‘Nigeria only OPEC member that imports 95% of refined petroleum for domestic use’

Read Time: 4 minutes

Nigeria is the only member country of the Organization of Petroleum Exporting Countries (OPEC) that imports 90 to 95 per cent of refined petroleum products to meet its domestic consumption, the People’s Alternative Political Movement (TPAP-M) has observed.

TPAP-M while addressing journalists during the weekend, said most other OPEC member countries depend on less than 20% imported refined petroleum products to meet domestic needs.

Comrade Jaye Gaskiya from the TPAP-M Secretariat, while addressing journalists, said subsidy exists because of the price differential between the landing cost of imported fuel and the pump price of fuel. He said the differential exists because Nigeria is totally dependent as a country on imported refined petroleum products.

He said the reason given by the government and previous administrations is the narrative around the price of fuel being much cheaper in Nigeria than in neighbouring countries, due to subsidy, and that this encourages fuel smuggling across the borders.

“Nigeria is the only OPEC member country that imports more than 90 to 95%of refined petroleum products to meet its domestic consumption. For other OPEC member countries, the reverse is the case – virtually every other OPEC member country meets their domestic needs for refined petroleum products through domestic refining.

“Consequently most other OPEC member countries depend on less than 20% imported refined petroleum products to meet domestic needs.

Gaskiya said this government even suggests that the scale of smuggling has increased so much that it now hovers around 50 million litres per day.

He said in January 2012, the GEJ administration unconscionably hiked fuel prices in the name of removing fuel subsidy which led to the uprising, also known as Occupy Nigeria, where for more than two weeks, there were mass protests across more than 55 cities and a mass general workers strike that lasted a week and paralyzed the economy.

“Recall that the exact same reasons pushed ten years ago by the Jonathan administration, are still being pushed by the current Buhari administration as justifications for the fuel price hike.

“Is it that in ten solid years, nothing has changed? And that despite removing the so-called subsidy in 2012, and in 2016, there is still a subsidy to be removed in 2022.

“For as long as we continue to be totally dependent as a country on imported refined petroleum products to meet domestic needs; for as long as our moribund refineries continue to be comatose, and we continue to lack any significant domestic refining capacity; for so long shall we continue to be faced with the problem of hiking fuel price in order to be able to cover landing cost of imported fuel, which is itself also negatively impacted by the deterioration in the value of the Naira against the Dollar”, he noted.

The Comrade said in the ten years since the January Uprising (Occupy Nigeria) of 2012, the four public refineries have remained moribund, while no new public refineries have been built; And this is in spite of the fact that more than $9.5bn have been spent on the Turn Around Maintenance (TAM) of these moribund refineries since then.

“In addition to the over $9.5bn wasted over TAMs since 2012, over the last six years (since 2015), additional $6bn ($2.7bn in Dangote refinery, and more than $3bn in so-called Greenwich refineries program) have been invested in private sector refinery projects by the Federal Government, using public resources, and with nothing to show for it.

“Only recently, a further $1.5bn was appropriated by NASS for the repair of the PH refinery complex; and again with nothing to show for it.

“Yet despite all of these investments totaling approximately $17bn in the refinery sector since 2012, we still as a nation cannot boast of any domestic refining capacity, we still do not have any functional domestic refinery – public or private, and we are still more than 95% dependent on imported refined petroleum products to meet domestic needs”.

The group expressed worry that despite all these failures, no one has been held accountable for this monumental theft of public wealth and sabotage of the economy – either managerially or politically.

In its demand, the group said it rejects in its totality the hike in the price of Gas, and the impending hikes in the price of fuel and electricity tariff.

“We insist that Nigerians cannot and must not be punished for the failures and incompetence of the ruling class and this regime in ensuring access to affordable energy and adequate security and protection.

“We demand that past and present management of the NNPC and the four moribund refineries should be indicted, prosecuted and brought to book for the crass incompetence that has resulted into the failure since 2012, at least, to turn around the fortunes of the refineries and make them work at optimum capacity, thus contributing significantly to Nigeria’s inability to acquire adequate domestic refining capacity.

“We demand that all political office holders who have had responsibility for over-sighting – in executive or legislative capacity, the petroleum sector should be investigated, indicted, and prosecuted,” Comrade Gaskiya said.


FALSE! Yoruba Not An Official Language In Brazil

Claim: A national newspaper and multiple online platforms claim Brazil has adopted Yoruba as its official language and that the language would be included in primary and secondary schools curriculum.

Verdict: The claim is false. The content of the article published by these online platforms is not new; it has been recirculated several times and has been debunked.

Viral Voice Note On WhatsApp Billing False

Claim: A viral WhatsApp voice note, purportedly made by the director and CEO of WhatsApp, claims users will have to start paying for WhatsApp services.

Verdict: The viral WhatsApp voice note claim is a hoax. The content is not new and has been circulated as a broadcast message several times in the past.

Marburg Virus: What You Need To Know About Disease Recently Detected In West Africa

On Monday, August 9, 2021, the World Health Organisation (WHO) confirmed the first case of Marburg virus in West Africa in Guinea. This development has sent shivers down the spines of West Africans who are still grappling with the effects of the coronavirus pandemic. But before this dreaded disease is greeted by rumours and misinformation, here is what you have to know about the virus.

FACT CHECK: US Did Not Give Nigeria 48 Hours Ultimatum To Detain Abba Kyari

CLAIM: Several social media posts claim the United States of America (USA) gave Nigeria’s Federal Government 48 hours to detain suspended Deputy Police Commissioner, Abba Kyari, or face severe sanctions.

VERDICT: The claim is false and misleading. The US did not give Nigerian Federal Government 48 hours ultimatum to detain Abba Kyari.

26 thoughts on “‘Nigeria only OPEC member that imports 95% of refined petroleum for domestic use’

  1. Hiya, I’m really glad I have found this information. Today bloggers publish just about gossips and net and this is actually frustrating. A good web site with exciting content, that is what I need. Thank you for keeping this web-site, I’ll be visiting it. Do you do newsletters? Can’t find it.

  2. Hey there I am so glad I found your weblog, I really found you by mistake, while I was searching on Digg for something else, Nonetheless I am here now and would just like to say many thanks for a fantastic post and a all round entertaining blog (I also love the theme/design), I don’t have time to look over it all at the moment but I have saved it and also added your RSS feeds, so when I have time I will be back to read a great deal more, Please do keep up the superb work.

  3. I have been browsing online more than three hours lately, but I by no means discovered any interesting article like yours. It is beautiful price sufficient for me. Personally, if all web owners and bloggers made excellent content as you probably did, the internet can be much more useful than ever before.

  4. Hi! I know this is kind of off topic but I was wondering which blog platform are you using for this site? I’m getting sick and tired of WordPress because I’ve had problems with hackers and I’m looking at alternatives for another platform. I would be awesome if you could point me in the direction of a good platform.

  5. Can I just say what a reduction to find someone who actually knows what theyre speaking about on the internet. You definitely know easy methods to bring an issue to gentle and make it important. More folks must learn this and understand this side of the story. I cant believe youre not more in style since you definitely have the gift.

  6. Hello, i think that i saw you visited my blog thus i got here to “go back the desire”.I’m attempting to to find things to enhance my web site!I guess its adequate to use some of your ideas!!

  7. Thank you for the auspicious writeup. It in fact was a amusement account it. Look advanced to far added agreeable from you! By the way, how can we communicate?

  8. You really make it seem so easy with your presentation but I find this topic to be really something which I think I would never understand. It seems too complicated and extremely broad for me. I am looking forward for your next post, I’ll try to get the hang of it!

  9. Java Burn: What is it? Java Burn is marketed as a natural weight loss product that can increase the speed and efficiency of a person’s natural metabolism, thereby supporting their weight loss efforts

  10. Java Burn is the world’s first and only 100 safe and proprietary formula designed to boost the speed and efficiency of your metabolism by mixing with the natural ingredients in coffee.

  11. I’ve been browsing online more than 3 hours today, yet I never found any interesting article like yours. It is pretty worth enough for me. In my view, if all website owners and bloggers made good content as you did, the web will be a lot more useful than ever before.

  12. This web site is really a walk-through for all of the info you wanted about this and didn’t know who to ask. Glimpse here, and you’ll definitely discover it.

  13. I love it when people come together and share opinions, great blog, keep it up.

Leave a Reply

Your email address will not be published. Required fields are marked *