Coalition of Civil Society Organisations has called for an account of funds spent on repairs of refineries since 2007.
The coalition said Nigerians deserve to know why the refineries remain dormant despite enormous expenditure.
National Spokesperson, Segun Adebayo, told reporters in Abuja yesterday that the $20 billion spent must be accounted for.
He said the decision to import over 1.6 billion litres of PMS would undermine the country’s local refining potential.
It said this decision by Nigeria National Petroleum Company Limited would cripple the economy and deepen our hardship.
“The importation of such an enormous volume of PMS places undue pressure on Nigeria’s foreign exchange reserves. With the naira already struggling against major currencies, this decision will exacerbate depreciation of our currency.
“A weaker naira means higher inflation, making life harder for Nigerians as goods and services become unaffordable. The added cost of importing fuel undermines our goal of achieving energy independence, while draining resources to be invested locally.
“It is alarming imported PMS is reportedly of substandard quality, damaging vehicles and increasing maintenance costs for Nigerians. From taxi drivers to small business owners, this poor-quality fuel is wreaking havoc on livelihoods. This is unacceptable in a country with abundant crude and refining potential.
Source: Daily trust
