Why Tinubu must treat petrol, energy supply as national security – Adebayo
07 September 2024 |
2:35 am
The presidential candidate of the Social Democratic Party (SDP) in the 2023 general election, Prince Adewole Adebayo, has advised the Federal Government to start treating the supply of premium motor spirit (PMS), otherwise known as petrol
The presidential candidate of the Social Democratic Party (SDP) in the 2023 general election, Prince Adewole Adebayo, has advised the Federal Government to start treating the supply of premium motor spirit (PMS), otherwise known as petrol, and energy as national security matters, saying that the United States of America, Russia and United Kingdom do so.
He also harped on the need for the government to invest massively in public transportation as one of the surest ways out of the current petrol supply crisis in the nation.
Speaking with journalists on the current petrol scarcity in the country coupled with the ever increasing pump price of petrol, Adebayo declared that it is the primary responsibility of government, whether using market rules or policy tools, to ensure that petrol is available and reliably delivered to the nearest pump.
His words: “We need to invest in public transportation. Nigeria has not reached a level where every man and woman would have to have a car. We can set up plants, where whether in partnership with people in Brazil or in Asia, by the time you produce 50,000, 100,000 public buses that are on CNG, some of them could even be on electric. But there must be a national programme that is devoted to that; that is not political in nature or not palliative in nature, especially at campaign season. By that, we reduce petroleum consumption by 75 per cent in the life of one administration.”
Speaking further on the issue, Adebayo said: “My own ideology is that we should continue to treat it as national security, just the way the United States of America is treating it, Russia is treating it, the United Kingdom is treating it. If you treat it that way, then you will know that it is the responsibility of the government, whether using market rules or policy tools to ensure that petrol is available and reliably delivered to the nearest pump and that it is not busting the budget.”
Commenting on the state of the nation’s refineries, he said: “The next question we should be asking is what happens to the four refineries owned by the public, three of which have been undergoing turnaround maintenance for years, since I was a young boy.
“It may be possible that Port Harcourt or Warri refineries may even have more prospect of coming on stream before any other private refinery comes on stream.
“The energy mix should be done in such a way that the fortune of the whole country is not dependent on what a private entity does. The only role of the government is to make its policy stable so that many players can come into the sector.”
On how the government can strike a balance in trying to have more vehicular movement on CNG to reduce the pressure on petroleum, Adebayo noted: “If you look at our national gas policy and implement it, liquefied natural gas, compressed gas and all kind of ways by which we can utilise gas, they are all there.
“What the government needs to do is to create a gas market that has incentives. You can first clearly make it an automotive policy that every vehicle you want to have in Nigeria must be capable of using both petroleum and gas alternately.
“If you go to Kenya, Tanzania and many places, even Ghana, they have it. Even in Nigeria, we have it at a microscopic level.
“We can use CNG and have a three-year plan where we have at least 50 per cent of construction of CNG. That will reduce the cost of reliance on petroleum.”
While speaking on whether Dangote Refinery could tremendously help to solve the petroleum crisis in the country, Adebayo said: “The problem of our politics is that we are equating an industry with a firm. Dangote is one refinery out of many. The fortune of a country cannot rest with one company unless you are doing prebendanlism or you are doing chronic capitalism.
“If you are doing proper economic planning, the refinery that Dangote is bringing will just be one of the things you are adding to your energy supply chain. Even if the refinery was working, I am not even sure it’s completed yet, but assuming it is working, it will still give you logistical requirements because the refinery is at the corner of Lagos; so you still have to get it to Sokoto, Zamfara, Benue, Mubi (in Adamawa State) and wherever.
“So, the problems we have with logistics and transportation in the country, the absence of rail lines and all of that, will still impact it. So, the way I will look at it, as a policy leader, is to give as much encouragement to Dangote refinery but not as something peculiar to him.
“I will not politicise a private company’s business because what we must run away from in Nigeria is that you must not privatise the profit and socialise the loss, meaning, the core centres are given to the tax payers and the profit is given to private player.”
The SDP presidential candidate insisted that all efforts must be made to ensure that the nation’s refineries are working.
“You also need to make sure that the refineries are not dead woods. They are not just core centres that are not performing. You need to make sure that the turnaround maintenance is done and the racket created around it where every government comes and spends money on it must come to an end,” he said.
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