Why Tinubu must stop importation of petroleum products into Nigeria, group shares details

• The Nigerian National Petroleum Company Limited (NNPCL) has been accused of deliberately undermining Nigeria’s local refining potential
• The Nigerian Coalition of Civil Society Organisations (NICOCSO) urged President Bola Tinubu to stop the huge importation of petrol
• The group said “NNPCL’s decision to import PMS on scale undermines the national interest and weakens the economy

Legit.ng journalist Adekunle Dada has over 7 years of experience covering metro, government policy, and international events

FCT, Abuja - President Bola Ahmed Tinubu has been urged to stop the huge importation of petroleum products into the country.

The Nigerian Coalition of Civil Society Organisations (NICOCSO) spokesperson, Segun Adebayo, said Tinubu needs to take action following the decision of Nigerian National Petroleum Company Limited (NNPCL) to import more than 1.6 billion litres of Premium Motor Spirit (PMS).

NNPCL is accused of deliberately undermining Nigeria’s local refining potential. Photo credit: Asiwaju Bola Ahmed Tinubu
Source: Facebook

As reported by Vanguard, Adebayo accused NNPCL of deliberately undermining Nigeria’s local refining potential.

He added that importation cripple the economy and deepen the hardship faced by ordinary Nigerians.

Adebayo stated while addressing newsmen in Abuja, the nation's capital on Tuesday, November 19.

The group urged the NNPCL to render an account of the 20 billion US dollars allegedly spent for the repair of refineries since 2007.

He also said that NNPCL must inform Nigerians of the date for the commencement of operations at the three major refineries in the country.

“We urge President Bola Tinubu to halt the importation of 1.6 billion litres of PMS and investigate the procurement process so as to ensure transparency.“NNPCL’s decision to import PMS on this scale undermines our national interest, weakens our economy, and delays the journey toward energy independence, and such decisions could undermine our future, if unchecked,’’

Why NNPCL allegedly refused to fix refineries

Meanwhile, Legit.ng reported that the Coalition for Economic Liberation and Transformation (CELT) accused NNPCL of refusing to fix refineries in the country.

The CELT’s Executive Director, Henry Owolabi, alleged that NNPCL is profiting from fuel importation.

Owolabi said the NNPCL fuel importation has rubbished the Central Bank of Nigeria (CBN)’s policies targeted at strengthening the Naira.

Source: Legit.ng