The Coalition for Energy Reforms and Good Governance Advocacy has accused the Nigerian government of deliberately inflating fuel prices through hidden charges and taxes. The coalition claims that the price of Premium Motor Spirit (PMS) has skyrocketed from ₦568 to ₦1,075 within a year due to these illicit practices.
Yakubu Dauda, the convener of the coalition, briefed journalists in Abuja yesterday, emphasizing the severity of the situation. He highlighted the urgent need for transparency and accountability in the petroleum sector, as rising fuel prices continue to burden ordinary Nigerians.
Dauda pointed out that the government’s failure to prioritize investments in local refineries has led to a heavy reliance on imported fuel products, which further exacerbates the crisis. He stated, “This dependence on imported fuel is unsustainable and benefits only a select few.”
In response to these issues, the coalition is calling for a comprehensive audit of the petroleum sector’s operations, focusing on allegations of corruption and unnecessary charges. They are also urging the government to invest in local refineries to reduce reliance on imported fuel.
Dauda remarked, “Leadership has failed to deliver on promises to improve the Nigerian petroleum sector. Instead of addressing the core challenges, the administration has exacerbated the problems through a combination of poor policy choices, corruption, and inefficiency. The failure to revive local refineries is perhaps the most glaring example of this incompetence.”
The coalition’s statements come amid growing public concern over the rising cost of living in Nigeria, driven in part by escalating fuel prices. As citizens continue to feel the impact of these economic challenges, calls for reform and accountability within the energy sector are becoming increasingly urgent.