Skip to main content

Posts

Showing posts with the label Oil Sector

Fuel Scarcity in Nigeria: Time to End the Cycle of Excuses

  Introduction: Fuel scarcity is a recurring nightmare for Nigerians, a problem that has persisted for decades with no lasting solution in sight. The latest wave of scarcity has once again exposed the inefficiencies and lack of accountability within the country’s oil sector. The Nigerian National Petroleum Corporation (NNPC), under the leadership of Mele Kyari, has offered various excuses, but these explanations have done little to ease the frustration of the millions of Nigerians affected. As the nation grapples with yet another fuel crisis, it is clear that the time for excuses is over, and the need for concrete action is more urgent than ever. The Cycle of Fuel Scarcity: Fuel scarcity in Nigeria is not a new phenomenon. It has become a cyclical event, occurring with alarming regularity and causing widespread disruption to daily life. Each time, the reasons given for the scarcity are familiar—pipeline vandalism, foreign exchange challenges, or logistical issues. Yet, despite th...

Unpacking NNPC’s OVH Energy Acquisition: Transparency Issues and Tinubu’s Alleged Involvement

Introduction: The recent acquisition of OVH Energy by the Nigerian National Petroleum Company (NNPC) has stirred significant attention, not only within the oil and gas sector but also among the general public. OVH Energy, a key player in Nigeria’s downstream oil industry, is known for its extensive network of retail stations and its pivotal role in fuel distribution. This acquisition marks a major shift in the landscape of Nigeria’s energy sector. However, the transaction has been marred by controversy, primarily due to allegations of President Bola Tinubu's involvement in the deal. The NNPC has denied these claims, but the situation has left many questions unanswered, leading to growing concerns about the transparency of the process. The Controversial Acquisition: The NNPC’s acquisition of OVH Energy is a significant move, as it consolidates the company’s position in the downstream oil market. OVH Energy, which operates under the Oando brand, boasts one of the largest retail netwo...