Peter Obi, the Labour Party’s 2023 presidential candidate, has called on President Bola Tinubu’s administration to clarify the current issues surrounding the Nigerian National Petroleum Company Limited (NNPCL). Obi expressed concern over the ongoing fuel scarcity, recent price hikes, and the lack of transparency in NNPCL’s financial operations.
In a statement shared on his X handle, Obi criticized the administration for its failure to provide clear and transparent information about NNPCL’s activities and financial status. He emphasized that the Petroleum Industry Act requires NNPCL to operate with full transparency, and urged Nigerians to hold the government accountable for any deviations from this mandate.
Obi highlighted the confusion caused by conflicting reports regarding subsidy payments, which he said have left the public in the dark about the true state of the NNPCL. He pointed out that despite NNPCL’s reported N3 trillion profit in 2023, the company has recently claimed to be facing “financial constraints” in fuel supply.
The former presidential candidate also attributed the current fuel scarcity, marked by long queues and significant hardship for Nigerians, to what he described as governmental incompetence. He criticized the administration’s handling of the $20 billion Dangote Refinery and other modular refineries, which are struggling to secure crude oil supplies. This, along with NNPCL’s search for external operators for its refineries, underscores, in Obi’s view, the administration’s poor management and lack of effective oversight.
Written By: Blossom Kugbere.