President Bola Tinubu stopped fuel subsidy on May 29, 2023. Is he bringing it back through the backyard again?
The looser in this game of pricing mechanism is not Dangote Refinery, with its refining capacity of Six Hundred and Fifty Thousand barrel of Crude per day. But the loser is the Nigerian National Petroleum Company Limited [NNPCL] and its Associates – those that the NNPCL licensed to import fuel into the country. Both organisations – NNPCL and the Dangote Refinery are to supply Premium Moror Spirit [PMS], commonly called fuel or Petrol, to Nigerians for their daily usage.
While most Nigerians have the fact that Dangote Refinery brings fuel to the Nigerian people directly from its Plant at Ibeju-Lekki, in Lagos State, the NNPCL does its own otherwise.
It, as a matter of fact, imports its fuel from abroad but tell us that the fuel it supplies to the market is from its refurbished and reconstructed refinery in Port Harcourt. We all are aware that the NNPCL Four Refineries – albeit Port Harcourt [2], Warri [1] and Kaduna [1] are almost as “dead as dodo”. Even if any of the Four is refining as of now, it may not be able to refine up to One Hundred Thousand barrel of Crude per day.
Why will NNPCL boast of full capacity refining when actually, it is importing, and importing massively for that matter? Its aim is to muzzle and frustrate Dangote Refinery.
Then, Dangote Refinery, with the economic advantage of mass production, in view of the size of its Plant – almost the largest in the whole world, embarked on price reduction for the finished product – PMS.
Then the “price war” started, as the demonic NNPCL also cut price. Meanwhile, the NNPCL, through its licensed importers went mad – typically mad, so to say, by amassing monies from all over, and imported fuel massively, between November 2024 and January, 2025, as if the world was coming to an end.
Then, Dangote Refinery cut price again. And NNPCL also cut too.
It is for this “game of death” that the loosing NNPCL and its ally – those licensed to import fuel to Nigeria, in an unthinkable demonic conspiracy, in collaboration with the Federal Government, in reintroduction of fuel subsidy. What you are hearing by this notification is the fact of the return of Fuel Subsidy Regime in Nigeria.
By this reintroduction, Nigeria (through the Federal Government) is paying N7.74tn as subsidy. And this resuscitated subsidy, per the balance sheet of NNPCL books, shown to the Public last two weeks, was the calculation that ended September 2024. Further calculations on payment of unending fuel subsidy, from October 2024 till date, is on its way.
What and where are the facts of this war of price reduction on fuel?
Anyone that wants to have factual details of the seemingly criminal activities of the Federal Government’s Octopus-like NNPCL against Nigeria and Nigerians should visit The Guru’s website – www.godwintheguru.org
Until you visit and log to this website for downloading, you shall be far away from having the facts about those “killing” Nigeria.
You can also join The Guru at Lagos Talks 91.3 FM tomorrow morning, as from 0930 hours to have total revelation of the greatest conspiracy, of reinventing Fuel Subsidy Regime, orchestrated against Nigerians by the NNPCL and the Federal Government.
The choice of knowing is now in your court!
Godwin Etakibuebu; a Veteran Journalist, wrote from Lagos.
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