AYRG Raises Alarm Over Plot by ‘Powerful Individuals’ to Stop Crude Oil Supply

The Afenifere Youth Renewal Group (AYRG) has raised alarms over an alleged scheme by some vested interests within the Nigerian National Petroleum Corporation (NNPC) to disrupt the flow of crude oil to the country’s local refineries.
The group warns that this could lead to a sharp increase in petroleum prices, artificial scarcity, and severe economic hardship for millions of Nigerians.

In a letter co-signed by Chief Semiu Oriade (President) and Otunba Opeoluwa Ayeola (Secretary General), the AYRG expressed concerns that such actions could undo the progress made under President Bola Tinubu’s administration.
The group applauded President Tinubu’s bold economic reforms, especially the removal of the fuel subsidy, which they see as a major step toward freeing Nigeria from the grip of corrupt oil cartels.

However, they cautioned that certain elements within the NNPC—whose interests were negatively impacted by these reforms—appear to be working to obstruct the supply of crude oil to local refineries, potentially destabilizing the economy.
While acknowledging the administration’s success in curbing the destructive effects of the fuel subsidy, the AYRG expressed fears that these moves could be reversed if these saboteurs succeed in blocking crude oil supplies to local refineries.

Such a scenario, the group warns, could push Nigeria back into a cycle of relying on imported petroleum products, leading to skyrocketing prices and inflation.
The group emphasized that Nigeria’s abundant oil reserves should have already placed the country among the leading self-sufficient oil producers globally. However, due to years of mismanagement, corruption, and sabotage, Nigeria has endured the absurdity of exporting crude oil only to purchase it back at inflated prices as refined fuel, Vanguard reported.

source: legit.ng

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