Hundreds of protesters under the aegis of Nigerian Coalition of Civil Society Organisations (NICOCSO), on Friday, staged peaceful protest at the entrance leading to the National Assembly complex in Abuja, calling on President Bola Tinubu to end importation of Premium Motor Spirit (PMS) into the country.
The protesters who chanted various solidarity songs, displayed placards inscriptions: ‘Sell our crude in naira, empower local refineries’; ‘Sack Kyari now’; ‘Prove NNPCL and the cabal sabotaging local refineries’; ‘Nigeria deserves better from NNPCL’; ‘Local Refineries = jobs for Nigerians’; ‘Stop sabotaging Dangote Refinery’; NNPCL and Mele Kyari stop mortgaging Nigeria’s Future’; ‘Cabal profits over people! Enough is enough’; Local Refineries = a stronger economy’, among others.
Speaking during the protest, the Group National Coordinator, Mr. Segun Adebayo who argued the illicit activities of the canal in the oil industry “threaten our nation’s economic future and sovereignty. We are here to raise urgent concerns about the group within the Nigerian National Petroleum Company Limited (NNPCL), led by Mele Kyari, whose policies jeopardize our economic stability by prioritizing imported Premium Motor Spirit (PMS) over local refining.
“This group’s profit-driven approach burdens our economy, drains our foreign reserves, weakens the Naira, and obstructs local initiatives designed to support energy self-sufficiency and job creation.”
While speaking on the high cost of fuel importation and its devastating economic impact, he lamented that: “despite Nigeria’s potential to refine fuel locally, vested interests within the NNPCL continue to impose PMS importation on Nigeria.
“This unnecessary import dependency costs Nigeria billions in foreign exchange every year, placing our economy under enormous strain. Meanwhile, the people bear the brunt of fluctuating global oil prices and currency devaluation, all while this cabal profits from maintaining the status quo.
“We must hold accountable those who prioritize personal gain over national prosperity. They are frustrating the nation’s move toward self-sufficiency, ensuring that Nigeria remains exposed to the volatility of the international oil market. This is unacceptable and unsustainable for a nation as richly endowed with natural resources as ours.”
Speaking on the allegations bothering on sabotage of local refining ventures and investment, Mr. Adebayo said: “It is no secret that Nigerian industrialists, such as Aliko Dangote, have invested heavily in local refineries to curb Nigeria’s reliance on imported fuel. The Dangote Refinery represents a transformative opportunity for energy independence and economic growth.
“However, instead of supporting these efforts, the cabal at the NNPCL has actively hindered local refinery operations, prioritizing imported PMS and discouraging local refining. This calculated sabotage deters investors, limits job creation, and keeps Nigeria locked in economic dependency.
A Call for Immediate Presidential Intervention
“We call upon His Excellency, President Bola Ahmed Tinubu, to take decisive action to address this troubling issue. We know President Tinubu loves Nigeria and wants the best for Nigeria hence we urge him to caution the NNPCL leadership, led by Mele Kyari, to avoid policies that could lead Nigeria into further economic crises. The President should immediately authorize an investigation into this cabal’s activities within the fuel sector to uncover and expose any malicious manipulation or corruption.
“For Nigeria to realize its ambition of a self-sustaining economy, this group’s exploitative grip on the fuel sector must end. Only through a transparent probe and strict accountability can we remove these obstacles to local refinery success and national economic stability. We implore the President to enact reforms that will bolster the local refining industry and free Nigeria from dependence on imported fuel.”
On his part, NICOCSO National Spokesperson, Mr. Benjamin James who expressed the Coalition’s support for Federal Government’s policy on sale of crude to local refineries in naira, averred that: “One critical policy shift we advocate for is mandating that Nigerian crude oil be sold to local refineries in Naira rather than in dollars. This change would significantly reduce our foreign exchange losses, empower local businesses, and protect the Naira.
“A shift to selling crude oil domestically in Naira would also send a strong message that Nigeria is serious about prioritizing its local industries and economic sovereignty.
“Such a policy will empower local investors, encourage growth in the refinery sector, create jobs, and reduce fuel prices domestically. It will strengthen Nigeria’s economy and make us more resilient to external economic pressures. The time has come for Nigeria to take ownership of its resources and ensure that our natural wealth benefits the Nigerian people rather than a select few.”
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