• Transparency Accountability for Development Initiatives (TADI) has advised President Bola Ahmed Tinubu on solutions to rising fuel prices.
• He called on President Bola Ahmed Tinubu to sack leaders of Nigeria’s oil sector over the country’s oil crisis.
• He said this in reaction to the latest increase in fuel price by the National Petroleum Company Limited (NNPCL) from N895 to N1,030.

Zainab Iwayemi’s legitimate journalist has over 3 years of experience covering economics, technology and capital market.

President Bola Ahmed Tinubu has been urged by the Transparency Accountability for Development Initiatives (TADI) to fire directors of the Nigerian oil industry due to the oil crisis rocking the country.

TADI Head of Research and Program Public Relations, Adeniran Taiwo, responded in Abuja at the weekend to the recent increase in fuel prices of the National Petroleum Company Limited (NNPCL) from N895 to N1,030.

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Taiwo also urged President Bola Ahmed Tinubu to intervene and alleviate the suffering of Nigerians.

He acknowledged that institutional corruption had left Nigeria grappling with a persistent fuel crisis and crushing debt, but he also said heads needed to roll to clean up the system.

He said that to attract new talent that could save the economy, the president must free all oil industry officials from their responsibilities.

The TADI president said in a Daily Trust report that this is a wake-up call to all Nigerians facing unimaginable levels of daily adversity.

“From the soaring cost of fuel to the relentless inflation that has made even basic commodities unaffordable. Citizens are suffering, households and businesses are being pushed to their limits, and the most vulnerable are bearing the brunt of this mismanagement within the NNPCL.

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“The fuel crisis has depleted the country’s resources and eroded public confidence in the government’s ability to alleviate hardship.

“The government has failed in its responsibility to provide transparent and effective leadership, and the consequences of this incompetence are felt by all Nigerians who are struggling to cope with the rising cost of living and fuel shortages.

The Dangote refinery does not help matters

Taiwo noted that even the Dangote refinery, which the public hoped would improve the oil supply situation, failed.

Instead of experiencing respite, Nigerians continue to see increasing spending and minimal progress in addressing the systemic problems plaguing our energy industry.

“Despite billions of dollars allocated to rehabilitate Nigeria’s refineries, no refinery is operational today. The economic repercussions of this mismanagement are devastating.

“In September 2024, Nigeria’s inflation rate soared to 24.5 percent, putting a strain on the daily lives of Nigerians. Over the same period, fuel prices have increased by more than 150 percent, placing an even greater burden on citizens already struggling with high costs of living.”

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FG mobilizes to relieve Nigerians

Legitime.ng reported that the President’s Compressed Natural Gas (CNG) Initiative has begun distributing 1,000 vehicle conversion kits in various states to help mitigate the effects of the removal of fuel subsidies.

At a press briefing in Abuja to announce the start of the distribution, program director Michael Oluwagbemi stressed that the initiative is expected to reduce transport costs.

It would be recalled that President Bola Tinubu had launched the Compressed Natural Gas (CNG) initiative to fuel vehicles at a rate of N230 per liter in a bid to provide Nigerians with a more affordable and sustainable alternative to petrol and diesel.

Source: Legit.ng