A group of Nigerians living abroad, organized as the Diaspora Good Governance Watch, have announced intentions to stage protests regarding the $6.8 billion debt owed by the Nigerian National Petroleum Corporation Limited to petrol suppliers. The group, led by a former House of Representatives candidate, plans to hold demonstrations in London and at the United Nations General Assembly in New York.
The group expressed dissatisfaction with the NNPC’s handling of industry challenges, which they believe has resulted in fuel scarcity, pipeline vandalism, and oil theft becoming common occurrences. They highlighted the toll that the ongoing fuel crisis has taken on Nigerian citizens.
The group criticized the NNPC for initially denying the debt to petrol suppliers, only to later admit to owing $6.8 billion. They attributed the corporation’s debt crisis to years of inefficiencies, corruption, and mismanagement, which have negatively impacted the sector and tarnished Nigeria’s reputation.
The lack of transparency and accountability within the industry has led to significant financial losses due to fraudulent activities. The group emphasized the importance of transparency and honesty within the NNPC to restore trust and confidence in the corporation and its leadership.
Concerns were also raised about the industry’s declining contribution to the nation’s GDP, the tarnishing of Nigeria’s reputation, and challenges such as the importation of adulterated petroleum products, lack of domestic crude oil for refineries, and energy security issues.
Following initial denials, the NNPC eventually acknowledged its $6 billion debt to petrol suppliers, citing financial strains due to petrol supply costs. The state-owned energy company confirmed that the debt was impacting fuel supply sustainability and causing fuel queues at filling stations nationwide.