Fuel Price Woes: Group demands radical reforms in oil sector, threatens mass action

ABUJA – A civil society organization, Transparency Advocacy for Development Initiatives (TADI), has called for radical reforms in the oil sector due to the persistent fuel price crisis in Nigeria.

TADI’s demand came as Nigerians struggled with rising living costs.

Fuel Price Woes: Group demands radical reforms in oil sector, threatens mass action

Petrol price hike has worsened our operations — MAN
By Luminous Jannamike

ABUJA – A civil society organization, Transparency Advocacy for Development Initiatives (TADI), has called for radical reforms in the oil sector due to the persistent fuel price crisis in Nigeria.

TADI’s demand came as Nigerians struggled with rising living costs.

The group cited the sector’s failure to resolve the crisis, despite accumulating a $6.8 billion debt to petrol suppliers.

According to the organization, this debt has resulted in relentless fuel shortages and inflated pump prices.

TADI’s Programs, Research, and Public Relations Officer, Adeniran Taiwo, briefed journalists in Abuja yesterday, highlighting the devastating impact of the crisis.

He noted that Nigeria’s inflation rate has surged to 24.5%, with fuel prices increasing by over 150% as of September 2024.

Taiwo explained that this situation has placed an overwhelming strain on households and businesses.

The group emphasized unfulfilled promises to rehabilitate the nation’s refineries, with deadlines repeatedly shifted.

TADI demanded a full public audit of these funds and a transparent investigation into their misuse.plans to stage a mass protest from October 17-18 to press for radical changes and reforms, noting that the fuel price crisis has eroded public confidence in the government’s ability to alleviate hardship.

Source :Vanguard