Nigerian Journalist, Nze Ugo-Akpe Onwuka has blamed the astronomical rise in corruption as the cause of the country’s fuel shortage.
“The very major underlying factor is corruption. Beyond everything we are suffering today including the fuel scarcity, it is not even just fuel but every oil product in Nigeria is scarce. It is corruption that brings about these things. The negative economic indexes were also brought about by corruption,” he stated.
According to him, the Buhari led administration before wrestling power out of the Goodluck Jonathan regime inundated Nigerians that oil subsidy is a scam “but today they are telling us that they are going to pay oil subsidy. These are narratives they used to snatch power from the Goodluck Jonathan administration.”
Describing the deception of the Buhari administration as huge, he stated, “they said the cost of fuel will be reduced to as low as 40 naira and strengthen the naira to compete with the dollar at 1 naira to 1 dollar.”
Nze Ugo-Akpe Onwuka revealed corruption under the Buhari administration has quadrupled. “Corruption under this administration has risen astronomically and you can see people come into governance with the mindset of stealing from the people,” he told Samuel Eshun on the Happy Morning Show.
Although other factors such as the Ukraine-Russian war, the upstream and downstream activities have influenced the global prices and supply of petroleum products, the journalist vehemently argues, “The bottom line is corruption. Whatever the drama is, the underlining word is corruption and that has put Nigeria in this position.”
He described the Buhari administration as the most corrupt in the history of Nigerian politics and called for their immediate change. “It is almost 8 years, 8 years of hell, 8 years of doom. There has never been any smiling moment for Nigerians. From killings across the country which the gov’t has made look like fashion to corruption.”
Nigeria’s inflation rate rose in February after recording a fall in January as Africa’s most populous nation faces fuel shortages that have helped push prices higher.
The country’s statistics office announced Tuesday that the consumer price index (CPI) increase between February 2021 and February 2022 was 15.70 per cent, higher than 15.60 per cent recorded in January,
The National Bureau of Statistics (NBS) said the prices of goods and services, measured by the Consumer Price Index, fell 1.63 per cent points lower than the rate recorded in February 2021 (17.33 per cent).
The rise in the food index was caused by increases in prices of bread and cereals, food products, potatoes, yam and other tubers, oils and fats and fruit, according to the NBS.
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