Former Minister of State for Petroleum Resources, Ibe Kachikwu, has recounted the intense challenges he faced while tackling Nigeria’s fuel scarcity crisis during his tenure between 2016 and 2019.
Speaking at a virtual business mentorship lecture organized by the Nigerian Content Development and Monitoring Board on Monday, Kachikwu revealed how much of Nigeria’s subsidised petrol was being smuggled across borders, making queues at filling stations almost impossible to eliminate.
He disclosed that the late former President, Muhammadu Buhari, strongly resisted any move to adjust pump prices due to his populist stance. According to Kachikwu, Buhari went as far as threatening to sack him if subsidy removal backfired.
“The greatest challenge I had when I resumed as GMD was the endless fuel queues. Few Nigerians know how traumatic it is for a minister who wakes up to see the country grounded. I personally went to filling stations, helped manage traffic, and ensured petrol flowed. Yet, the problem never stopped,” Kachikwu said.
He explained that investigations revealed a large portion of subsidised fuel was being smuggled to neighbouring countries. Despite efforts to work with customs and security agencies, smuggling persisted because the system lacked the political and security capacity to effectively police Nigeria’s borders.
“I went to the President several times to push for a price review. He resisted because of his populist position. Eventually, he said: ‘Okay, I’ll leave you to take the risk. If it works, fine. If it doesn’t, I fire you.’ And I did.”
Kachikwu said he introduced “price modulation”, a policy that allowed fuel prices to reflect global oil market realities. The slight price adjustment not only eliminated subsidies but also ended fuel queues nationwide within 48 hours.
“That singular adjustment removed the subsidy completely. Within two days, every queue in the country disappeared, and it remained so until I left office. The government also earned more revenue, and I could finally sleep better,” he added.