In a storm of controversy, Mele Kyari, the Group CEO of the Nigerian National Petroleum Company Limited (NNPCL), faces scrutiny following accusations by the Coalition for Economic Liberation and Transformation (CELT) over a ₦3 trillion fuel importation scandal. This news has sparked public outrage, with CELT demanding an urgent investigation into the NNPCL’s handling of fuel imports amidst Nigeria’s economic struggles.
The Allegations
CELT has raised concerns that between October and November 2024, NNPCL imported an estimated 1.5 million metric tonnes of petrol, 414,018 metric tonnes of diesel, and 13,500 metric tonnes of aviation fuel. CELT’s Executive Director, Henry Owolabi, claims these transactions defy recent policy directions aimed at strengthening Nigeria’s economy through local refining. CELT alleges that the heavy reliance on imports when local refining capabilities are rising, such as with the Dangote Refinery, undermines President Bola Tinubu’s economic policies and adds pressure on the naira.
“Kyari’s deliberate sabotage of our refineries is criminal,” Owolabi stated. “By choosing imports over domestic refining, we’re worsening the currency crisis and dishonouring the President’s economic goals,” he added.
Call for Central Bank Intervention
CELT also called on the Central Bank of Nigeria (CBN) to halt further payments to fuel importers, urging the CBN to conduct a regulatory review of NNPCL’s import expenses. The coalition argues that prioritising locally produced fuel would reduce dependency on foreign exchange, which has become a burden on the Nigerian economy.
“If Kyari and his partners insist on importing, they should be required to secure their own foreign exchange. The CBN must step in to safeguard our economy,” CELT declared, pressing for a thorough review of NNPCL’s financial operations.
Demand for Greater Accountability
The CELT coalition has not only demanded Kyari’s dismissal but also called for reforms that prioritise transparency and reduce reliance on fuel imports. Advocating for the full operationalisation of local refineries, CELT stressed that investments in refineries could channel funds towards critical sectors, such as education and healthcare.
Government’s Response
This recent scandal highlights the complex dynamics of Nigeria’s fuel supply and refining sector, as the government and NNPCL balance economic needs with policy priorities. The President’s administration has prioritised economic stability, but incidents like these may compel a deeper examination of the governance surrounding Nigeria’s energy imports.