₦airaland Forum

The fuel scarcity doesn't bother Buhari.

There is no more subsidy for PMS anymore and the current lingering chronic scarcity we are witnessing is due to the fact that only NNPC through their agents is importing fuel.


This is because the FG has refused to allocate forex to independent marketers and only allowed NNPC import agents (who by the way are handpicked by Buhari among his friends, family members and cronies ) to have access to CBN forex.


The scarcity we are witnessing is no different with what transpired during the Abacha years where virtually every drop of fuel imported by the NNPC was through the Abacha family.


A long as CBN refuses to allocate forex to independent marketers and also the situation where Buhari hand picked import agents for nnpc, there will always be shortfall of PMS and as long as only the hypocrite Buhari is chopping the there will always be fuel queues

Now we see that they have now partially deregulated the retailing of PMS by allowing independent marketers to import fuel and sell without subsidies.

They have also staunchly refused the independent marketers from accessing fire from the CBN.

So in effect, we have the most irresponsible deregulation policy in place since there is no pricing regime put in place. Thus, we now have two pricing regimes; one for the state owned NNPC and the independent marketers.

That means the NNPC ought to maintain their current pump price since the nnpc gets forex at 199 naira per dollar.

Where the nnpc sells at 145 same as with the independent marketers sourcing forex at 345 naira to a dollar, it thus means the nnpc will be making a huge profit margin.

This is another avenue of massive corruption that will soon be taken place under the dunce hypocrite thief buhari.