Peter Obi Calls for Transparency from NNPCL Over Fuel Subsidy Payments

Peter Obi, the former Labour Party presidential candidate in the 2023 election, has urged Nigerians to demand transparency from the Nigerian National Petroleum Company Limited (NNPCL) regarding the true state of petrol subsidy payments. In a post shared on his X handle on Tuesday, Obi highlighted the inconsistencies in NNPCL’s reports, which have left Nigerians confused about the actual situation.

“Nigerians must stop at nothing in demanding transparency in the operations of government, especially critical agencies like the state-owned NNPCL whose activities appear to be shrouded in secrecy,” Obi stated. He pointed out that NNPCL, which declared a N3 trillion profit in 2023, has recently made a “bizarre claim of financial constraints” in supplying fuel, raising questions about the company’s management and financial dealings.

Obi also criticized the government’s handling of the fuel scarcity crisis, which has led to long queues and significant hardship across the country. He emphasized the need for greater transparency in NNPCL’s operations, in line with the requirements of the Petroleum Industry Act.

“We demand a better level of transparency in NNPCL’s operations, financial dealings, and plans for the future,” he said, urging Nigerians not to rest until the truth is uncovered and those responsible are held accountable.

This call for transparency comes amid speculations about the possible return of fuel subsidies, despite President Bola Tinubu’s announcement in May 2023 that subsidies would be discontinued. The situation has been further complicated by NNPCL’s recent admission of owing more than $6 billion to foreign suppliers, contributing to the recurring scarcity of Premium Motor Spirit (PMS) across the country.