Demagogues in Power: Is Nigeria now feudal enclave of privileged few?
We have three refineries in Nigeria today with combined/cumulative name plate refinery capacity of over 400,000 barrels of crude oil per day that are lying obsolete and comatose.
Between May 29, 2015 to October 20120, the NNPC and the FGN squandered over $389million/N155 billion by way of Fruitless Turn Around Maintenance Programme on these refineries.
Between May 29, 2019 to October 2020, these guys in Abuja milked over N600billion from our national treasury as reported losses on these obsolete refineries.
Yet, these guys are not yet done with this country. They have stubbornly refused to scrap or privatise these refineries, so that deep pocketed and technically capable private sector players can move in and co-locate new refineries using the contiguous and retrieveable facilities at their sites .
South Africa that do not produce anything tangible by way crude oil extraction has mega refineries built by the IOCs there , with combined 540,000 barrels a day refinery capacity.
Why are the IOCs not building refineries in Nigeria is a posser left for us to answer ?
Why are they waiting for Dangote refinery to be ready before any massive reforms are executed in the oil and gas industry ?
Is Nigeria now the feudal enclave of a privileged few?
Why are they still holding unto these obsolete refineries and continually reporting losses on them ? Losses of over N600billion. Monies that should have naturally gone into the federation account for the benefit of iber 180million Nigerians .
Why the governors, the members of the national assembly and the organized civil society are not deeply infuriated by the ongoing ponzi games in our oil and gas industry is something no sane and rational mind can explain.
Now, they want to import from Niger Republic .
Why are we like this? How did we find ourselves overwhelmed and overshadowed by this band of conscienceless and rapacious hyenas ?
What sins did we commit to inherit this band of marauders in power in Abuja and 36 states of the Federation?
God Please have mercy on us. This jungle stinks.
Dr Nnaemeka Onyeka OBIARAERI
