As hardship continues to affect Nigerian citizens, the rate at which the price increase in basic commodities and food items shoots, causes the common man on the streets to always want to cause.
Petroleum has been the only economic driver of Nigeria as almost every important needs of its people is solely dependent on it. Any slight increase in Premium Motor Spirit (PMS) price, causes an uprising in commodities like food stuffs, building materials, clothings, public transport fare, electronics, etc.
This has been a thing of worry since the very day fuel subsidy removal was announced. President Bola Ahmed Tinubu made the statement on May 29th, 2023 during his inaugural speech as the president elect of Nigeria. First, the PMS selling price per liter was 488 naira, but rose to 555 naira per liter at the pronouncement of the president. This decision he said was for the surplus benefits of Nigerians, as it was to prevent the country from going bankrupt, channel funds into other sectors including health, education, and national infrastructural developments.
Reactions From Nigerians
Many Nigerians never sounded happy at the President’s decision. They foresaw hunger, hardship, and suffering in days or years to come.
As predicted, the fear of its aftermath presently bangs loudly. It is clearly noticed, and the impact really sucks. To worsen the situation, fuel pump prices are never stable, as price regulators failed to prove effective due to secret reasons best known to them.
In the midst of this dilemma, questions erupted from different critical thinking minds on the fuel selling prices that holds the economic situation at all times. And as hardship became unbearable, the office of the Group Chief Executive Officer (GCEF), of the Nigerian National Petroleum Company Limited (NNPCL), occupied by Mele Kyari, was questioned, after speaking against the Dangote Refinery.
Many thought the emergence of Dangote Refinery will at least help in bringing the PMS price down to ease sufferings.
After several drama and accusations from both Dangote and the GCEF of NNPCL, and other marketers, Dangote refinery was sidelined on the right to fix a suitable pump price to sell to marketers to save the country from its ugly situation.
The Call For Resignation
On Thursday 8th November 2024, a group known as the Nigerian Coalition of Civil Society Organization carried out a protest, at the National Assembly complex, Abuja-Nigeria, and called for the immediate resignation and investigation into what they called alleged sabotage against every possible effort to achieve a turnaround in the 3 major petroleum refineries in the country.
The group made it clear that Mele Kyari, the Group Chief Executive Officer of the NNPCL steps down and that his management has caused great havoc to the local refineries. In the heat of the protest, the national spokesperson of the NCCSO group, Segun Adebayo asked president Bola Tinubu to really caution the leadership of NNPCL to avoid bad policies that can usher Nigeria further into the world if economic epilepsy.
He said:
“Despite Nigeria’s potential to refine fuel locally, vested interests within the NNPCL continue to impose Premium Motor Spirit 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, and this cabal profits from maintaining the status quo.”
“We must hold accountable those who prioritise 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.”
“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 authorise an investigation into this cabal’s activities within the fuel sector to uncover and expose any malicious manipulation or corruption.”
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