Fuel Subsidy Fiasco: Unmasking the Truth Behind Nigeria’s Blended Fuel Scandal and the Urgent Call for Accountability

Nigeria, we hail thee! The urgency of the fuel subsidy issue is palpable in the stories surrounding the importation of blended fuel from Malta, as narrated by Alhaji Aliko Dangote. It appears that the powers behind petroleum subsidies are determined to prevent any refinery operation in Nigeria and resist the removal of the subsidy.

Oil Marketers have stated that the landing cost of petrol is N1,117 per liter, translating to a monthly figure of NGN 700 billion. This is compared with the statistics of about NGN 3.60 trillion in the budget in February 2023 to cover six months, but during BAT’s message to the country at his swearing-in last year, Tinubu said, “Subsidy is gone.” The subsidy has yet to go anywhere. Nigeria is bleeding, and for me, the subsidy is a pressing issue that should be handled more vigorously with the urgency it deserves.

In a time when resources are scarce, and people are struggling to afford fuel, it is crucial to address why Nigeria is spending more on fuel subsidies than last year. These are some of the vexed issues underneath the iceberg that the government has. The need for transparency and accountability in these matters is not just a suggestion but a fundamental requirement for a just and fair society. These values are not just words, they are the guiding principles that will lead us towards a more equitable future.

When business Mogul Aliko Dangote accused certain entities within the BAT government, oil traders, and the NNPCL of running a blending plant in Malta and, in turn, supplying substandard petroleum products to Nigeria, the allegation sent shockwaves through the media. The NNPCL, in response, vehemently denied being part of the cartel and challenged Dangote to name the NNPCL staff involved. The Oando group, a business associated with the Tinubu family, has also denied any association with the Maltese blending plant, further complicating the situation.

Aliko Dangote’s accusation should have prompted the government to launch a high-powered investigation into his allegation because internet sources revealed that from 2017 to 2022, there was no fuel importation from Malta. However, it has been said that Nigeria’s importation of blended fuel from Malta rose sharply to a whopping 2.25 billion euros in 2023. Other sources allege Nigeria stores petroleum products in the Maltese government-owned Ras Hanzir. Interestingly, Ras Hanzir claims that the story is untrue and that the entity mentioned is fictitious and does not exist (http://www.maltatoday.com.mt/…/ras_anir_refinery_claims…)

With Dangote, Oando, Ras Hanzir, and the NNPCL all calling for a high-level probe panel to unravel the truth, the question that arises is, what is stopping the Federal Government from doing so? The need for a thorough investigation is not just important, it’s paramount. It’s crucial to uncover the truth and expose the beneficial owners of the Malta oil blending facilities, or at the very least, reveal those exploiting Nigeria through fuel importation and earning petroleum subsidies, which depletes the money available for Nigeria’s development.

This is a realm for investigative journalism. The role of journalists in uncovering the truth in this complex matter cannot be overstated. Apart from the capital-intensive nature of the funds required to follow this story, embarking on investigative journalism space over this matter could be likened to trying to unmask the devilish masquerades operating in an evil forest. This can be fatally deadly and akin to embarking on a suicide mission.

As this saga continues and the principalities and powers swim in an ocean of illicit subsidy windfall to the detriment of Nigeria and Nigerians, the average Nigerian is left to deal with the consequences. With the fear of the ‘No movement’ trap looming, Nigerians are left with no choice but to fill their cars, hoping to avoid the potential chaos if tomorrow comes.

Grace and peace!!!