It appears to be an irrecoverable sunk cost (“lost fund”) that the citizens will end up re-paying. Perhaps, it’s better if the NNPC aims to improve its capacity, and compete with the private providers, and further establish its dominance. It’s still rather difficult to predict if in-fact the global industry will continue to favour petroleum, and of course, the delays of the bill’s passage may even leave the petroleum industry bereft of participants, as they all contemplate their future survival, as the world gradually transforms to an environment free of petroleum-powered cars and transportation. As France’s President, Emmanuel Macron, soundly emphasised, “there’s no planet B”. Everyone must ultimately fall on-board with the world’s forward environmental dictum.

Source: Punch July 08, 2021 00:00 UTC