Higher petroleum sales prices in neighboring countries has been an incentive for unscrupulous Nigerians to smuggle to such nations about 30% of petrol meant for Nigeria, Major Oil Marketers Association of Nigeria(MOMAN) has revealed.
According to a recent publication signed by the MOMAN Chairman, Adetunji Oyebanji, the oil marketers stated that neighboring countries cannot afford to subsidize fuel, because they have no oil.
“Therefore,” he said, “it is not sustainable for Nigeria to continue to subsidize fuel for other countries. We must understand that our oil resources are running out. If this is not enough cause for concern, everyday, we see alternative forms of energy being developed and becoming more viable.
“This is inevitably will mean that one day in future, we will either run out of oil or no one will want to buy it, because of cheaper alternatives. The question then becomes how we could afford subsidies but were currently flirting with bankruptcy.”
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