Fuel Subsidy: Demand transparency from NNPCL — Peter Obi to Nigerians

Former Labour Party, LP, presidential candidate in the 2023 presidential election, Peter Obi, has called on Nigerians to demand transparency from the Nigerian National Petroleum Company Limited, NNPCL, over the true state of petrol subsidy payments.

In a post via his X handle on Tuesday, Obi said that NNPCL has so far presented ‘conflicting’ reports to Nigerians on subsidy.

“Nigerians must stop at nothing in demanding transparency in the operations of government, especially critical agencies like the state-owned NNPCL whose activities appear to be shrouded in secrecy.

“The conflicting reports on subsidy payments have left Nigerians in the dark, unsure of what is happening in this all-important company. It is very curious that the Nigerian National Petroleum Company Limited (NNPCL) which declared a N3 trillion profit in 2023, is coming up with a bizarre claim of “financial constraints” in supplying fuel.

“The fuel scarcity crisis, characterized by endless queues, and untold hardship, is a direct result of the government’s ineptitude. The $20 billion Dangote Refinery and other Modular Refineries’ struggles to secure crude oil supply and NNPCL’s search for outside operators for its refineries are further proof of this administration’s gross incompetence.

“We demand a better level of transparency in NNPCL’s operations, financial dealings, and plans for the future.

“The Petroleum Industry Act mandates an open and transparent NNPCL, we should not stand idly by while this government violates our laws. We demand that this administration come clean on these issues and take responsibility for the mess it has created.

“We should not rest until we uncover the truth and hold those responsible accountable. The Nigerian people deserve better,” he said.

This is coming amid speculations over the secret return of fuel subsidies after President Tinubu in May 2023, pronounced an end to it.

Similarly, the NNPCL recently admitted to owing foreign suppliers more than $6bn for products, a development many have attributed to the recurring scarcity of Premium Motor Spirit supplies across the country.

Fuel Subsidy: Demand transparency from NNPCL — Peter Obi to Nigerians