By Editor
ABUJA, Nigeria — In a demonstration at Nigeria’s National Assembly Complex, Abuja, on Friday, a coalition of civil society organisations under the Nigerian Coalition of Civil Society Organisations (NICOCSO) called for the immediate sacking of the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari. Claiming his management and policies are not only harmful to the country’s refinery sector but also exacerbate Nigeria’s economic challenges, the coalition demanded immediate reforms, a shift in the NNPCL’s business strategy, and accountability.
Led by spokesperson Segun Adebayo, the protesters—armed with banners, placards, and a renewed sense of determination—marched to the National Assembly to deliver a scathing critique of the current state of Nigeria’s oil sector under Kyari’s leadership. The protest marks the latest in a series of outcries from civil society, industry observers, and economic experts who view NNPCL’s policies as emblematic of a deeper, systemic problem. With demands for transparency and reform growing louder, the situation raises pertinent questions about the direction of Nigeria’s energy policy, economic autonomy, and the role of powerful stakeholders within the NNPCL who stand accused of hindering Nigeria’s path to self-sufficiency.
The Heart of the Protest: Accusations Against Mele Kyari and NNPCL
Segun Adebayo, national spokesperson for NICOCSO, condemned Kyari’s management of the NNPCL, arguing that his policies prioritise profit over national progress. According to Adebayo, “NNPCL has persistently prioritised the importation of Premium Motor Spirit (PMS) over local refining, undermining the country’s potential to develop a self-sustaining refinery system.” He expressed frustration over what he described as “a systematic entrenchment of import dependency that costs Nigeria billions of dollars in foreign exchange each year.”
For years, Nigeria has relied heavily on imported fuel due to the abysmal state of its refineries, which operate at an average of less than 30% capacity. Despite assurances from successive administrations that domestic refineries would be revived, Nigeria remains dependent on fuel imports, with fluctuating global oil prices wreaking havoc on the economy. The NICOCSO protest taps into this frustration, suggesting that NNPCL’s import-focused policies are a deliberate act of “sabotage,” perpetuating a status quo that benefits a select few within the oil sector at the expense of the Nigerian populace.
Adebayo painted a stark picture of the consequences of NNPCL’s strategy, highlighting the impact on ordinary Nigerians who, he claims, are “forced to endure the ripple effects of currency devaluation and global oil price volatility while the cabal within the NNPCL profits.” His statements reflect a long-held grievance in Nigeria that oil sector reforms are merely symbolic, with genuine efforts to drive local refining suppressed by powerful interest groups that benefit from Nigeria’s dependence on imported fuel.
Dangote Refinery: A Game-Changer or Another Missed Opportunity?
The protesters also referenced the much-anticipated Dangote Refinery, a private project led by industrialist Aliko Dangote, which was expected to transform Nigeria’s oil landscape by providing a viable domestic refining option. Costing an estimated $19 billion, the Dangote Refinery is positioned to be Africa’s largest refinery and one of the largest in the world, with the capacity to refine up to 650,000 barrels per day. However, NICOCSO believes that instead of supporting such initiatives, NNPCL’s “cabal” has created barriers, effectively curbing the potential for local refining.
“The Dangote Refinery represents a transformative opportunity for energy independence and economic growth,” Adebayo argued. “Yet, the NNPCL leadership has hindered these efforts, choosing instead to maintain harmful policies that deter investors, limit job creation, and trap Nigeria in economic dependency.”
Industry analysts have highlighted that once operational, the Dangote Refinery could significantly reduce Nigeria’s import dependency, stimulate job growth, and stabilise the local economy. However, NICOCSO asserts that NNPCL’s preference for foreign imports of PMS is an obstructionist move aimed at preserving the profits of vested interests within the company. The implications of such resistance, they argue, could further erode investor confidence and deepen Nigeria’s economic struggles.
“Sell Crude in Naira, Not Dollars!”—A Revolutionary Policy Proposal
In a radical policy proposal, the group’s national coordinator, Benjamin James, called on the government to sell Nigerian crude oil to local refineries in naira rather than in foreign currency. “This critical shift would cut down foreign exchange losses, strengthen the naira, empower local businesses, and send a strong message that Nigeria is committed to prioritising its local economy and protecting its currency,” James stated passionately.
James emphasised that the current policy of dollar-denominated crude sales drains Nigeria’s forex reserves and contributes to the devaluation of the naira. Selling crude in naira, he argued, would be a crucial step towards building a resilient domestic economy. This proposed shift echoes demands from other economic reform advocates who see local currency-denominated transactions as a path to economic sovereignty. If adopted, the policy could disrupt established economic norms, directly challenge international oil market players, and spark a new wave of “resource nationalism” in Nigeria.
The proposal to mandate crude sales in naira underscores NICOCSO’s larger argument that Nigeria needs bold reforms to escape the economic stranglehold imposed by a dependency on dollar transactions. Such a move, if embraced by President Bola Tinubu’s administration, would mark a historic shift in Nigeria’s energy policy and potentially pave the way for other resource-rich African nations to explore similar policies.
The Coalition’s Ultimatum to the Government: “Sack Kyari or Face Nationwide Protests”
A powerful warning resonated through the protest as Adebayo announced NICOCSO’s ultimatum: if the government does not act swiftly to replace Kyari and reform NNPCL policies, they would rally protests across Nigeria’s 36 states. “Our representatives must stand with the Nigerian people,” Adebayo declared. “We call for the immediate removal of Mele Kyari as Group Chief Executive Officer of NNPCL.”
The threat of a nationwide protest adds a new layer of urgency to the coalition’s demands. Nigeria has witnessed waves of civil unrest over economic hardships in recent years, from the #EndSARS protests to demonstrations against fuel subsidies. NICOCSO’s call for a nationwide protest could further inflame public sentiment, particularly if rising inflation and fuel prices continue to strain the populace.
The coalition’s demand that “President Tinubu authorises an investigation into the alleged cabal within the NNPCL” reflects an escalating distrust of the institution and its leadership. There is a palpable sense among NICOCSO and similar advocacy groups that if left unchecked, the influence of powerful players within NNPCL will continue to undermine national prosperity. By focusing on transparency, reform, and accountability, the coalition seeks to redefine the oil industry’s legacy in Nigeria from one of exploitation to one of empowerment.
President Tinubu’s Options: Reform, Remove, or Risk Political Fallout?
As NICOCSO intensifies its call for reform, President Bola Tinubu faces a critical decision on whether to back Mele Kyari or accede to public pressure and initiate sweeping changes within the NNPCL. A decision to replace Kyari would send a powerful message that Tinubu is serious about reforming Nigeria’s oil sector, but it also risks destabilising an industry known for its deep-rooted networks of influence and power. Conversely, failing to address the coalition’s concerns may fuel a sense of disenfranchisement among Nigerians, potentially affecting Tinubu’s public approval.
In a political landscape where optics and public opinion hold considerable weight, Tinubu’s handling of this crisis may define his administration’s commitment to economic reform. Analysts note that aligning with NICOCSO’s demands would resonate positively with Nigerians weary of economic mismanagement, yet a hasty decision to remove Kyari could alienate vested interests within the oil sector and strain Tinubu’s alliances.
The Call for a New Era in Nigeria’s Oil Industry
The NICOCSO protest encapsulates a growing dissatisfaction with the current management of Nigeria’s oil sector and a broader call for economic sovereignty. Accusations of sabotage, the rallying cry for economic independence, and demands for a naira-based crude sale policy speak to the coalition’s vision of a self-reliant Nigeria. At the heart of the protest is a plea for leadership that prioritises Nigerian interests over corporate gains and a belief that the NNPCL must undergo radical reform.
Whether Tinubu will heed NICOCSO’s call and initiate the changes demanded remains to be seen. What is clear, however, is that the coalition’s protest has ignited a conversation that transcends the walls of the National Assembly and touches on the very fabric of Nigeria’s economic future. As NICOCSO vows to continue its advocacy, the Nigerian government faces a pivotal moment—one where it must choose between the path of reform or a dangerous road of continued economic dependency. The decision will not only impact the oil sector but will define the broader narrative of Nigeria’s journey toward self-sufficiency, resilience, and a reclaimed destiny in the global economy.
With reporting from Peter Jene, Atlantic Post Senior National Correspondent.
