Solutions to Fuel Scarcity in Nigeria

Filed in Directory by on January 18, 2021 0 Comments

Solutions to Fuel Scarcity in Nigeria will be discussed in this article. This is to proffer lasting solutions to the fuel scarcity problem in the Country.

Hardly do Nigerians experience a festive season especially Christmas without experiencing fuel scarcity. These periods are mostly ushered in with a long queue of vehicles waiting to be served at the fueling stations.

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Solutions to Fuel Scarcity in Nigeria

Solutions to Fuel Scarcity in Nigeria – Photo Source: https://www.premiumtimesng.com

When pump attendants and petrol dealers notice it, they increase the price of fuel in their stations, taking advantage of the epileptic situation of fuel supply in the country to make a profit.

Fuel scarcity can be tackled and solved when the government and stakeholders in the petroleum industry contribute their quota to ensure that fuel is available at a time in the country.

Having understudied the challenge and inconvenience created by the shortage of the commodity in the country, there are some things that the country should do to create a lasting solution.

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Solutions to Fuel Scarcity in Nigeria

Here are Solutions to Fuel Scarcity in Nigeria:

1. Petroleum Sector Should Be Privatized

A leader in Nigeria once said over a radio interview that Government has no business running a business, all the government has to do is to create an enabling environment for businesses to thrive.

The government has been in charge of the petroleum industry for a couple of years now and the citizens have seen no effect as petrol, gotten from the country is still exported out for refining and later bought back at a had higher price.

When the petroleum sector is privatized, the country stands a better chance of having the refineries function properly thereby reducing the cost of having to import the same natural resources gotten from the country.

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Just imagine the numerous taxes that would have been paid to the Central bank of Nigeria if it were the only financial institution in the country.  But their role is now strictly overseeing the affairs of other banks in the country.

Truth is, if the petroleum industry is privatized, the competition will grow.  Though it may be expensive at a point, (that is why NNPC should be there to regulate pump price) the product will always be available anytime in the country.  Where competition thrives, development is sponsored and prices are brought to the minimum rate.

2. Nigeria Should Refine Her Oil

It is a terrible fact to admit that as large as the country is, with the number of a refinery in the country, we still have to import a product gotten from our land to a foreign land for refining. It’s quite absurd.

The government should suspend some unnecessary projects that they handle and restore the work-ability of the refineries. It will both save and serve the country at the same time.

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It’s time we actually ‘produce all that we consume. As far as crude oil is concerned, building and repairing our refineries is a step in the right direction.

As long as the country keeps selling crude oil and buying it back as a refined product, Nigeria will continuously suffer the setback of fuel scarcity.

3. Marketers Should Always Open Their Fueling Stations 

The marketers are not left out of it. Some of the challenges faced in Nigeria are fuel marketers locking up their stations and waiting for a hike in pump price before they start selling it so that they can make huge profits.

This is rather inhumane as it affects everyone. Marketers should not make profits at the detriment of the comforts of the people of the nation.

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NNPC should do regulate marketers and ensure that they sell the products when it is available without waiting for a day of making double profits.

In conclusion, one of the major causes of this fuel scarcity is corruption; on the side of the government, marketers, and every other stakeholder in the sector.

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