Teaching Comparative Government and Politics

Monday, May 04, 2009

Nigeria short of fuel

One of the world's largest producers of crude oil is suffering another fuel shortage. How do politicians explain that to people who need kerosene to cook with or gasoline to run generators and cars? This story is from The Daily Trust.

Fuel Scarcity to Persist

"Nigerians should brace up for the challenges ahead as there is no end in sight to the fuel scarcity in the country, the Independent Petroleum Marketers Association of Nigeria (IPMAN) declared yesterday.

"IPMAN's spokesman Malam Danladi Fasali said marketers are exhausting their reserves and have since stopped importation due to the refusal of the Nigeria National Petroleum Corporation(NNPC) to pay N210 billion to the Petroleum Equalisation Fund (PEF) as Petroleum Price Support Fund. This is the money used to subsidise importers of refined fuel products...

"Another factor responsible for the current fuel shortage, he said, is the deregulation of the sector while the government at the same time has pegged the petrol price at N65 a litre. He said this contravenes the principle of deregulation..."

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