Let me introduce Nigeria
At maximum capacity, Nigeria can produce 2.5million barrels of crudeoil per day.
Today, we produce 1.7million barrels per day but that is not the problem.
Fuel costs 200 naira per liter($0.5) today and is scarce.
Before, they said it was because of the niger-delta millitants or freedom fighters
Right now we know they are not the cause.
Later on, they told us that they have to revamp the refineries. Huge amounts of money are delegated for this every year
So except the money didnt get to the refineries,which is gross misconduct on their part. The refineries should be okay.
But still that was clearly not the problem.
About three years ago, the present government
accused the previous government
of looting money. Presently they are in power and now it is the same or probably WORSE..
I am talking of people leaving their cars at the filling station over night...
Chaos is everywhere
I HAVE TWO QUESTIONS..
If there is no fuel at the depot, how do black marketers get the product
WHAT IS REALLY THE PROBLEM???
Cheers to a new year and another chance for us to get it right.