FUEL SCARCITY LOOMS OVER NON-PAYMENT OF SUBSIDY (NOT AGAIN !!!)

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The frequent re-occurrence of fuel scarcity is gradually becoming a monthly affair in the Federal Republic of Nigeria. This development is one that shouldn't be taken lightly, else we the masses will bear the brunt. I'm still bewildered on the sad fact that Nigeria being one of the greatest producers of crude in the world, lacks it in its own operating environment. This shows a high degree of mismanagement in my own opinion by players both in the upstream and downstream sector. 
Could the Treasury Singular Account (TSA) introduced by the President Buhari administration have had any effect on this? The Chief Executive Officer of Integrated Oil and Gas, Captain Emmanuel Iheanacho who spoke at the just concluded Africa Trading Logistic Downstream Conference said" interests on bank loans to oil marketers for financing of fuel importation have grown huge, forcing banks to withhold funding." He further urged the Federal Government to use the over $6 billion spent on fuel subsidy yearly to encourage net importers of petroleum products to become net refiners of crude oil. Economists have applauded the president on his determination to fight corruption at all levels but stressed the negative impact of the TSA on the economy as evidenced above.
 The guardian news, had the following to say: