Oil and Gas
Cabals regroup to derail energy sector reforms, CSO raises alarm
A coalition of civil society organizations on Wednesday raised the alarm over what it described as a coordinated smear campaign against the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited NNPCL, Mr. Bayo Ojulari, alleging that elements of an entrenched cabal are attempting to derail ongoing reforms in the energy sector. In a statement signed by its convener, Hon. Awaal Dairu, the Coalition of Civil Society for Energy Reform said the attacks on Ojulari were being orchestrated by vested interests who have lost out in the current administration’s efforts to sanitize the NNPC. The group accused the “old cabal” of sponsoring lies and misinformation to discredit the NNPC boss and undermine the progress recorded under his leadership.
According to the coalition, since Ojulari’s appointment, the national oil company has witnessed greater efficiency, transparency and investor confidence. It said that under his watch, Nigeria has not experienced fuel scarcity or panic buying, while engagement with unions and industry stakeholders has fostered stability in the downstream sector.
The statement further emphasized that Ojulari’s strict adherence to due process, merit-based contracting, and the elimination of favoritism had angered those who previously benefitted from patronage systems. “By all measurable standards, Mr Ojulari remains one of the best-performing appointees in this administration, with reforms that align directly with President Bola Tinubu’s vision for economic transformation,” the coalition declared. It therefore urged President Tinubu to resist pressure from detractors, warning that yielding to such antics could erode investor trust, embolden corrupt actors and roll back the gains so far recorded in the sector. The group also appealed to Nigerians to disregard the “falsehoods being spread” and support ongoing reforms, stressing that the fight against corruption and inefficiency in the oil industry was crucial to the nation’s future. “We must never return to the era of fuel scarcity, uncertainty, favoritism and manipulation by vested interests.
-
Oil and Gas1 day agoNUPRC vows not to approve divestments that doesn’t meet considerations
-
Oil and Gas1 day agoIran eases Strait of Hormuz transit rules amid oil shock
-
Finance1 day agoCardoso seeks collaboration to check cross‑border financial risks
-
Oil and Gas1 day agoCourt orders forfeiture of $13m linked to Aisha Achimugu’s firm
-
Oil and Gas1 day agoOil falls as reports of 15-point proposal spurs ceasefire hopes
-
Economy1 day agoNigeria to launch trade platform at ports as part of reform push
-
Finance1 day agoCourt nullifies CBN’s regulatory intervention in Union Bank in 2024, rules it acted beyond its powers
