Nigeria’s Corrupt Fuel Subsidy: The Genesis and Nemesis, by Adedamola Adetayo


1. In the past, we had FOUR (4) REFINERIES.

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Two (2) in Portharcourt, One (1) in Warri and another One (1) in Kaduna.

Crude oil was pumped into those four REFINERIES and we got all the products we wanted.

Even at that time, the Four Refineries couldn’t meet our consumption in Nigeria and we had to import the balance.

I am not sure anybody bothered to find out why the Four Refineries couldn’t meet our domestic needs for fuel, perhaps we were servicing Benin and Niger Republic and God-knows how many other Republics we serviced.

There was the ATLAS COVE JETTY built somewhere on the fareway bouy, off the Lagos coast, very far from town where all products were received by the NNPC.

It is owned by the NNPC.

2. There were NNPC FUEL DEPOTS all over the country.

There is one in Mosimi in Sagamu, Apata in Ibadan, Ilorin and so on and so forth

We also had the MAJOR MARKETERS at the time: Mobil, Texaco, Shell BP which became NATIONAL OIL, AP etc.

Each of the Major Marketers had their DEPOTS at a place in Ijora-Apapa.


I believe the Depots of the Major Marketers received their consignment directly from the ATLAS COVE

I believe there was a network of underground pipes which conveyed the products from the Atlas Cove to the Ijora-Apapa Depot’s and also to the Mosimi depot.

I believe Mosimi pumped fuel to Ibadan and Ibadan to Ilorin and so on and so forth.

The Major Marketers distributed petrol around Lagos with the tanker trucks. I believe, and infact there are evidences to show, that most of the fuel going to the Northern parts were transferred through special rail tankers and not road trucks.

FUEL WAS PUMPED to the depots all over the country and road trucks only executed local transfers from depot to filling stations.

3. The world was a lot saner then.

It was the period before AMERICA came with PRESIDENTIAL SYSTEM, IMF, WORLD BANK AND SAP. It was the period of sanity just before the ZIONISTS just got their own INSPIRATION which was around that period too.

How very coincidentally that the three SET OF CROOKS came into the country at about the same time in that 1980s!!!

CORRUPTION which we were hiding to do before suddenly became INSTITUTIONALIZED by the military Government of Babangida.

CORRUPTION which the society frowned at before suddenly became PROSPERITY in the hands and mouths of the people suddenly men without known or honourable means became glorified and exalted in the society.

Sometime in the middle 1980s, during the regime of Ibrahim Babangida, I believe, the Federal Government gave notice that it was going to embark on a TURN-AROUND MAINTENANCE [ T.A.M ] of some or all of our refineries.

As a result of the shortfalls expected, and also because NNPC was the major importer and administrator of FUEL matters in Nigeria and wouldnt be able to cope with the anticipated shortfalls, licences were given to private actors to also import fuel into the country along side NNPC.

Those people were called INDEPENDENT MARKETERS.

The TAM was targeted for 18months at the time.

But that was nearly 40YEARS ago and we may NEVER have that TAM completed.

The refineries NEVER returned from that TAM.

They were actually grounded, destroyed and never to function again till this day.

We created emergency billionaires called independent marketers and they are the MONSTERS which we have fed and battle till this day.

4. AMERICA will not allow us understand our FOREX since that time.

The ZIONISTS were all out to destroy the refineries to enable their own schemes which are nourished through IMPORTATION.

The PASTORPRENEURS kept on preaching PROSPERITY to fuel the corruption, damage our VALUES, emasculate our MORALS, divided our ATTENTION, threw VIRUSES into our SOCIAL HARMONY and ensured that we were perpetually zombified and permanently distracted from the main issues but instead glued to the channels of the kingdom of Heaven.

NAIRA was just falling hard, POVERTY accelerating and the people were totally incapacitated they will never be able to bring useful persons from their midst to form responsible Government that could ever be able to do anything in the revolving socio-economic crises.

By the way, ALL of the system mentioned in No. 2 above have been destroyed.

Pipelines have been severally attacked and vandalized, ofcourse with insider help from same Government officials in NNPC.

You couldn’t vandalize a petroleum pipeline without insider help.

They have destroyed everything and now you see thousands of fuel tankers on Lagos-Ibadan expressway carrying fuel to as far away places as Sokoto and Maiduguri.

Those trucks destroy the roads and kill many Nigerian citizens through fire accidents.


5.. What has then happened is that we got a set of CRIMINAL PEOPLE who call themselves independent marketers who IMPORT FUEL.

We got another set of CRIMINAL GOVERNMENT people in the civil service of NNPC and POLITICIANS/MILITARICIANS.


The Marketers get licence, get FOREX and they go to import fuel but the Government MUST first assure them, more or less, to OFFTAKE THEIR TRADE RISKS.

The Marketers are traders doing but who MUST get guarantees from Government to more or less buy their products AT THEIR OWN QUOTED PRICES before even setting out.

So the marketers go to Europe for example to buy 30 MT OF FUEL and they will report a LANDING PRICE “according to exchange rates” of about N500/litre for example.

Since the Government has fixed N180/litre as pump price, then the Government is under obligation to pay the balance of N320/litre.

This N320/litre, for this example, is what I believe is and understand as the FUEL SUBSIDY

And this is where the problem lies.

6. A man can import 10MT of petrol then he will run to PPPRA in Abuja to report that he brought in 60MT.

Ofcourse there is an arrangement with some crooks in that agency of NNPC and the relevant Government departments.

The man will collect N320.00 x 60,000,000 lites [ For 60MT instead of 10MT ] settles the necessary people and simply go back home with BILLIONS OF NAIRA.

On Sunday he will go and do Thanks-giving to his Pastor and him Jet.

He can afford to build 200 Mosques inside 3 months and send 1,000 people to Mecca to pray.

7. What has then happened is that the first set of people, GOVERNMENT PEOPLE who already cornered 50% of our income to themselves as SALARIES AND ALLOWANCES will also through and in conjunction with the second set of crooks, the MARKETERS, swallow another 25% of the balance through the FUEL SUBSIDY SCHEMES


These people: GOVERNMENT, MARKETERS, RELIGIOUS MERCHANTS AND ZIONISTS are altogether probably less than 10% of the population.

The poor Nigerian Masses who are about at least 90% are left to grope in the dark to manage less than 25% of the remaining balance of our income.

From that 25% , there will still be found some small crooks amongst the masses – Armed robbers, Agberos, Vandals, Area boys, Shylock traders etc – who will corner 5% to themselves.


My Arithmetic tells me that will NEVER make sense.


You can’t fight easily.

The surest way to fight it is with the help and support of the MASSES.


The first thing the marketers will do, and which they have done, is to lock up their Depots and filling stations.

They are not interested in FREE MARKET TRADE.

You HAVE TO give them subsidy to be in Business.

Once you stop it they will also lock up shops.

And there will be FUEL SCARCITY.

FUEL SCARCITY is music in the ears of groups like the opposition parties, especially in this age of the ever hateful ZIONIST ObIngos.

They will instigate the same MASSES to revolt.

Unless a Leader is extremely strong, he will eventually back down and continue to allow the SCAM.

If he doesn’t back down, he will be seen as wicked and anti-people and ObIngos will be excitedly going about with the news.

Then you will hear ” Bread was N100 during Buhari, it is now N200 during Tinubu”

If he backs down, things will only become worse.


9. Remove subsidy and damn the consequences.

Totally Hands of fixing of fuel prices.

If you are an independent marketer, go and import fuel and sell at your price, even if it is N1,000/litre.

It is free Market.

Government can charge the banks to asssist those marketers who are serious with business with credits.

Let it continue like that and allow market forces to determine the final prices and the exact quantity of fuel we need.

We will only have a few months to feel the pains but many years to enjoy the fruits.

Nigerian have the decision to make.

Mr. Dele Alake and all lovers of Asíwájú and Nigeria should spread the message to enlighten our people.

The ObIngos will surely feast on this and we must not allow them.

10. Open borders, reset the security infrastructure and you will see prices of food stuff will drop to counter balance the prices of fuel.

In One year, I believe we will know the truth of FUEL SUBSIDY.

Adedamola Adetayo

Editorial Staff
Editorial Staff
Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

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