement of the time when private refineries can function in Nigeria. No wonder the Oil sector will never be fully deregulated.
The ominous times are here because Nigeria is at the injury time of the Oil sale game. The very western countries, seeing what the Middle East is doing with their oil money, are working assiduously to put vehicles that will use every other form of energy apart from petrol on roads.
When these vehicles are ready, Nigerians will be forced to buy them since we do not make any, petrol engine or otherwise! We will have to go cap in hand to beg for our remaining oil to be bought.
Meanwhile, we are looking on as our gas is being wasted. Since there is still need for oil now, nothing tangible will happen until the West is ready to tell us what to do.
The patriotism of the Western businessmen is enviable and needs to be commended. How come our own leaders go to the negotiating table ready to give concessions that are equivalent to throwing away the common wealth, especially if there are enough crumbs to cater for stomach infrastructure?
When will our leaders add “for Country” too when negotiating, so that both sides benefit equally? The white man is forever concerned about what will happen to him and the next generation while we are forever searching for maximum enjoyment for ourselves while our next generation can go to blazes.
Going spiritual, the suggestion will be that every black man goes for deliverance from the spirit of greed that makes us kobo wise and Naira foolish.
