Conference of Nigeria Political Parties (CNPP) has expressed concern over President Bola Tinubu’s claim, during his maiden Presidential Media Chat, that his administration met its financial obligations without resorting to the Nigerian National Petroleum Company Limited (NNPCL) for funding.
The group said while the President’s claim seemed positive, it raised several critical questions that demand immediate and transparent answers.
In a statement in Kaduna, yesterday, the Deputy National Publicity Secretary of CNPP, James Ezema, explained that during the media chat, Tinubu urged Nigerians to believe in his government; that the administration, which is “just 18 months old, is on the right path and marks a glorious dawn” for Nigeria.
Tinubu had reportedly boasted, “Push me to my brag mode; in the last three months, I’ve not taken a penny from NNPC before I meet my other obligations; to me, that is excellent.”
Ezema stated, “While the CNPP acknowledges the President’s efforts to manage the nation’s finances, we are deeply concerned about the opacity surrounding this development. We question the President’s borrowing to finance the 2024 budget when there is revenue from crude oil with NNPCL.
“It does not make any business sense to resort to borrowing, especially given Nigeria’s increasing debt profile, when oil revenues are reportedly left in the coffers of NNPCL. This is particularly troubling at a time Nigerians are suffering from severe hunger and struggling to access necessities, while some are dying in their quest to access free food by public-spirited individuals.”
CNPP demanded a detailed explanation from Tinubu on the matter.
It stated, “We urge the President to clarify why he prefers borrowing over utilising available oil revenues. Further, we insist that the administration comes clean on the earlier revelation that Nigeria’s crude oil has been sold in advance. The details of this transaction, including the duration of the crude oil sales and the terms of the agreement with the buyers, must be disclosed to the public.
“Nigerians deserve to know the full extent of these financial decisions to appreciate the President’s efforts towards economic recovery, stability and growth as we approach the year 2025. Transparency and accountability are paramount in ensuring that the government’s actions align with the best interests of Nigerians.”
The political coalition called on Tinubu “to provide comprehensive information on these critical issues”, pointing out that “only through such transparency can the administration earn the trust and confidence of the Nigerian populace.”
