Development to increase economic growth and improve the quality of life has been a major objective of countries around the globe according to United Nations human Development Index(HDI).In nigeria,there is an increasing conviction that the people in governance are in for selective rewarding systems due to prevailing culture of secrecy in government with cunning business smart politicians.The removal of fuel subsidy is a good omen.
With the amount of money in dollars bills that could have plausibly turned the moribund refineries to function at maximal capacities going into private pockets.Records have indicated and clearly shown that from 1999 to may 2023 about $117 billioon dollars had so far been expended on the TAM(total turnaround maintenance) of refineries in the country by by the management of NNPC now NNPCL without tangible results.
A calculatedly corrupted foundation has been laid by the same group at different levels so checking corruption in the sector had become cumbersome and lively likely difficult to uprooting same in subsequent stages due to the contributions of internal and external collaborators especially the multinationals companies operating in the Niger Delta region.Though the federal government has removed PMS subsidy,the speed lane taken by NNPCL in adjusting pump prices is uncalled for when oil spillages in the region are not accorded quicker remedial actions as seen with pump prices hike.Exchanged traded instruments are usually more transparent,easier to monitor,and more liquid than over the counter instruments,such as swaps and forwards strongly advocated by the few privilege individuals hereinafter referred to as CABAL.The choice of a country's stabilization or saving plans depends on the temporary and permanent factors that influence the random process that determine oil prices,prices fluctuate from time to time because of temporary changes in global economic and political conditions that affect the supply and demand for oil.
Hitherto the critical questions have been raised as to why the efforts being expended "upto 117 billion dollars" in resuscitating the moribund refineries in nigeria refuse to yield results comparable with those seen in other places.When a private refinery recently commissioned by former President in may 2023 is expected to cost about 20 billion dollars with about 650000 barrels per day refining capacity.The root of such grand larceny can only be pulled off with the registration and incorporation of artisanal refiners despite the crude technology and the environment issues there are rooms for improvement,so that niger delta region with crude oil(N650/per litre) can breathe.Key members of PANDEF have relocated from the region to Abuja you know what that means.
I believe that the root of misguided criticism about the artisanal refining lies first and foremost with the pockets of the cabals and in the failure to demarcate very clearly what should be regarded as technology or being technological and what not.Again in making up our minds concerning what should be regarded as advancement (Intangible TAM)and what not Moreover,it lies in our inability to set a unified criterion with regards to how technological advancement and its material should be understood.