Authors : Okafor Ifeoma Nneka, Abada Ifeanyichukwu Michael, Tr. Omeh Paul Hezekiah and Ugwuanyi Ikedi John
Abstract: The evolution and emergence of man on the planet Earth has been pre-occupied with the notion of go, subdue and dominate the things in it. Man, despite the avalanche of resources bestowed has continued to be a helpless being. Nigeria being blessed with abundant deposit of fossil fuel has dominated her economy with importation of refined fuel products. This could be linked to ineffectiveness and the state becoming under serious captivity at the expense of the refineries, resulting to high dependence on importation of petroleum products in the midst of abundant oil endowment in Nigeria. It is based on this premise that the purpose and thrust of this study tends to appreciate and examine adequately the political economy of fuel importation and management of refineries in Nigeria. Methodologically, the study adequately utilized documentary method and content-analysis to generate and analyze data . However, the theoretical frame of the study was anchored on Marxian political economy as postulated by Karl Marx. Arising from the findings, the study revealed how the ruling class advanced the precepts of capitalism and served as agents of imperialism through the use of state power to pursue global recognition and self-enrichment. The study ethically recommended among others, encouragement of technical skills and mobilization of internal experts and endowments through state initiative for human oriented development in the oil sector in order to have sufficient petroleum products in Nigeria.
Okafor Ifeoma Nneka, Abada Ifeanyichukwu Michael, Tr. Omeh Paul Hezekiah and Ugwuanyi Ikedi John, 2019. The Political Economy of Fuel Importation and Management of Refineries for Sustainable Development in Nigeria: An Ethical Inquiry. Journal of Engineering and Applied Sciences, 14: 9894-9902.