FUEL PRICE WOES: GROUP DEMANDS RADICAL OIL SECTOR REFORMS, THREATENS MASS ACTION
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A civil society organization, Transparency Advocacy for Development Initiatives (TADI), has called for radical reforms in the oil sector due to the persistent fuel price crisis in Nigeria.
TADI’s demand came as Nigerians struggled with rising living costs.
The group cited the sector’s failure to resolve the crisis, despite accumulating a $6.8 billion debt to petrol suppliers.
According to the organization, this debt has resulted in relentless fuel shortages and inflated pump prices.
TADI’s Programs, Research, and Public Relations Officer, Adeniran Taiwo, briefed journalists in Abuja yesterday, highlighting the devastating impact of the crisis.
He noted that Nigeria’s inflation rate has surged to 24.5%, with fuel prices increasing by over 150% as of September 2024.
Taiwo explained that this situation has placed an overwhelming strain on households and businesses.
The group emphasized unfulfilled promises to rehabilitate the nation’s refineries, with deadlines repeatedly shifted.
TADI demanded a full public audit of these funds and a transparent investigation into their misuse.
Consequently, the group announced plans to stage a mass protest from October 17-18 to press for radical changes and reforms, noting that the fuel price crisis has eroded public confidence in the government’s ability to alleviate hardship.
The proposed reforms aim to address structural issues plaguing Nigeria’s energy sector and provide relief to citizens.
The federal government has yet to respond to TADI’s demands.
Taiwo stated, “The time for deception is over—Nigerians demand accountability and real leadership now! Nigerians have been deceived for too long, exacerbating the fuel crisis, driving the country deeper into debt, and allowing corruption to thrive.
“This is no longer simply a matter of incompetence; it is a betrayal of the trust and hopes of the Nigerian people. The continued failure has led to unbearable levels of hardship, with skyrocketing fuel costs and unrelenting inflation making even the basics of life unaffordable.
“We demand change now. It is time for a new era of transparency, accountability, and competence. We will no longer tolerate broken promises, gross mismanagement, and systemic corruption.
“We will take action to demand change. From October 17-18, we will come together to press for radical reforms and solutions to Nigeria’s fuel crisis and economic challenges.”
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