Author: Obinna Osuagwu

In Nigeria, where the cost of living continues to rise and economic pressures weigh heavily on citizens, every naira counts. Unfortunately, this reality has also given rise to unethical practices in various sectors, including the downstream petroleum industry. One of the most common grievances among Nigerian motorists is the experience of being cheated by filling station attendants. Whether it’s through tampered fuel pumps, short-selling, or outright refusal to issue receipts, these practices not only exploit consumers but also erode trust in the system. Motorists who fall victim to fraudulent schemes at filling stations often experience significant frustration. However, with the…

Nigeria, one of Africa’s largest economy and a major oil producer, faces a paradoxical crisis. While the country is rich in crude oil, it has long depended on imported refined petroleum, a vulnerability that became glaringly evident after the fuel subsidy removal in 2023. This decision, which led to a 200% increase in petrol prices, has triggered widespread economic disruptions, pushing households and businesses toward alternative energy sources. The sudden surge in fuel costs transportation expenses rising by 120% and energy-dependent businesses seeing costs eat up to 70% of their profits has made it clear that reliance on traditional energy…

Fuel adulteration, the deliberate contamination of petroleum products with substandard or hazardous substances, remains a critical issue in Nigeria, undermining economic stability, public health, and environmental integrity. This analysis dissects the root causes, systemic failures, and far-reaching consequences of this illicit practice while proposing actionable solutions. Root Causes: Economic Incentives and Systemic Gaps Fuel adulteration in Nigeria is deeply rooted in economic incentives and systemic inefficiencies that plague the country’s fuel supply chain. At the core of this issue is the pursuit of profit. Black-market vendors exploit the price disparities between premium motor spirit (PMS) and cheaper alternatives like kerosene,…

Consumers deserve transparency when purchasing gas, yet discrepancies in price, volume, and quality often lead to shortages or even fraudulent practices. Understanding how to spot these issues can help protect your wallet and ensure you’re getting a fair deal. Below are proven strategies for detecting gas shortages, both at the pump and during cylinder refills. 1. Monitor the Price-to-Volume Ratio Every gas supplier sets a price per unit volume, and knowing the standard market rate in your area is key to identifying discrepancies. Track fair pricing by keeping a log of the price per liter or kilogram each time you…

Consumers deserve transparency when purchasing gas, but discrepancies in price, volume, and quality can lead to shortages or even fraudulent practices. By understanding how to spot these issues, you can protect your wallet and ensure you’re getting a fair deal. Below are proven strategies to detect gas shortages, both at the pump and during cylinder refills. 1. Monitor the Price-to-Volume Ratio Understand Pricing Metrics Every gas supplier sets a price per unit volume, and knowing the standard market rate in your area is crucial for identifying discrepancies. Here’s how you can track fair pricing: 2. Verify Volume Accuracy During Refills…

Nigeria has set an ambitious target of achieving 2.7 million barrels per day (bpd) in oil production by 2027, marking a key step in its efforts to revitalize the oil sector and stabilize the economy. The Ministry of Petroleum Resources has laid out this goal as part of a broader strategy to enhance the country’s oil output, which has been impacted by years of underinvestment, aging infrastructure, and security challenges. The plan comes at a critical juncture, as the Nigerian oil industry grapples with declining production, which has slumped below 1.2 million barrels per day in recent months, far below…

The removal of Nigeria’s fuel subsidy in May 2023 has had significant economic repercussions, particularly on household budgets. Fuel prices have surged, leading to increased transportation and living costs. In response, the government has implemented measures to alleviate the economic strain on citizens.Immediate Impact on Household BudgetsPrior to the subsidy removal, fuel prices were regulated to remain affordable. However, post- removal, pump prices have escalated, causing a ripple effect on the cost of goods and services, especially food prices due to higher logistics costs. Many individuals now allocate a largerportion of their income to fuel, reducing their capacity to save…

The Nigerian Navy’s Forward Operating Base (FOB) in Ibaka, Mbo Local Government Area of Akwa Ibom State, has dismantled a syndicate allegedly involved in smuggling petroleum products and other illicit goods to Cameroon and other Gulf of Guinea countries. The Commanding Officer of the Base, Capt. Uche Aneke, revealed this while handing over the suspects, along with the seized items and other goods worth millions of naira, to officials of the Akwa Ibom State Command of the Nigeria Security and Civil Defense Corps (NSCDC). Among those apprehended were three suspected oil thieves found with 2,000 litres of Premium Motor Spirit…

The Defence Headquarters (DHQ) has dismissed allegations from Tantita Security Services Nigeria Limited (TSSNL) that the Nigerian Navy is hindering efforts to combat crude oil theft, labeling them as “cheap blackmail.” The Chairman of TSSNL, Government Ekpemupolo, also known as Tompolo, made these claims during a meeting with the national leadership of the Nigerian Bar Association on Monday. Tompolo said, “While doing this work, we have stepped on a lot of toes of people over there in Lagos and Abuja. We have stepped on a lot of toes. As I am here, after my court cases, I cannot travel anywhere…

Energy security—a nation’s ability to meet its energy demands reliably and sustainably—remains a critical goal for oil-producing countries. However, even the most energy-advanced nations with robust crude refining capacities import refined petroleum products for various strategic reasons. Nigeria, as a key member of OPEC, is not an exception. Yet, the dynamics of its fuel importation reveal challenges unique to its economic and governance framework, particularly profiteering and smuggling. This essay explores global and regional examples of fuel importation, emphasizing the lessons Nigeria can learn to achieve genuine energy security. Why Do Energy-Advanced Nations Import Fuel? Even countries with significant refining…