Expert Proffers Solution To Fuel Scarcity

A Nigerian petroleum engineer, Chinedu Onyeizu, said he has proffered innovative solutions to Nigeria’s current fuel supply crisis.

Onyeizu who is the founder and CEO of Rhino Group of companies and a globally renowned energy consultant finished as a postgraduate student at the prestigious Massachusetts Institute of Technology (MIT), Boston, USA.

Speaking to energy reporters in Abuja, Onyeizu unveiled a policy and technology-based three-node model solution which, he said, can permanently solve the fuel crisis challenge in Nigeria.

He said the strategy will require unbundling the downstream sector into three strategic modes namely: downstream-upstream node (DUN), downstream-midstream node (DMN), and downstream-downstream node.

The three-node model, according to him, is policy-based, and critical enablers include, locating new refineries at operational bases of producing companies, collaborating with IOCs and indigenous producers to operate the refineries, and for NNPCL to provide funding for the construction of these refineries, among others.

“With the bad economic situation in the country, if Buhari removes subsidies, it will result to price inflation and upward adjustment in price of commodities. In fact it will be catastrophic and perhaps an eventual collapse of the economy since we are a mono product economy, Chinedu Onyeizu said.