The Conference of Progressive Nigerians warns against the suspension of the naira-for-crude deal by NNPCL, emphasizing it as detrimental to Nigeria’s economy. They urge immediate governmental action to investigate the NNPCL and demand reinstatement of the deal to support local refineries and prevent economic hardship for citizens.
The Conference of Progressive Nigerians (CPN) has expressed serious concerns regarding the Nigerian National Petroleum Company Limited’s (NNPCL) potential suspension of the naira-for-crude deal. Dr. Emmanuel Agabi, the CPN convener, characterized this possible move as a “treacherous move” that threatens Nigeria’s economic interests. He articulated the adverse impacts such a suspension could have on local petroleum prices and the livelihoods of Nigerian citizens.
During a press conference in Abuja, Dr. Agabi criticized the NNPCL for considering the suspension of the naira-for-crude deal, asserting that it would undermine local refineries and exacerbate the precarious economic situation. The CPN highlighted the importance of this deal for maintaining local crude oil supply and expressed that it plays a vital role in stabilizing the country’s foreign exchange reserves.
Agabi emphasized the need for immediate governmental action, advocating for a thorough investigation into the NNPCL’s decision-making processes. He stressed that Nigeria’s local refineries possess the capacity to fulfill domestic demands, contingent upon receiving appropriate government support. The CPN urged the NNPCL to reconsider its stance and prioritize the nation’s interests over personal gain.
The organization issued a firm warning to the NNPCL leadership, vowing to hold them accountable for any actions perceived as detrimental to the nation’s energy security. Agabi concluded with a call for transparency and justice, insisting on the reinstatement of the naira-for-crude deal to ensure the prosperity of local refineries and the overall economy of Nigeria.
In summary, the CPN has voiced vehement opposition to the NNPCL’s consideration of suspending the naira-for-crude deal, as this could lead to significant economic hardship for Nigerians. The organization demands the reinstatement of this agreement, urgent government intervention, and greater accountability from the NNPCL in safeguarding the economic interests of the nation. With adequate support, Nigeria’s local refineries have the potential to meet domestic needs effectively.
Original Source: saharareporters.com
