Nigeria Oil Sector In Shambles – APC Stakeholders Write Tinubu

Some stakeholders within the ruling All Progressives Congress (APC), operating under the Tinubu Legacy Coalition (TLC), have urged President Bola Tinubu to dismiss the leaders of the nation’s oil and gas regulatory bodies.

The group berated leaders in the oil and gas regulatory bodies for their inability to effectively oversee the sector.

This appeal was articulated in a letter addressed to the president, co-signed by Hon Bala Abu, Convener/National President, Dr. Jeremmiah Okino, Co-Convener, Comrade Gabriel Gbana, Secretary, Dr. Thomas Terna, Princess Ajibola, along with 95 other signatories.

The party stakeholders called for the removal of Mele Kyari, Gbenga Komolafe, and Farouk Ahmed from their positions as heads of the Nigerian National Petroleum Company Limited (NNPCL), Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), respectively.

Among the concerns raised, the APC group highlighted the persistent fuel crisis leading to continuous queues at filling stations nationwide, as well as issues such as pipeline vandalism and oil theft, which they attribute to the shortcomings of Kyari and other officials in the oil sector.

Additionally, there are reports indicating that the refinery managed by the NNPCL in Rivers State has once again failed to initiate operations following multiple delays.

The group further claimed that the oil and gas sector’s contribution to the nation’s GDP has significantly declined, emphasizing that the country’s international reputation is suffering as a result.

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Part of the letter reads, “We are compelled to express our deep concern over the state of the nation’s oil and gas industry. Despite the sector’s potential to drive economic growth, it has been plagued by inefficiencies, corruption, and mismanagement.

“The continued stay in office of Mele Kyari, Engr. Gbenga Komolafe, and Farouk Ahmed has done more harm than good to the image of President Tinubu.

“The oil and gas sector is in shambles, with fuel scarcity, pipeline vandalism, and oil theft rampant.

“The sector’s contribution to the nation’s GDP has dwindled, and the country’s reputation has been tarnished.

“The lack of transparency and accountability in the sector has led to widespread corruption, with billions of dollars lost to fraudulent activities.”