Nigerian Times

Major Oil Marketers Association of Nigeria (MOMAN) Eleganza Biro Plaza (5TH Floor), Plot 634, Adeyemo Alakija Street, Victoria Island, Lagos. The Oil Cartel, the Cabal and the Rest of Us in Nigeria Dear Major Oil Marketers Association of Nigeria, I read your public information advert on SUBSIDY FACTS with a pinch of salt, because the information you provided is nothing new. The important issue you mentioned was the emergence of “briefcase” mafia of companies without any asset base and accountability in the Petroleum Support Fund (PSF) scheme. As you rightly noted the total cost of PMS imported into Nigeria as at December 6, 2011, was N141.38 Kobo. The regulated pump price is N65 and the subsidy claim was N76. 38 Kobo. Ignorance has done more harm to Nigerians than corruption. The anger of majority of Nigerians was provoked against the government when the Petroleum Products Pricing Regulatory Agency (PPPRA) announced the removal of the fuel subsidy on petrol on New Year’s Day January 1,...

President Goodluck Jonathan plunged himself into a quagmire between the devil called "Boko Haram" and the deep blue sea of angry masses protesting the unpopular removal of the fuel subsidy on petrol since New Year's day to date. Mr. President, Public Offers and Sensitization about Oil Deregulation Came too late ~ By John Egbeazien Oshodi, Ph.D No one doubts that there could be a long-term benefits for all Nigerians from the massive oil price deregulation but the ill-timed manner by which executive decision was made showed poor management style. This leadership blunder has not only resulted in a state of economic and social confusion but it has equally received tensed response to split-minded way with which the government reached its decision. The ineffectiveness behind the fuel subsidy removal order remains clear as evidenced in the people’s painful reactions. Certainly, in an economy like Nigeria which is marked by severe economic gap and class division among the people,...

Why Nigerians Must Protest and Reject the Illegal Removal of Fuel Subsidy The sudden announcement of the removal of fuel subsidy on New Year’s Day shocked Nigerians who were still on holidays and they were outraged by the overnight change in the pump price of petrol by owners of filling stations across Nigeria without any authorized benchmark price by the Petroleum Products Pricing Regulatory Agency (PPPRA). It is brazenly corrupt and outrageously fraudulent for the filling stations to start selling fuel at exorbitant pump prices immediately the government announced the removal of fuel subsidy on January 1, 2012, without any notification to the citizens who are the primary consumers. The fuel being sold between N137 and N200 per litre was imported under the fuel subsidy regime; therefore it is daylight robbery of consumers by the corrupt and fraudulent government, oil marketers and their distributors with thousands of filling stations all over Nigeria. Millions of litres of fuel imp...