By EricJames Ochigbo
Nigerian Coalition of Civil Society Organisations (NICOCSO) has called on Nigerian National Petroleum Company Limited (NNPCL) to render an account of the $20bn allegedly spent to repair refineries since 2007.
The News Agency of Nigeria (NAN) reports that the call came amid the coalition’s threat to embark on nationwide protests over the moribund state of the nation’s refineries and the continued importation of refined petroleum products.
The National Spokesperson for NICOCSO, Mr Segun Adebayo, addressed journalists yesterday in Abuja and stressed the need for accountability, transparency, and policies that prioritise local industries.
He said the call had become necessary following NNPCL’s decision to import more than 1.6 billion litres of Premium Motor Spirit (PMS).
According to him, the decision is not just a policy misstep but a deliberate move to undermine Nigeria’s local refining potential, weaken the economy, and deepen the hardship faced by ordinary Nigerians.
Adebayo said that a comprehensive account must be provided, as Nigerians deserved to know why refineries had remained dormant despite the enormous expenditures.
He also said that NNPCL must inform Nigerians of the date for the commencement of operations at the country’s three major refineries.
“Nigerians are the actual owners of these refineries; they deserve transparency on the management of the facilities.
“With the policy to encourage competition and local growth, NNPCL must step up action to support the operationalisation of local refineries.
“We urge President Bola Tinubu to halt the importation of 1.6 billion litres of PMS and investigate the procurement process 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,” Adebayo said.
He expressed the coalition’s commitment to ensuring public resources were used for the people’s interest.
“We call on all Nigerians to join us in holding the NNPCL and its leadership accountable for a better future of our nation,” he said.
According to Adebayo, importing 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,” he said.
He expressed regret that billions of dollars had been spent on repairing refineries for decades, yet the facilities were not functioning.
“None of Nigeria’s three major refineries are operational today; instead of supporting local refining, the NNPCL perpetuates a cycle of dependency on imports, stifling local initiatives and sabotaging job creation,” Adebayo stated.
