The Afenifere Youth Renewal Group (AYRG) has expressed concerns over an alleged plot by vested interests to obstruct the supply of crude oil to local refineries.
According to the group, this obstruction could have severe economic implications for Nigeria, including artificial scarcity of petroleum products, skyrocketing pump prices, and economic hardship for millions of Nigerians.
In a letter co-signed by Chief Semiu Oriade and Otunba Opeoluwa Ayeola, its President and Secretary General, the group, Wednesday, said this sinister plot, if left unchecked, would erode the significant economic gains recorded under President Tinubu’s leadership and subject millions of Nigerians to economic hardship.
The Afenifere group praised President Tinubu’s administration for its bold economic reforms, particularly the removal of the fuel subsidy, which has liberated the economy from the stranglehold of corrupt oil cartels.
However, the group warned that the actions of these saboteurs within the Nigerian National Petroleum Corporation (NNPC) threaten to undo this progress and urged the President to take swift and decisive action.
“This insidious plot, if not urgently curtailed, has the potential to erode the significant economic gains recorded under your leadership and plunge Nigeria back into the dark era of crippling fuel importation,” they said.
“Since its inception, it is believed that your administration has demonstrated a strong commitment to breaking the chains of economic enslavement that have long held our dear country hostage.
“The audacious removal of the fuel subsidy; a long-standing albatross on the neck of our nation’s economy as for decades lined the pockets of a privileged few at the expense of national progress, is undoubtedly a landmark decision that signaled the dawn of economic liberation for Nigeria.
“Your efforts in dismantling this fraudulent subsidy regime has liberated our economy from the stranglehold of corrupt oil cartels who, under the guise of serving the nation, have siphoned trillions of naira into private coffers while keeping Nigeria dependent on imported petroleum products.
These individuals, according to the group are driven by selfish interests and a desire to maintain their stranglehold on the nation’s resources.
The group noted that the ultimate goal is to force Nigeria back into the era of fuel importation, thereby paving the way for a return to exorbitant petrol prices, hyperinflation, and economic hardship for millions of Nigerians.
“We believe that the deliberate strangulation of crude supply to our local refineries is not just an economic crime; it is a direct assault on the sovereignty of Nigeria as a self-sustaining oil-producing nation.
“This country is abundantly blessed with crude oil reserves that should place us among the leading self-reliant petroleum producers in the world. Yet, due to years of systemic sabotage, corruption, and vested interests, Nigeria was forced to endure the humiliation of exporting crude oil only to buy it back at exorbitant prices as refined fuel.
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“Your Excellency, we are heartened that your administration’s economic vision has come a long way in putting an end to this absurdity by reviving our refineries, ensuring local refining capacity is maximized, and cutting off the parasitic network of fuel importers who have, for decades, profited at the detriment of national prosperity.
“But rather than embrace the future of a self-sufficient Nigeria you are creating, these saboteurs, threatened by their loss of illicit profits, are hell-bent on reversing your policies by crippling local refining operations.
“Moreover, these individuals, who have long profited from the opaque and corrupt fuel subsidy regime, feel threatened by the removal of the subsidy. For decades, they have enriched themselves at the expense of the Nigerian people, siphoning billions of dollars meant for the development of our nation.”
The group urged Tinubu to take swift and decisive action to address the issue.
It recommended conducting a comprehensive investigation into the activities of the NNPC, mandating the uninterrupted supply of crude to local refineries, engaging stakeholders in the oil and gas sector, and communicating with the public on the steps taken to address the issue.
