SAVE NIGERIA GROUP REJECTS INCREMENT IN PRICES OF PETROLEUM PRODUCTS


SAVE NIGERIA GROUP(SNG)

Press Statement:

SNG REJECTS THE UNWARRANTED AND OPPRESSIVE INCREMENT IN PRICES OF PETROLEUM PRODUCTS!

The Save Nigerian Group (SNG) hereby condemns the unwarranted and inhumane increment in the pump prices of petroleum products by the President Goodluck Jonathan-led Federal Government under the guise of ‘removal of fuel subsidy’.

We had followed the arguments, debates, meetings (secret and open), campaigns and moves being made by the Federal Government and its surrogates and co-conspirators to hoodwinking or coerce the impoverished Nigerians to accept an evil World Bank/Western Imperialist-policy that will further heighten the hardship and anguish of the people with consternation.

And contrary to the lies being advanced by the Goodluck Jonathan-led government, our research has revealed the following truth about the actual price of getting petroleum product in the Nigerian market:

  • 1)One barrel of Crude oil = 42gallons or 159 litres; 2) Our four (4)Refineries combined Installed Capacity is about = 445,000 barrels per day; 3) the actual current Refineries Capacity due to ageing equipment is= 30%( i.e. 133,500 barrels per day; 4) the 133,500 barrels is= 21.2 million litres; 5)And the required Domestic consumption (F.O.S) is= 12millions litres; 6) This means that even our moribund Refineries can actually meet our local consumption need of petroleum; 7) The cost structure of crude oil production is: Findings / development – $3.5,Production Cost – $1.5,Refining Cost – $12.6,Pipeline/Transportation – $1.5,Distribution/Bridging Fund Margin -$15.69; 8)With this, the total sum cost per one (1) barrel of Petroleum anywhere in Nigeria will be = $34.8;Then one(1)litre cost will be- $34.8/159 litres which will be= $0.219; 9)To get the Naira equivalent then multiply $0.219 by N160(i.e. the current exchange rate of Naira to Dollar):0.219xN160 = N35.02k;When we Add Tax-N5 + N35.02 = N40.02; 10) Thus, the actual cost of petroleum product per litre in Nigeria N40.02 and locally refined products cannot be sold at International price.

It further showed that among the other oil producing nations and the members of OPEC, petroleum products costs highest, even at N65/litre, in Nigeria. Thus petroleum products costs about N9 in Venezuela;N16 in Gaddafi’s Libya;N18 in Saudi Arabia;N31 in Kuwait;N32 in Qatar;N40 in Bahrain;N54 in UAE; and N58 in Iran=N58 per litre.

With the above findings, the Federal Government should tell Nigerians how they came about the N65/1litre of petroleum product or the issue of ‘Fuel Subsidy’. In order words, in the first place, there is no Federal Government SUBSIDY on petroleum product that need to be removed in Nigeria. What is really lacking in Nigeria are sincerity of purpose and will power on the part of the government to fix our Refineries, fight corruption and develop other sectors of our economy.

Thus, it is very oppressive, shameful and regrettable that despite wise counsel given to the Federal Government freely by the civil society organisations, labour and other patriotic Nigerians, President Jonathan and his cabal held onto this deceitful and imperial proposal and went ahead to try to callously and unpatriotically impose this exploitative petroleum price regime on our people on the 1st of January, 2012 as a malevolent New Year gift!

In view of the resolutions of the emergency meeting of SNG held in Abuja today, the 4th day of January, 2012, we hereby direct all our members and affiliates across the country to mobilize the Nigerian masses both at the state and regional levels to the streets for mass protests against this heinous action of the government while waiting for further directives on the on-going plans for the mother of all protests in Abuja until this IMF agenda is ditched. We also commend the efforts of other groups, coalitions and civil society organisations that have so far commenced protests against the unpopular and unpatriotic policy of the Jonathan-led government.

We assure Nigerians that SNG and its members/affiliates nation -wide will remain in total solidarity with the masses to confront this unjust policy until it is reversed.

Finally, we still advise Mr. President and his government to tow the part of honour and integrity by reversing this unpopular and anti-people policy, and rather fix our moribund refineries as well as courageously tackle the issue of corruption and the vicious cabal despoiling the oil and gas sector as the only right way to resolving this man-made crisis and save Nigeria from an imminent genocidal revolt and collapse. The President should know that where he refuses to reverse this ugly policy of his government, the same Nigerians who protested/struggle under the umbrella of SNG to make him the president of the country will not hesitate to reclaim their mandate using the same means with the attendant consequences.

No doubt, Mr President shall be held responsible for the death/ blood of all Nigerians who have so far been murdered or may still be martyred by security agents on the directives of government while protesting against this hike in fuel prices.

No other force in the world has ever defeated the will and the forces of the people! A stitch in time saves nine! May God save Nigeria! Aluta Continua!

Signed:

Mr Femi Falana                                           Benedict Ezeagu, Esq                                   Stanley Dien

Chairman Board SNG                                    National Coordinator                                       Acting. Secretary

Chief Willy Ezugwu                                       Olabode Fronsic                                      Shehu Mustapha 

Vice Chairman, Advisory Board                            P.R.O                                                Organizing Secretary

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