NNPC building | File Image
CNPP: We have long argued that NNPCL’s practices have been harmful to the Nigerian economy
By Valentine Amanze
The Conference Of Nigeria Political Parties (CNPP) has said that the Nigerian National Petroleum Company Limited’s (NNPCL) release of N15 billion products to independent marketers validated its allegations of economic sabotage against NNPCL.
In a statement signed by its Deputy National Publicity Secretary, Comrade James Ezema, on Tuesday, the CNPP said that the move facilitated by the Director General of the Department of State Services (DSS), Adeola Ajayi, was to save Nigeria’s economy.
“We have long argued that NNPCL’s practices have been harmful to the Nigerian economy. The recent authorization by NNPCL, allowing oil marketers under the Independent Petroleum Marketers Association of Nigeria (IPMAN), to lift Premium Motor Spirit (PMS) at a reduced price substantiates our claims of economic sabotage against the federal government-owned oil company,” CNPP said.
As the umbrella body of all registered political parties and associations in Nigeria, the CNPP expressed concern over NNPCL’s ongoing violations of the Petroleum Industry Act (PIA).
The CNPP also called on the Nigerian Midstream and Downstream Petroleum Regulatory Authority to issue import and off-taker licenses to oil dealers, enabling them to import fuel directly or purchase from local refineries like the Dangote Refinery.
“This move is expected to eliminate NNPCL’s undue regulatory and competitive roles,” it said.
Besides, the CNPP called on the Federal Government to either fully deregulate the oil sector, allowing marketers to freely buy and sell petroleum products, or to implement a transparent petrol subsidy regime free from corrupt practices to maintain control over PMS pump prices.
“The DSS’s intervention came after IPMAN threatened to halt operations nationwide due to the high costs of loading petroleum products from NNPCL facilities.
“IPMAN revealed that the cost of petrol from the Dangote Petroleum Refinery to NNPCL was approximately N898 per litre, while NNPCL was selling it at significantly higher prices in various locations.
“This discrepancy is seen as a deliberate attempt by NNPCL to undermine President Bola Ahmed Tinubu’s Renewed Hope Agenda by exacerbating economic hardship and turning citizens against the government,” CNPP said.
Also read: Dangote refinery will not reduce petrol price – NNPCL
The CNPP, however, questioned why it took threats from IPMAN, which controls over 70 percent of filling stations nationwide, and DSS intervention before NNPCL complied with the law and stopped fixing petrol pump prices.
The CNPP also accused NNPCL’s leadership of attempting to maintain control over the oil industry post-commercialization due to endemic corruption.
It therefore pledged to continue monitoring the activities of NNPCL, given the company’s significant impact on the economy and the livelihood of ordinary citizens.
The CNPP assured that it would continue to advocate for transparency and accountability in the oil and gas sector as it has done over the years.
“Recall that in December 2022, the DSS had previously taken proactive measures to prevent potential unrest during the Yuletide season by issuing a 48-hour ultimatum to NNPCL, IPMAN, and other stakeholders to resolve the then ongoing fuel crisis, which has remained an issue to date as NNPCL has continued to operate in very secretive manner,” it said.
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