The Fuel Price Hike in Nigeria: My Opinion

I don’t like to say that I’m always right, but more often than not… I usually am right. But I’ll be honest, that I’m often right, but not always for the right reasons. So hear me out this time.

Premium Motor Spirit (PMS) or petrol, now sells officially in Nigeria at 145 naira per liter. And this has gotten everyone on the uproar. Some folks want to protest, and some are silently fine with it.

Some are condemning the federal government for this decision. But me, I have a different opinion about all this. As a matter of fact, I expected (or should I say, predicted) that this would happen.

Here’s my take on the whole fuel price hike thus far.

I don’t know who first posted this, but I remember when I first saw the joke in the photo below in a WhatsApp group:

Bring Back our Curroption

My first reaction was… WTF people!? But then, it got me thinking: this person (whoever they are) might be up to something.

With Corruption

It’s only in Nigeria where a company with only ONE commodity, and does not sell, but still flourishes. It is magical! They have just one commodity to sell, but they cannot supply this commodity to consumers. Yet, the company continues to exist, and continues to flourish. My brother, how do you explain this magic?

It’s only in Nigeria we have electric companies that do not supply electricity. And banks that do not have money. And petrol stations that do not sell petrol, and so on and so forth.

So after I saw the #BringOurCorruption back joke, I came to realize something. What happens when company owners have another (major) source of income? The result are some of the businesses we see in Nigeria.

Think about it from my perspective. With corruption, it doesn’t matter how much sales are made. It doesn’t matter how the business is running or whether it is even running. All that matters nothing, as long as the company owners can siphon money from other sources.

The man that has an eatery, but loots billions from the government, does not care if his staff come to work or not. He doesn’t care much if his managers are giving out free food to friends and relatives. Abi?

I mean… who cares when the business could just be a front so that when people ask “so how does Mr. so and so make his money?” and the answer can be “so and so eatery na”.

The Fight Against Corruption

President Muhammadu Buhari

With corruption in the picture, they can do things anyhow and prices would remain cheap. But the “bring back our corruption” joke made me think about… what would happen in President Buhari’s fight against corruption?

Without corruption, what happens to these businesses that flourish without doing any actual business? They will now be forced to make real money from doing actual business. The result? Prices will go up because their business, would become their actual source of income. They would be cut off their “other” source of income.

This was what I thought. And from that point on, I expected things to change a little and become a bit more difficult (or expensive).

Petrol Price Hike

Petrol Price Hike

When I heard that the official price for petrol was going to be set at 145 naira per liter, I was in shock! To be honest, it saddened me for a moment or two. But then I thought about the implications, and what this meant for Nigerians.

Before this news, I have bought petrol no less than 150 naira per liter. Nigerians all over the country were buying petrol for an average of 200 to 250 naira per liter. So this is instant good news!

On top of the fact that petrol sold at 200 to 250, people would still have to spend hours in line at petrol stations. They wait in hopes that they might get some petrol to buy. Some even wait for so long, and end up leaving without actually buying any petrol.

I did not understand why petrol would now sell for 145 naira per liter. But my response was simple: as long as people no longer have to queue for it, I am grateful to God.

Benefits of the Fuel Price Hike

I never spent more than a few minutes waiting to buy petrol. I am not one of those people who would queue for petrol because I would rather spend that time elsewhere. And no, it’s not because I have the money. And mind you, my care drinks petrol like a fat kid eats cup cakes… so my car of not fuel economic either.

But I was happy because I always feel sorry when I see people lining up for petrol. One day I parked my car by the roadside to use the bank quickly and return. Unfortunately, I parked closed to a petrol queue near NNPC mega station (Sapele road).

People kept asking me if I was in line for petrol, or if I knew whether they were selling petrol at all! I felt sorry for one woman who asked me! What the hell mehn! The queue was almost a kilometer long, and she had no idea if the station was even selling! Even so, she was willing to get in line and wait… What a life!

At 145 naira per liter, anyone can drive into any station (like I did this morning) to buy petrol, with no queue. This is great news, isn’t it! Nigerians no longer have to wait, hoping to but petrol at a station that may or may not be selling petrol. Or even worse, queue at a station that might start selling petrol in 3 days time.

And let us be honest with ourselves… HOW MANY NIGERIANS HAVE BOUGHT PETROL FOR LESS THAT 150 NAIRA PER LITER, IN THE LAST 3 MONTHS??? So why is 145 per liter now a bad thing? Make una chill jor!

Without Corruption

Earn Honest Money

I believe that without corruption, people would actually have to work to earn a honest living. Those already earning a honest living… kudos, and keep it up. Those who are not… their well will run dry pretty soon.

I am just waiting for Buhari to enter the power sector. I still need to understand the magic business model that PHCN/NEPA operates with. The only commodity they sell is electricity, and yet they do not supply the electricity. Still, the company continues to exist and flourish… HOW??????

What’s your reaction to the recent fuel price hike in Nigeria? I now need about twice as much as before, to fill my tank… How is it affecting you too?

Please share in the comments section below.