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NNPCL’s Continuous Fuel Importation Threatening Economic Future – NICOCSO Warns
Joel Ajayi
The Nigerian Coalition of Civil Society Organisations (NICOCSO) has accused the Nigerian National Petroleum Company Limited (NNPCL) of sabotaging Nigeria’s economy by ordering over 1.6 billion litres of Premium Motor Spirit (PMS) into the country with the sole aim of strangulation local refineries.
Speaking during a press conference in Abuja on Tuesday, its national spokesperson Segun Adebayo, and the national coordinator of the group, Benjamin James, expressed dissatisfaction with the manner the NNPCL is discouraging local refineries from competing with their contemporaries abroad.
According to them, “Today, we gather to address a decision by the Nigerian National Petroleum Company Limited (NNPCL) that threatens the economic future of our nation.
“The decision to import over 1.6 billion litres of Premium Motor Spirit (PMS) is not just a policy misstep but a deliberate move to undermine Nigeria’s local refining potential, cripple the economy, and deepen the hardship faced by ordinary Nigerians.
“The importation of such an enormous volume of PMS places undue pressure on Nigeria’s foreign exchange reserves. With the Naira already struggling against major currencies, this decision will exacerbate the depreciation of our currency.
“A weaker Naira means higher inflation, making life harder for Nigerians as goods and services become increasingly unaffordable. The added cost of importing fuel undermines our goal of achieving energy independence while draining resources that could have been invested in local refineries”.They said it is alarming that the imported PMS is reportedly of substandard quality, damaging vehicles and increasing maintenance costs for millions of Nigerians.
“From taxi drivers to small business owners, this poor-quality fuel is wreaking havoc on livelihoods. This is unacceptable in a country with abundant crude oil and refining potential”.
Speaking further they lamented the betrayal of Nigerians’ trust by the oil regulatory body, saying for decades, billions of dollars have been spent repairing refineries, with numerous promises of functionality. Yet, none of Nigeria’s refineries are operational today, and instead of supporting local refining, the NNPCL perpetuates a cycle of dependency on imports—stifling local initiatives and sabotaging job creation.
NICOCSO demanded that the government and the NNPCL must provide a comprehensive account of the $20 billion spent on refinery repairs since 2007. Adding that Nigerians deserve to know why their refineries remain dormant despite these enormous expenditures.
Moreso, that NNPCL must set and announce a clear start date for operations at Nigeria’s three major refineries, queried that the people of Nigeria, as the true owners of these refineries, deserve transparency and a commitment to deadlines.
NICOCSO said while the NNPCL argues against monopoly in the industry, it enjoyed monopoly privileges for decades adding that with policies that could encourage competition and local growth, the NNPCL must step up and support the operationalization of local refineries.
“If these demands are not met, NICOCSO will organize nationwide protests across Abuja and other states. Nigerians must rise to demand accountability, transparency, and policies that prioritize local industries”, they said.
NICOCSO argued that NNPCL’s decision to import PMS on this scale undermines national interest, weakens the economy, and delays the journey toward energy independence.
“NICOCSO remains committed to ensuring that public resources are used in the interest of the people, and we call on all Nigerians to join us in holding the NNPCL and its leadership accountable. Together, we can demand a better future for our nation”, the group said.
News
Again, Chief Asaga Nwali commissions house for staff in Abakaliki
As the 2024, yuletide approaches, popular Abuja-based hotelier, philanthropist and CEO/MD of C-Sagas Group, Architect Chief Christian Asaga Nwali, PhD, has once again commissioned a house for one of his staff in Ebonyi State, in appreciation of his contributions to the successes of the company over the years.
Asaga, who holds the chieftaincy title of Ide Ji Ulo 1 of Izzi Nnodo, Uzochukwuwara 1 of Ekpelu Kingdom, Odozie-Obodo 1 of Ameka, Ikwo, gifted the building, a 4-bedroom bungalow with boy’s quarters, properly fenced with gate, to Engr Donatus Azunku (aka MTN), who hails from Abakaliki LGA of Ebonyi State, on Tuesday, November 19, 2024.
Speaking to our reporter on what prompted the magnanimity, Architect Asaga said, for over a decade, Azunku served as the dedicated Project Engineer of C-Sagas Group, “exemplifying unwavering commitment, humility and a willingness to learn.”
He said: “For me, the purpose of living is to make a profound and lasting impact on the people and environment surrounding me. Therefore, I strive to ensure that this impact is decidedly positive, transformative and continuous, leaving a ripple effect of goodness that resonates beyond my lifetime and creating a legacy of goodness that endures.
“To the glory of God, on behalf of C. Sagas Group, today being Tuesday, November 19, 2024, I am honoured to dedicate this magnificent home to Engr. & Mrs. Donatus Azunku and family. The truth is that, for over a decade, Engr. Donatus Azunku has served as our dedicated Project Engineer, exemplifying unwavering commitment, humility and a willingness to learn.
“Therefore, as I officially commission this beautiful house today, I pray that Almighty God will continue to bless his family abundantly. May this home be filled with love, joy, and prosperity and may your family be blessed beyond measure in Jesus’ Name. Amen.”
Architect Chief Christian Asaga Nwali is particularly popular for having the interest of his staff, family and those around him at heart, whether in Enugu, Abakaliki or Abuja, apart from also lifting numerous people from poverty by establishing businesses or building houses for them.
Dr. Christian Asaga Nwali has in his employment over 1,000 Nigerians in his establishments like Cirenes Hotels in Kpiri-Kpiri, Abakaliki, Exclusive Serene Hotel and Suites in New Haven, Enugu and Exclusive Serene Hotel and Suites in Wuye, Abuja and C.Sagas Luxury Homes Ltd.
He has also been taking in his stride scholarship programs and marriage sponsorship of his employees, among others.
It is an annual culture for the hotelier to distribute cars to his staff and those around him. In 2019, be bought and distributed 8 cars to members of his staff.
Again, in December, 2023, Architect Asaga Nwali, also distributed exotic cars to his staff in Ebonyi State, in appreciation of their contributions to the successes of the C-Sagas Group.
In March, this year, the C-Sagas Group built and donated a church building to Deeper Life Bible Church (DLBC), Ameka, Ikwo, Ebonyi State.
Many beneficiaries of his magnanimity are presently thanking the hotelier for lifting them from poverty in different ways.
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