Nigeria’s Recurrent Fuel Crisis

Nigeria’s Recurrent Fuel Crisis

Our dear country Nigeria is blessed with abundant natural resources. These resources include arable land, good weather and abundant rainfall. We are also blessed with a rich supply of crude oil and natural gas. Therein, lies the mystery of our beloved country.

Introduction

As one of the leading exporters of crude oil globally, Nigeria continues to import refined petroleum products. Nigeria currently imports liquified natural gas, a by-product of refining crude oil. Meanwhile, liquified natural gas is being flared on a daily basis from oil rigs across the country. This is a puzzle for the most brilliant economists to unravel. Why we continue to export crude oil and import refined petroleum products is very difficult to understand.

The Analogy

This situation reminds me of my learning experience at the Lagos Business School. Over the last few weeks, I observed that I have been struggling to meet the demands of the EMBA Programme. So many assignments to submit; so many reading materials to go through. We have lectures scheduled for Fridays and Saturdays, which occupy a huge chunk of our weekends. Combining the demands of work, school and other commitments was becoming overwhelming. Adding these to the challenges of erratic power supply, and poor-quality internet services, the situation was spinning out of control.

Defining the problems

After a particularly frustrating day of missing classes due to abysmally poor internet services, I decided to take a step back and re-evaluate what was happening to me. I chose to apply the principles from the course “Analysis of Business Problems” to the predicament I was facing. Following what we had learnt in class, I was able to articulate what the major problem was. I also proffered various options to solve the problems at hand. I evaluated each option using a set of criteria I had developed for this purpose. Using value-based judgement, I applied weighted criteria to the solutions I had proffered to solve the ongoing challenges.

Finding Solutions

After examining each option, I decided to do the following:

• Continue with my program at the Lagos Business School;
• Spend more time on self-care and treat myself with compassion;
• Dig in deep to find the resources to tide me over this challenging period;
• Look for ways to make myself happy while on the programme.

Conclusion

I realise now that the EMBA Programme is a marathon and not a sprint. To complete this programme successfully, I need to identify the different moving parts in my life. Each moving part will be given the care and compassion it needs to thrive. In the end, working as a team, we shall leave no one (no moving part) behind.

I dare say I have learnt a lot while on this programme. Could these principles be used to solve the problems in the country’s oil and gas sector? Perhaps the players in this industry need to undertake business management programmes at the Lagos Business School. Time will tell, as we wait to see what happens in the future.

The way forward

In the meantime, I desperately need to find more reliable internet service. My survival depends on it. I believe my lecturers at the Lagos Business School will be proud of my problem-solving techniques. #EMBA27