By Mercy Aikoye
The Nigerian Coalition of Civil Society Organizations (NICOCSO) has strongly condemned the Nigerian National Petroleum Company Limited’s (NNPCL) decision to import 1.6 billion liters of Premium Motor Spirit (PMS).
This move is seen as an act of economic sabotage, undermining Nigeria’s economy and delaying its journey to energy independence.
According to NICOCSO, the massive importation will put immense pressure on Nigeria’s foreign exchange reserves, exacerbate the devaluation of the Naira, and increase inflation. This will make life harder for ordinary Nigerians, who are already struggling to make ends meet.
Furthermore, NICOCSO highlighted that the imported fuel is of poor quality, damaging vehicles and livelihoods. This is unacceptable for a country with abundant crude oil and refining potential. Despite investing over $20 billion in refinery repairs since 2007, Nigeria’s refineries remain inactive.
NICOCSO demands accountability from NNPCL and the government, seeking transparency on the $20 billion expenditure on refinery repairs. The coalition also urges NNPCL to provide timelines for refinery operations, cease monopolistic excuses, and promote competition.
The coalition calls on President Bola Ahmed Tinubu to take immediate action, halting the importation, investigating the procurement process, and removing responsible NNPCL leaders. If these demands are unmet, NICOCSO threatens to escalate nationwide protests.
To mobilize public support, NICOCSO announced nationwide rallies starting in Abuja on November 21, 2024, and expanding to other states on November 22. The rallies will take place in Taraba, Kano, Imo, Rivers, and Lagos states.
NICOCSO invites all Nigerians to join the demand for accountability, transparency, and policies supporting local industries. The coalition remains committed to ensuring public resources benefit every Nigerian.
In conclusion, NICOCSO’s stance is clear: prioritizing local refining and accountability over import dependency. By taking a firm stance, the coalition aims to safeguard Nigeria’s economic future and ensure that public resources are utilized for the greater good.
