100 Days Of Smooth Supplies
AS drums are rolled out in celebration of President Goodluck Ebele Jonathan’s 100 days in office, Nigerians could regale in the smooth supply of petroleum products witnessed since his presidency commenced.
Elsewhere, this would have been a matter of minimal interest, but not so for the average Nigerian who is used to agonising over the next round of fuel scarcity. The ease of obtaining products and the stability of the prices in the past three months has been remarkable.
An unprecedented stability in the supply and distribution of petroleum products throughout the country has resulted in some stations selling below the official price of N65 per litre.
The impact is felt more in some parts of the country, notable the East and far North which have not enjoyed steady supply of products for years, not to mention buying at official price.
How long would the party last? Is this a flip that would fade after 100 days? The Nigerian National Petroleum Corporation, NNPC, says with Warri, Port Harcourt and Kaduna refineries working simultaneously, for the first time in almost five years, the increased local refining capacity would help in maintaining supplies stability.
NNPC is increasing its hold on the downstream sector by expansion of its retail outlets.  Its acquisition of 427 affiliate stations to supplement its 37 mega stations and 12 floating filling stations, is part of its strategic plan to own at least 50 per cent of filling stations in Nigeria. The aim is to tackle artificially induced fuel scarcity.
A couple of new laws and investments in explorations would take the celebrations beyond 100 days.
The Nigerian Content Act and the Petroleum Industry Bill are among them. A faithful implementation of the laws could generate over 30,000 jobs in the next five years, in addition to increasing participation of local companies and indigenes in the industry.
Foreign investors like the China State Construction Engineering Corporation, CSCEC, China’s largest engineering company, in conjunction with NNPC, plans three Greenfield refineries which can refine 750,000 barrels per day (about 45 million litres of refined petroleum products) and one petro-chemical plant.
Forecasts are that the projects will collectively create over 20,000 jobs – about 14, 000 workers would be required during construction, and about 6,000 workers are needed to run the three refineries and the petro-chemical plant when they start operations.
A new commitment to use more of Nigeria’s gas in power generation is at the centre of some of government’s recent decisions, including the new pricing regime for gas.
When the President engages stakeholders in Lagos today, power generation would be the focus, an indication that he is looking beyond the euphoria of his first 100 days in office.
For most Nigerians, the billions of Dollars that Nigeria earned from oil is distant. What affect them directly are fuel and electricity supply.
If the President sustains the momentum of steady supplies and sets the firm course for gas to be used in power generation, he would have created enduring landmarks that would enhance the quality of Nigerian lives through increased industrial activities and productivity.
