A major dealer in petroleum products in Nnewi, Anambra State, Chief Onyekachukwu Innocent Okoli popularly known as Organizer Oil and Gas has attributed the high cost of petroleum products to continued importation of the products and inability of the federal government to resuscitate moribund refineries in Nigeria.
Chief Okoli is the patron of Independent Oil Marketers in the entire South East who has been in oil business for decades.
He said that it had not been easy for oil marketers to source their products and that consumers should not think that marketers were responsible for the high cost of the products since the price they bought the products determined the price they sold them.
“It is not easy for us to source the petroleum products. Our prayer is that government should know what to do about it. It needs urgent attention. They should stop importation of fuel to this country. The high cost is determined by the market forces of demand and supply.
“We have three moribund refineries in Nigeria and government should resuscitate them. They should be functional. We are pleading.
“If the prices of petroleum products come down, it is even in the advantage and best interest of the marketers because we will make more sales and prices of other things will also come down.
“Government should please intervene. Additionally, improving the efficiency of the distribution network and cracking down on corruption and smuggling within the sector are crucial steps that can be taken quickly, “he said.
An Nnewi resident who gave her name as Mama Ajima, a civil servant, said that government should be answerable to the plight of Nigerians over the fuel crisis. She questioned the rationale behind the removal of oil subsidy in the first instance without cushioning effects which she described as lack of foresight in policy making.
“The daily spending of an average Nigerian has increased astronomically due to the sky rocketed increases in the prices of foodstuff occasioned by the fuel crisis. High cost of transportation has caused lateness to offices which has been increased as a result of lack of commuter buses and taxis to take people to their various places of work.
“Nigerian government has adopted several measures to reduce the impact of fuel scarcity, including policies to make the currency stable and streamline the supply chain for petroleum products.
“Despite that, public reaction remains negative to a great extent. Many citizens accuse government of insensitivity to the sufferings of the masses.
“There have been protests in various parts of the country, calling for policy reversals and better management of the country’s resources, to no avail. We have lost confidence in government, “she said.
