Group alleges scandal in NNPCL ₦3tn fuel importation

Group alleges scandal in NNPCL ₦3tn fuel importation

Group alleges scandal in NNPCL ₦3tn fuel importation

Group alleges scandal in NNPCL ₦3tn fuel importation

The Coalition for Economic Liberation and Transformation (CELT) has alleged a staggering ₦3 trillion fuel importation fraud involving the Nigerian National Petroleum Company Limited (NNPCL) and its business partners.

Speaking at a press conference in Abuja on Friday, November 15, CELT’s Executive Director, Henry Owolabi, criticised NNPCL’s Group CEO, Mele Kyari, for favouring fuel imports over domestic refining.

Between October 1 and November 11, Nigeria imported 1.5 million metric tonnes of premium motor spirit, 414,018 metric tonnes of diesel, and 13,500 metric tonnes of aviation fuel.

Owolabi condemned this practice, citing the Dangote Refinery’s capacity to process 650,000 barrels of oil daily as a viable alternative.

“Kyari’s deliberate sabotage of our refineries is criminal,” Owolabi asserted, adding that the importation exacerbates Nigeria’s currency challenges.

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CELT claimed Kyari’s actions undermine President Bola Tinubu’s policies aimed at strengthening the naira through domestic crude sales to local refineries.

“This irresponsible importation compromises the naira and disrespects the President’s efforts to stabilise the economy,” Owolabi said.

The coalition urged the Central Bank of Nigeria (CBN) to halt further payments for fuel imports, demanding regulatory scrutiny into the financial and quality aspects of imported fuel.

“Kyari and his cronies should source their own foreign exchange if they insist on importing what we can produce locally,” CELT declared.

Calling for Kyari’s dismissal, CELT emphasised the need for transparency and accountability in NNPCL operations. The group also advocated prioritising domestic refining to ensure energy security, reduce costs, and promote economic growth.

“This scandal is a wake-up call for the government to invest in functional refineries and redirect funds towards critical sectors like healthcare and education,” Owolabi concluded.

Group alleges scandal in NNPCL ₦3tn fuel importation

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