Global Statistics

All countries
34,412,744
Confirmed
Updated on October 1, 2020 10:47 pm
All countries
25,380,951
Recovered
Updated on October 1, 2020 10:47 pm
All countries
1,022,834
Deaths
Updated on October 1, 2020 10:47 pm

Global Statistics

All countries
34,412,744
Confirmed
Updated on October 1, 2020 10:47 pm
All countries
25,380,951
Recovered
Updated on October 1, 2020 10:47 pm
All countries
1,022,834
Deaths
Updated on October 1, 2020 10:47 pm

Crude Oil Price: Nigerians getting robbed in austerity measure era

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Oil-salesSome weeks back, Nigeria’s Minister of Finance, Dr Ngozi Okonjo-Iweala, asked Nigerians to tighten their belts, as the government has started putting measures in place to check the effect of crashing price of crude oil.

The price of crude has crashed to as low as $67 dollars per barrel and the drop in crude price has led to drop in pump prices of finished crude products in most countries around the world.

As much as this has continued to happen, oil companies in Nigeria have continued to reap Nigerians off, still selling fuel and other petroleum products at the normal price.

My surprise is that most media houses have concentrated on the effect of the drop in crude and not on the plight of the common man.

Paying the same amount means huge money for persons selling these products in Nigeria and this sheer man’s inhumanity to a fellow man.

There is something about the government that keeps one wondering. Why has the government kept quiet about the need for price cuts in this era that Nigerians are getting robbed.

They are so consumed by their thoughts about the obvious. The price of crude has forced the Nigerian government to further cut Budget oil benchmark to $65, but the truth is that further cuts are expected because the Asian market, which Nigeria is focusing on is flooded and there are no new buyers in sight.



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Should Nigerians still buy the product at the normal price while the marketers make more money? They must speak up and not keep quiet for “the man dies when he keeps quiet in the face of tyranny and oppression”.

They have absorbed the fuel subsidy removal and it is a time for them to pay less. the government should not just keep mute as if all is normal. The law of Economics must take effect here too or are we not part of the world order?

NP/contributed by Williams Chinedu Osewezina

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