NNPC Speaks on Availing N620/litre Fuel as Protesters Storm Headquarter, Demand Kyari’s Resignation

• Protesters occupied the headquarters of the NNPCL demanding that Mele Kyari, the group chief executive officer resign from his position
• They claimed that millions of Nigerians were impoverished and that inflation was brought on by the long line and the skyrocketing price of petrol.
• The importation of adulterated fuel was condemned by them as a corrupt practice that harms citizens by damaging businesses and cars

Do not miss an opportunity to join FREE webinar by Legit.ng. AI in Action: Practical Skills for Creative Professionals. Register here!

Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.

On Monday, protesers stormed the Nigerian National Petroleum Company Limited offices, demanding that Mele Kyari, the company's group chief executive officer, leave immediately.

Barrister Napoleon Otache and Olayemi Isaac from Citizens and Economic Freedom Rights Activists in Nigeria, along with Abdullahi Bilal of the Two Million Man March Against Oil Scam Cabal, were among the irate youths who demanded that the country's oil sector be managed immediately.

Claims that the endless queue and the soaring cost of petrol had caused inflation and impoverished millions of Nigerians were at the heart of the demonstrations.

Additionally, The Punch reported that the protesters denounced the importation of aldulterated fuel, claiming that it is a corrupt practice that damages businesses and automobiles, thereby harming citizens.

The organization also expressed dissatisfaction over the billions of dollars spent on refinery development and facility renovations, criticizing the Dangote plant's unmet commitment to address Nigeria's fuel problem.

Speaking to journalists during the mass demonstration, Abdullahi Bilal said,

“The Two Million Man March stands as a united voice for every citizen who has been betrayed by a system that continues to enrich a few at the expense of many.

“Today, we call for the immediate resignation of the current leadership in the country’s oil sector. Their management has failed Nigerians.

“Under their watch, we have seen fuel prices skyrocket without consultation or consideration of the devastating impact on the people. We have endured fuel scarcity while substandard, adulterated fuel is imported, causing further hardship.

“We demand the complete removal of the fraudulent fuel subsidy regime that has only served to enrich a select few. Full deregulation is necessary to introduce transparency, competition, and fairness to our oil sector.”

NNPCL reacts

In response, NNPCL spokesperson Femi Soneye claimed that the demonstrators were ignorant about the industry.

He clarified that despite their protests, the GCEO made sure Nigerians could have fuel for more than a year at N620 per liter, despite that the landing cost exceeded N1,100.

Responding via a chat, Soneye said,

“Unfortunately, they lack understanding of the sector. If they were informed, they would know that the GCEO is not responsible for the fuel price increase; in fact, he ensured Nigerians had access to fuel at N620 per litre for over a year, even when the landing cost was above N1,100.”

Additionally, he asked the group to present evidence to back up their allegation that the national oil company is actively importing tainted fuel.

“NNPC Ltd does not import adulterated fuel. If anyone has evidence to the contrary, they should bring forward samples of any such fuel imported by NNPC.

New price list emerges in Lagos, Abuja

Legit.ng reported that due to the complete deregulation of the oil industry, Nigerians now purchase petrol at historically high costs, with pricing differing between cities and filling stations.

The country's cost-of-living crisis has been attributed primarily to the rising price of gasoline.

In addition to the price increases, the complete deregulation also means that prices differ between cities and even depending on who owns the gas stations.