A group, the Mega National Movement, consisting of 19 youth groups, NGOs, and CSOs has expressed concern over the instability of the prices of petroleum products and called on the government to intervene.
Spokesperson of the group, Ibrahim Tijani; said at a press conference in Kaduna on Saturday, that they were saddened by the sudden scarcity of fuel, particularly in the Federal Capital and other major cities and towns in Nigeria.
The group alleged that the development may not be unconnected to moves by the Independent Petroleum Marketers of Nigeria (IPMAN) to hike fuel prices within the week.
The group said it was also worried by the mounting allegations of fraud, embezzlement, and corruption within the oil sector, adding that as a coalition of patriotic groups, they have identified allegations of significant irregularities within the sector including fuel subsidy scams, under-remittance of oil sales revenue, corruption, shady pipeline surveillance contracts and oil theft.
“These issues have had a collective detrimental effect on the majority of Nigerians while benefiting only a few greedy individuals, embezzlement, misappropriation of funds and fraudulent accounting practices.”
They said these actions not only undermine the sector’s financial stability but also have far-reaching consequences for stakeholders and the overall economy.
” Allegations of massive corruption and fraudulent diversion of billions of dollars to personal and cronies’ accounts must be thoroughly investigated,” they said.
According to the group, this lack of financial responsibility in the sector was unacceptable and raised serious questions about how things were done within the oil sector.
They therefore urged the government to look into oil production contracts and remittances to the Federation Account, as well as the transparency of pipeline surveillance contracts in line with global best practices.
“The Federal Government must take immediate action to address these issues and ensure that those responsible for corruption and embezzlement are held accountable. The Nigerian people deserve transparency, accountability, and leadership that prioritizes the country’s economic stability and the well-being of its citizens. It is crucial to address these allegations, conduct a thorough investigation, and prosecute those responsible for corruption and fraudulent practices.”
Source- Vanguard Newspaper.