Suspend, Probe NNPCL Management – Analyst Advises Tinubu Amid Fuel Price Hike

Amidst Nigeria’s recent fuel price surge, public affairs analyst Sabo Muhammad has called on President Bola Ahmed Tinubu to suspend the management of the Nigeria National Petroleum Company Limited (NNPCL) and initiate a thorough investigation into the company’s affairs.

In an exclusive interview on Saturday, Muhammad expressed his concerns about the lack of a forensic audit of NNPCL’s accounts, highlighting allegations of financial mismanagement and operational inefficiencies. He criticized both the previous administration under Muhammadu Buhari and the current one for failing to address these issues adequately.

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EKO HOT BLOG reports that Muhammad urged President Tinubu to take decisive action by suspending NNPCL’s management, led by Mele Kyari, and appointing new leadership. He emphasized that despite promises of improved fuel storage and management, the situation has not improved, calling for a fresh perspective to resolve ongoing issues in the energy sector.

“The recent fuel price increase, compounded by economic hardships, has been highly insensitive. The government should rethink its strategy and intervene to ease the burden on Nigerians,” Muhammad stated. He argued that the current policies not only exacerbate public suffering but also provide ammunition for opposition criticisms.

Additionally, Muhammad criticized the government’s decision to make NNPCL the sole buyer of Dangote refined petrol, arguing that this move creates a monopoly that could be detrimental to the market.

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He believes this approach contradicts the principles of a competitive economy and could negatively impact the All Progressives Congress (APC) in future elections.

Muhammad called on President Tinubu to act swiftly to address these concerns, warning that failure to do so could result in significant political consequences for the ruling party.

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