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Some Nigerians in the diaspora, under the auspices of the Diaspora Good Governance Watch, have announced plans to lead protests over the $6.8bn owed to petrol suppliers by the Nigerian National Petroleum Corporation Limited.
The group led by a former House of Representatives candidate on the platform of the All Progressives Congress, Kolawole Akinmosu, said the protests are scheduled to take place in London and at the United Nations General Assembly in New York.
Akinmosu, in a statement on Thursday, lamented the alleged failure of the NNPC to address the myriad of challenges facing the industry, which he claimed, led to fuel scarcity, pipeline vandalism, and oil theft becoming the norm.
According to him, the ongoing fuel crisis in Nigeria has taken a devastating toll on Nigerian citizens.
“We are outraged by the Nigerian NNPC Ltd recent admission that it owes $6.8 billion to petrol suppliers, after initially denying any debt. The NNPC’s debt crisis is a result of years of inefficiencies, corruption, and mismanagement, which have led to fuel scarcity, pipeline vandalism, and oil theft becoming the norm.
“The lack of transparency and accountability in the sector has tarnished Nigeria’s reputation and led to billions of dollars lost to fraudulent activities.
“The initial denial of debt by the NNPC is a clear indication of an attempt to cover up and deceive the Nigerian people. This act of dishonesty has eroded trust and confidence in the NNPC and its leadership. It is unacceptable for a state-owned corporation to engage in such blatant deception,” Akinmosu said.
He added, “The sector’s contribution to the nation’s GDP has dwindled, and the country’s reputation has been tarnished due to lack of transparency and accountability, with billions of dollars lost to fraudulent activities.
“Furthermore, the industry is plagued by vested interests, with concerns over the importation of adulterated petroleum products, non-availability of crude oil for domestic refineries, and energy security concerns.”
The PUNCH reports that after weeks of denial, the NNPC admitted on Sunday that it owed its petrol suppliers the sum of $6bn, saying it was facing financial strains due to petrol supply costs.
In a statement by its Chief Corporate Communications Officer, Olufemi Soneye, the state-owned energy company subtly confirmed that the debt was the reason for the fuel queues in filling stations across the country, stating that it is impacting supply sustainability.
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