Tina Amanda
An Oil and Gas Expert, Azubuike Azubuike, has suggested that the solution to end the Cooking gas supply shortage and hike in price, is for the Nigeria Liquefied Natural Gas, NLNG, to produce enough Gas for domestic usage before exporting it to the international market.
Azubuike who disclosed this in an interview with our correspondent maintained that the outrageous rise in the price of cooking gas is caused by Petroleum Marketers buying the same product produced in Nigeria at a high cost from the international market, due to a high increase in the foreign exchange rate.
He maintained that LNG is only concerned about flooding the international market with its LPG product, without adequate consideration to drop the ten per cent required at the domestic level.
He explained that the government can not be talking of needing foreign exchange to the detriment of its citizens who bears the brunt and pain of economic hardship, from God-given natural resource it ought to enjoy before any other country.
“Majority of LNG products are sent abroad, the implication is that the same gas will be imported into the country at an international rate and the exchange rate is on the increase. So any importer who buys from a high rate would not want to sell at a loss, because they import based on dollar and foreign exchange rates.
“If we look at the LNG template, you find out that LNG produces here in Nigeria and sends most of its products to the international market and it’s being priced at the international market. With the percentage, they are dropping at the domestic level. I am sure it is not up to ten per cent of the required usage.
“Nigerian government can not be talking of needing foreign exchange at the detriment of its citizens, let LNG produce enough gas for domestic use before flooding the international market with our product”.
Azubuike emphasized the urgent need to fix the nation’s four refineries, stressing, however, that it will only happen when the country gets leaders who have the interest of the masses at heart.
“Everything rises and falls in leadership. We need to, first of all, have leaders that will be responsible to the masses. What are we doing with our refineries? Why will the government be talking about having twenty (20) per cent shares in the Dangote refinery while the nation’s four refineries are lying fallow and being used for political campaigns?
“Let’s start doing what is right by running our own refineries to flood the domestic market with our products. Why is the government putting billions into the repair of our refineries and nothing good is coming out of it? They are only interested in the Dangote refinery.
“Companies are closing down because they can not maintain the cost of production due to the high cost of diesel (AGO). Again, the masses of this country are still comfortable with the economic situation if not people would have taken over the streets to protest, they cannot kill everyone at the same time people are suffering and dying, majority of people have lost their jobs and people can no longer provide for their families”.
