NNPC Dismisses Protesters’ Demands for CEO Resignation
The Nigerian National Petroleum Company Limited (NNPCL) has rejected demands for the resignation of its Group Chief Executive Officer, Mele Kyari, amid nationwide protests over escalating petrol prices. NNPCL spokesperson Olufemi Soneye clarified that Kyari is not responsible for the price surge, explaining that it is due to increased importation costs rather than policy failure on Kyari’s part.
Spokesperson Addresses Public Misunderstanding
Soneye noted that the public may misunderstand the complexities of the oil sector, stating, “The GCEO is not responsible for the fuel price increase. In fact, he ensured prices remained at N620 per litre for over a year, despite rising import costs.” He urged the public to consider these factors before attributing blame to Kyari’s leadership.
Civil Groups Criticise Fuel Subsidy System
The protests, led by civil society organisations, targeted NNPCL’s Abuja headquarters, condemning what they termed a “fraudulent” subsidy system. Demonstrators argued that full deregulation would increase transparency, foster competition, and reduce the nation’s reliance on subsidies. They also highlighted the importation of substandard fuel, alleging it has damaged vehicles and affected livelihoods.
NNPCL Denies Importing Adulterated Fuel
In response to accusations of importing low-quality fuel, Soneye firmly denied these claims. “NNPC Ltd. does not import adulterated fuel. If anyone has evidence, they should present samples of such fuel imported by us,” he asserted, suggesting that external interests are attempting to undermine NNPCL’s goals.
Rising Fuel Costs Impact Nigerians
The current administration has seen petrol prices soar, intensifying economic pressures on Nigerians. According to the National Bureau of Statistics, petrol prices rose by 24% in September alone, reaching an average of N1,030 per litre. This increase has driven up transport and food costs, further contributing to the country’s inflation rate, which hit 32.7% in September.
NNPC’s Commitment to National Energy Security
Despite public criticism, NNPCL maintains its commitment to President Bola Tinubu’s energy security plan, which aims to stabilise and advance Nigeria’s oil sector. Soneye stated that Kyari remains focused on delivering results that support Nigeria’s energy needs, emphasising that recent protests will not deter these objectives.
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