29/09/2025
๐๐ก๐ ๐๐ฎ๐ข๐๐ญ ๐๐ญ ๐ญ๐ก๐ ๐๐ฎ๐ฆ๐ฉ๐ฌ ๐๐ง๐ ๐ญ๐ก๐ ๐๐ซ๐ข๐๐ ๐จ๐ ๐ ๐๐ ๐
๐๐๐ญ๐จ ๐๐จ๐ง๐จ๐ฉ๐จ๐ฅ๐ฒ
By Temple Chinalu Barrah
The filling stations around where I live have petrol; yet attendants sit idle. There are no queues and no rush, only silence. This silence tells a bigger story. Nigerians no longer fear scarcity alone. We fear uncertainty.
This was deepened last week when Dangote Industries announced it would suspend sales of petrol in naira. The reason is that its crude-for-naira allocation had run out. Government quickly intervened and the refinery reversed the decision. However, in those few hours the country panicked when Marketers warned prices would rise.
At the same time, PENGASSAN, the oil workersโ union, ordered members to cut off crude and gas supplies to the refinery; following the dismissal of hundreds of workers and claims that staff were being replaced by foreigners; plunging Dangote into troubled waters.
However, there is the danger of Nigeriaโs current path. We have placed too much power in the hands of one refinery. With 650,000 barrels per day capacity, Dangote Refinery dominates the market.
My fear is when one company can decide how petrol is sold and at what price, the entire country becomes hostage to a de facto monopoly.
In a healthy market, a problem in one refinery is absorbed by others. In this case, a single boardroom decision about pricing, exports or staffing has a ripple effect. It creates panic at the pumps even when fuel is available.
The consequences are real. A union shutdown of crude supply can stop operations overnight. A change in currency policy can send prices soaring. A mass dismissal of workers can trigger unrest. Ordinary Nigerians, not the boardroom or the ministry, pay the price in higher transport fares and food costs.
The naira-for-crude deal was sold as a permanent solution to stabilise fuel prices but can run out at any moment. Its suspension or reversal shows how fragile our frameworks are. This uncertainty destroys trust in both government and industry.
What must change? First, Nigeria must diversify. One refinery cannot carry a nation of 200 million people. Others must be encouraged to enter the market.
Second, the naira-for-crude policy must be clear, transparent and enforceable. Rules must protect both the refineryโs balance sheet and the consumerโs pocket.
Third, labour disputes must never threaten national supply. Workersโ rights must be respected, however I'm at loss if unionism is mandatory in privately owned companies as suggested by NUPENG.
Finally, Nigerians deserve consistent communication. Uncertainty is the real crisis. Clear rules and honest engagement will rebuild trust.
The quietness at some pumps; is not about fuel availability. It is about the fear of tomorrow!
Nigeria can and must fix this; with stronger policy, more competition and genuine trust, we can secure continuous supply of petroleum products.
And yes, with the right choices, โฆ500 per litre is possible.
