Fuel price increase: When is enough truly enough?

One of the biggest challenges I have with understanding the dynamics of the global oil industry is  how and why a surge or drop in global oil prices at the international market never benefit ordinary Nigerians.

Because when Corona Virus happened in 2019 and global oil prices dropped, Nigeria told us that our  national earnings dropped and hence we had to endure some hardship. Fast forward to a few years later and Russia-Ukraine happened. Same people told us that global oil price increased thereby making fuel more expensive. Again we were told to endure the suffering.

The ongoing conflict in the Middle East has resulted in yet another surge in global oil prices and you would think that as an oil-producing nation, we are supposed to be “smiling” to the bank. Instead, we have a situation where fuel pump price has moved 3x within a week.

Sadly, just few minutes ago, I was listening to a radio proram where a commentator who claimed to be an “analyst” put more of the blame on previous governments than on the current government and all I could do was shake my head in utter disappointment.

When Nigerians are ready to have a country, we know what to do.