A Review of the Nigerian Energy Industry

Power, fuel, kerosene supply improve moderately

President Mohammadu Buhari.
*President Mohammadu Buhari.

Kunle Kalejaye

01 October 2015, Sweetcrude, Lagos – President Muhammadu Buhari has reiterated that power, fuel and kerosene supply have moderately improved throughout the country in the last few months .

President Buhari stated this in his 12 minutes Independence day live media broadcast message to mark the 55 independence anniversary of Nigeria, which is his first comment on power, fuel and kerosene situation in the country.

On power, he said government officials have held series of long sessions over several weeks about the best way to improve the nation’s power supply in the safest and most cost effective way noting that in the mean time improvement of power supply is moderately encourgageing.

‎By the same token, President Buhari said supply of fuel and kerosene to the public has improved throughout the country, an early indications that within months the whole country would begin to feel a change for the better.

In addition to increased fuel and kerosene supply, Buhari said the nation’s refineries which can be service and brought back into partial production would resume operation so that the sordid business ‎of exporting crude and importing finished products in dubious transaction could stop.

Buhari added preliminary steps have been taken to sanitise the nation’s oil corporation, Nigeria National Petroleum Corporation, NNPC to improve its operations so that so that the inefficiency and corruption could be reduced to a minimum.

‎Commenting on the sharp drop in crude oil prices, Buhari said prudent housekeeping is needed now more than ever, ‎noting that it is a challenge “we have to face squarely”.

“But what counts is not so much what accrues but how we manage our resources that is important.”

For this reason, the president said he has ordered a complete audit of other revenue generating agencies like the Central Bank of Nigeria, CBN, Nigeria Customs Service, NCS, Federal Inland Revenue Service, FIRS, and the Nigeria Communication Commission for better service delivery to the nation.

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