The Afenifere Youth Renewal Group has petitioned President Bola Tinubu regarding alleged efforts by vested interests to halt the supply of crude oil to local refineries.
In a statement signed by the group’s President, Chief Semiu Oriade, and Secretary General, Otunba Opeoluwa Ayeola, they warned that such actions could have serious economic consequences, including artificial fuel scarcity, rising pump prices, and widespread hardship for Nigerians.
Oriade emphasized that if left unaddressed, the disruption of crude oil supply could reverse the economic progress made under President Tinubu’s leadership, subjecting millions of Nigerians to economic difficulties.
He praised the President’s bold economic reforms, particularly the removal of the fuel subsidy, which he said has freed the economy from the grip of corrupt oil cartels.
“We write not only as concerned citizens but more as stakeholders who are deeply invested in the development, stability, and prosperity of our dear country. It is now abundantly evident that certain vested interests are actively and deliberately trying to thwart the excellent advancements of your administration by obstructing the supply of crude oil to local refineries,” the petition stated.
The letter continued, “This insidious plot, if not urgently curtailed, has the potential to erode the significant economic gains recorded under your leadership and plunge Nigeria back into the dark era of crippling fuel importation. Since its inception, it is believed that your administration has demonstrated a strong commitment to breaking the chains of economic enslavement that have long held our dear country hostage.”
The group lauded President Tinubu’s administration for the bold removal of the fuel subsidy, a decision they described as a landmark step towards economic liberation. “The audacious removal of the fuel subsidy; a long-standing albatross on the neck of our nation’s economy… is undoubtedly a landmark decision that signalled the dawn of economic liberation for Nigeria,” the letter stated.
The petitioners also accused certain elements, whose interests were disrupted by the President’s policies, of plotting to halt crude oil supply to local refineries. They claimed these individuals, motivated by selfish interests, were attempting to bring Nigeria back into an era of fuel importation, which would lead to higher petrol prices, hyperinflation, and further economic hardship for the nation.
“Their ultimate goal is to force Nigeria back into the era of fuel importation, thereby paving the way for a return to exorbitant petrol prices, hyperinflation, and economic hardship for millions of Nigerians. We believe that the deliberate strangulation of crude supply to our local refineries is not just an economic crime; it is a direct assault on the sovereignty of Nigeria as a self-sustaining oil-producing nation,” the petition emphasized.
The AYRG also highlighted Nigeria’s vast crude oil reserves, which, if properly managed, should position the country among the leading self-reliant petroleum producers in the world. However, they pointed out that years of corruption and sabotage had kept Nigeria dependent on imported fuel, despite its oil wealth.
The group expressed support for the President’s efforts to revive local refining capacity and eliminate the parasitic fuel import network. However, they warned that those benefiting from the old, corrupt system were attempting to undermine these reforms by sabotaging local refinery operations.
“These saboteurs, threatened by their loss of illicit profits, are hell-bent on reversing your policies by crippling local refining operations. Moreover, these individuals, who have long profited from the opaque and corrupt fuel subsidy regime, feel threatened by the removal of the subsidy. For decades, they have enriched themselves at the expense of the Nigerian people, siphoning billions of dollars meant for the development of our nation,” the petition said.
The Afenifere Youth Renewal Group called on President Tinubu to take swift and decisive action to address this issue and ensure the continued progress of his administration’s economic reforms.
