Petrol Price Hike: CISLAC Demands Accountability From NNPCL

Following the recent fuel price hike in the country, the Civil Society Legislative Advocacy Centre (CISLAC) has urged the Nigerian National Petroleum Company Limited (NNPCL) to be transparent and accountable in its activities.

The Executive Director of CISLAC, Auwal Ibrahim Musa, who made this call to the NNPCL in a press statement pointed out that the recent fuel price hike, coupled with the ongoing scarcity, has left millions of Nigerians facing severe hardships.

Musa further highlighted that the crisis has been further exacerbated by the revelation that the NNPCL is grappling with enormous debts, which have led to a significant reduction in fuel supply across the country.

“The reports indicating that the NNPCL owes both domestic and foreign petroleum suppliers approximately $6 billion are alarming.

“This financial strain has resulted in a slowdown of fuel supply, with some suppliers halting deliveries altogether. The ripple effects are already being felt, with escalating transport fares, increased costs of goods and services, and a thriving black market where fuel prices are significantly higher than official rates.

“The NNPC’s acknowledgment of these debts underscores the precarious state of Nigeria’s energy sufficiency plans.  As the sole importer of petroleum products, the NNPC’s inability to meet its financial obligations threatens not only the sustainability of fuel supply but also the broader economic stability of the nation.”

Amid these developments, CISLAC urged the government to address this crisis with the utmost urgency.”The NNPCL must provide a clear and transparent account of the current debt situation and the steps being taken to resolve it. The public deserves to know how these debts accumulated and what measures are in place to prevent further deterioration of the supply chain.

“Additionally, it is crucial that the government ensures the availability of fuel at official prices. The current scarcity and price hikes disproportionately affect low-income citizens, exacerbating poverty and inequality. Immediate action is needed to stabilize supply, reduce queues at filling stations, and prevent the further exploitation of Nigerians by black market operators.

“The situation also highlights the need for a comprehensive review of Nigeria’s energy policies, including the full utilization of local refineries such as the Dangote Refinery. Enhancing local production capacity is essential to reducing dependency on imports and ensuring a stable and affordable fuel supply for all Nigerians.

CISLAC also called on the government to prioritize the development of a sustainable fuel pricing mechanism that reflects market realities while protecting the most vulnerable. 

“This includes reconsidering the current subsidy arrangements and exploring alternative energy sources to reduce the nation’s reliance on imported petroleum products.

“As Nigerians endure these difficult times, it is imperative that the government demonstrates leadership by providing transparent communication, effective solutions, and a commitment to public welfare. The patience of the Nigerian people is not infinite, and they rightfully expect their leaders to act in their best interests.”

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