Labour Party Presidential Candidate Peter Obi has called on the federal government to provide clarity on the operations of the Nigerian National Petroleum Company Limited following a sudden fuel price increase from N600 to N855 per litre.
Obi took to X on Tuesday to criticize the secrecy surrounding NNPCL’s activities, particularly after the company reported a N3 trillion profit in 2023 but claimed financial constraints in supplying fuel.
He described the situation as an “insult to the intelligence of the Nigerian people” and demanded transparency in NNPCL’s operations, financial dealings, and future plans.
Obi also referenced the Petroleum Industry Act, which mandates openness and transparency in NNPCL’s operations.
The former Anambra State Governor attributed the fuel scarcity crisis to government ineptitude and called for accountability.
He urged Nigerians to continue demanding transparency in government agencies, especially critical ones like NNPCL.
“Nigerians must stop at nothing to continue their demand for 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 subsidies have left Nigerians in the dark, unsure of what is happening in such prime tax payer’s company.
“It’s utterly 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.
“This is an insult to the intelligence of the Nigerian people and a slap in the face of our suffering citizens.
“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’s struggles to secure crude oil supply and NNPCL’s search for outside operators for the refineries are further proof of this administration’s gross incompetence.
“We demand immediate transparency into NNPCL’s operations, financial dealings, and plans for the future. The Petroleum Industry Act mandates an open and transparent NNPCL, and we should not stand idly by while this government violates our laws and mocks our democracy.
“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.”
