NUPENG has today commenced an indefinite strike for reasons ranging from non-passage of the PIB law to derelict refineries and non-reduction of fuel pump prices in the face of sliding world oil prices. First, the timing of the strike is unfortunate as this is the busiest time of the year due to the increased economic activities brought about by the Christmas and New Year festivities. It looks more like the NUPENG is trying to blackmail the govt by choosing this time to strike. I will not dwell on this rather I will look at the legitimacy of the demands made. The passage of the PIB law is the function of the legislature and not the executive. The PIB has been awaiting passage right from the time of Obasanjo. We all know the politics behind the non-passage of the PIB and nothing has changed as interests still remain vested. One would have expected NUPENG to picket and barricade the National Assembly to get the legislators to pass the PIB or agitate for their recall by their constituencies rather than holding the entire nation to ransom. The NUPENG should deal with the legislators, please. With regards to the near derelict refineries, one wonders why NUPENG is just waking up to that. We all know how much Obasanjo spent on TAM (turn around maintenance) for the refineries ($42B) with nothing to show for it. Does NUPENG want our scarce resources in the face of dwindling oil revenue to be pumped into a bottomless pit which the existing refineries are? The way to go and as is the global trend is for govt to hands off business and leave it to private investors. Our national corporations i.e NITEL, NEPA, Nigeria Airways, etc have all been mismanaged and acted as conduit pipe for syphoning the commonwealth. The FG has licenced private investors to build refineries and many of such refineries will soon come onstream like that of Dangote. Weve all seen how the telecomm sector has been deregulated and the benefits. Many of the private refineries would have indeed taken off if not for the uncertaintity of the market in the face of the subsidy regime. Are Nigerians ready to deal with subsidy removal? We cant eat our cake and have it. Lastly, so because there is global oil price slide, the FG should reduce fuel pump price: is the FG no longer paying subsidy on petrol? Global oil price slide will only mean the FG is paying a lower amount for subsidy thereby releasing more money for other pressing demands. The pump price of petrol is more than $2 in most part of the world and its not like wer being shortchanged paying N97 (far less than $1). Please NUPENG should reconsider its strike unless it has an ulterior motive.
Posted on: Mon, 15 Dec 2014 09:18:02 +0000