OPEN TALK SERIES:FROM OIL BOOM TO OIL DOOM? Comparing And Contrasting Nigeria's History of Fuel Scarcity, Long Fuel Queues, Fuel Price Hikes From 1974 to 2024
Amid new waves of fuel scarcity, the return of long fuel queues and fuel price hike with the attendant unpleasant drama, pains, agonies and stories that touch the heart associated with the experience, self-styled Nigerian TV Host, Ambassador Olufemi Orunsola has debuted a dedicated series of his new show, OPEN TALK WITH FEMI to helping Nigerians make a complete sense out of the present situation by reflecting on the year 1973/1974, an era when the price of fuel was increased from 6 Kobo to N8.45 Kobo.
By: Abdulwasiu Akintunde, Israel Adeleke
In a new series of sobering reflections on Nigeria's trajectory of oil boom of the 1970s till date, implications of the new waves of fuel scarcity and indiscriminate hike in fuel prices has gained the attention of TV host, and Chief Executive Officer of OPEN TELEVISION NAIJA, Ambassador Olufemi Orunsola in a new episode of the social reality check show tagged OPEN TALK WITH FEMI.
OPEN TELEVISION Naija (OTN) News reports that Ambassador Olufemi Orunsola, presents a thought-provoking discussion on the return of long fuel queues to many parts of the country and the attendant skyrocketing prices of petrol across Nigeria.
Featuring and reviewing two significant video timelines, one from 1974 and another from 2024, showcasing fuel scarcity events in Nigeria separated by 50 years, Ambassador Orunsola reminds Nigerians of a pivotal moment in the country's history dated 1973/74, under the leadership of General Yakubu Gowon,when fuel price was increased from 6 kobo to N8.45 kobo per liter.
Fast forward to 2024, when Nigerians are now paying between N580 and N1,000 per liter of petrol, depending on location, the TV host appeals to Nigerians to compare and contrast the fuel supply situation reports in the country.
The TV host stated that "With fuel prices soaring and long queues resurfacing at petrol stations across the country nationwide, the question becomes: Has anything truly changed in the past five decades, or are we seeing a repeat of history?."
Through these two videos, the host encourages viewers to closely examine the striking similarities and differences in Nigeria’s fuel scarcity situation over the last 50 years.
OPEN TALK WITH FEMI therefore invites viewers to reflect on whether the oil boom of the 1970s, a period when Nigeria’s economy was heavily reliant on petroleum, has now turned into an oil doom in 2024, with constant fuel shortages and unaffordable prices.
By revisiting fuel scarcity events from the 1970s and comparing them to the current crisis, the episode raises critical questions about Nigeria's energy management over the decades.
The hard core open questions that emerge are therefore these:
Have successive Governments learned from the past, or is Nigeria stuck in a cyclical oil crisis? Is the rising cost of fuel simply a reflection of inflation and global market dynamics, or does it point to deeper structural issues in the country’s oil sector?
As viewers watch the videos and ponder the host’s analysis, they are encouraged to join the conversation by sharing their thoughts and comments in the comment section.
With his entertaining yet thought-provoking and soul-searching style of presentation, Ambassador Olufemi Orunsola tasks viewers of the show to openly ventilate their opinions on "What stands out to you in the comparison between 1974 and 2024? How have the challenges evolved, and what has remained the same over the years?"
On the whole, the Special episode of OPEN TALK WITH FEMI leaves viewers with a pressing question: Has Nigeria’s once-thriving oil industry, which promised prosperity in the 1970s, now become a burden in 2024?
Watch the full episode to explore these critical issues and contribute to the ongoing energy conversation in Nigeria via this link
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