By Mercy Aikoye
The Nigerian Coalition of Civil Society Organizations (NICOCSO) convened a press conference today, November 19, 2024, to address the Nigerian National Petroleum Company Limited’s (NNPCL) decision to import 1.6 billion litres of Premium Motor Spirit (PMS).
According to the group, this move is seen as a deliberate attempt to undermine Nigeria’s local refining potential, cripple the economy, and worsen the hardship faced by ordinary Nigerians.
According to NICOCSO, the massive importation of PMS will put undue pressure on Nigeria’s foreign exchange reserves, exacerbating the depreciation of the Naira. This, in turn, will lead to higher inflation, making life harder for Nigerians as goods and services become increasingly unaffordable.
Moreover, the imported PMS is reportedly of substandard quality, damaging vehicles and increasing maintenance costs for millions of Nigerians. This is unacceptable in a country with abundant crude oil and refining potential.
NICOCSO criticized the NNPCL for perpetuating a cycle of dependency on imports, stifling local initiatives, and sabotaging job creation. Despite billions of dollars spent on refinery repairs, none of Nigeria’s three major refineries are operational today.
The coalition demanded accountability from the government and NNPCL, seeking a comprehensive account of the $20 billion spent on refinery repairs since 2007.
In a statement signed by the National spokesman NICOCSO, Tabuko Kennedy also called for operational timelines for refineries, an end to monopoly excuses, and immediate action from President Bola Ahmed Tinubu.
Specifically, the coalition urged President Tinubu to halt the importation of 1.6 billion litres of PMS, investigate the procurement process, and dismiss the NNPCL leadership responsible for this decision.
If these demands are not met, the group threatened to organize nationwide protests across Abuja and other states.
NICOCSO emphasized that Nigerians must rise to demand accountability, transparency, and policies prioritizing local industries.
The coalition remains committed to ensuring public resources are used in the interest of the people, calling on all Nigerians to join them in holding the NNPCL and its leadership accountable to demand a better future for the nation.
