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Economic Sabotage: NICOCSO Raises Concerns Over NNPCL’s Continuous Fuel Importation

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The Nigerian Coalition of Civil Society Organisations (NICOCSO) has accused the Nigerian National Petroleum Company Limited (NNPCL) of sabotaging Nigeria’s economy by ordering over 1.6 billion litres of Premium Motor Spirit (PMS) into the country with the sole aim of strangulation local refineries.

Speaking during a press conference in Abuja on Tuesday,  its national spokesperson Segun Adebayo, and the national coordinator of the group, Benjamin James, expressed dissatisfaction with the manner the NNPCL is discouraging local refineries from competing with their contemporaries abroad.

According to them, “Today, we gather to address a decision by the Nigerian National Petroleum Company Limited (NNPCL) that threatens the economic future of our nation.

“The decision to import over 1.6 billion litres of Premium Motor Spirit (PMS) is not just a policy misstep but a deliberate move to undermine Nigeria’s local refining potential, cripple the economy, and deepen the hardship faced by ordinary Nigerians.

“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 the depreciation of our currency.

“A weaker Naira means higher inflation, making life harder for Nigerians as goods and services become increasingly unaffordable. The added cost of importing fuel undermines our goal of achieving energy independence while draining resources that could have been invested in local refineries”.
They said it is alarming that the imported PMS is reportedly of substandard quality, damaging vehicles and increasing maintenance costs for millions of 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 oil and refining potential”.

Speaking further they lamented the betrayal of Nigerians’ trust by the oil regulatory body, saying for decades, billions of dollars have been spent repairing refineries, with numerous promises of functionality. Yet, none of Nigeria’s refineries are operational today, and instead of supporting local refining, the NNPCL perpetuates a cycle of dependency on imports—stifling local initiatives and sabotaging job creation.

NICOCSO demanded that the government and the NNPCL must provide a comprehensive account of the $20 billion spent on refinery repairs since 2007. Adding that Nigerians deserve to know why their refineries remain dormant despite these enormous expenditures.

Moreso, that NNPCL must set and announce a clear start date for operations at Nigeria’s three major refineries, queried that the people of Nigeria, as the true owners of these refineries, deserve transparency and a commitment to deadlines.

NICOCSO said while the NNPCL argues against monopoly in the industry, it enjoyed monopoly privileges for decades adding that with policies that could encourage competition and local growth, the NNPCL must step up and support the operationalization of local refineries.

“If these demands are not met, NICOCSO will organize nationwide protests across Abuja and other states. Nigerians must rise to demand accountability, transparency, and policies that prioritize local industries”, they said.

NICOCSO argued that NNPCL’s decision to import PMS on this scale undermines national interest, weakens the economy, and delays the journey toward energy independence.

“NICOCSO remains committed to ensuring that public resources are used in the interest of the people, and we call on all Nigerians to join us in holding the NNPCL and its leadership accountable. Together, we can demand a better future for our nation”, the group said.

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Seven Killed in Fresh Attack on Benue Community

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By: Fabian Apechihin

At least seven people have been confirmed dead following an ആക്രമ by suspected armed herders on Channel One community in Logo Local Government Area of Benue State.

The affected settlement, located along the Arufu–Wukari road near the border with Taraba State, was reportedly invaded late Sunday night. Residents said the attackers stormed the area around 11 p.m., firing indiscriminately and forcing villagers to flee.

A local resident, Amos, who spoke via telephone, said the sudden gunfire caused panic as people ran for safety. A community leader, Joseph Anawah, also confirmed the нападение, initially reporting six fatalities and identifying the victims as Akor Gwakyaa, Msooter Gwakyaa, Aondoungwa Michael, Vershima Michael, Terna Michael, and Msughter Terzungwe.

He added that several others sustained serious injuries and were taken to hospitals in Anyiin, while about seven critically injured victims were transferred to Ugba for further treatment.

According to Anawah, the attackers—believed to be armed Fulani herders—arrived in large numbers on motorcycles and were heavily вооружены. He alleged that they may have come from a camp in Shaor, a deserted village in Logo LGA previously flagged in intelligence reports as a base for armed groups.

The assault has triggered fresh displacement, with residents of the affected and nearby communities fleeing to safer locations over fears of additional attacks.

Chairman of Logo LGA, Clement Kav, confirmed that seven people were killed and four others injured. He said the assailants carried out a swift हमला before retreating.

Kav noted that the incident has been reported to the police commissioner and the state’s Special Adviser on Homeland Security.

Meanwhile, the spokesperson of the Benue State Police Command, DSP Udeme Edet, said she had not yet received full details of the incident but promised to provide updates.

The latest killings add to a growing wave of violence across Benue State. In recent days, multiple attacks have been recorded, including the killing of a traditional ruler and his family in Agatu LGA, as well as the murder of three mourners and abduction of two others in Ushongo LGA.

Community leaders are now urging both state and federal authorities to strengthen coordinated security operations, particularly along border areas, and to dismantle suspected armed camps to prevent further bloodshed.

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Court Orders Accelerated Trial Of Alleged Coup Plot Suspects

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By: Fabian Apechihin

A Federal High Court sitting in Abuja has directed that the trial of six individuals accused of plotting to topple President Bola Tinubu’s government be fast-tracked.

In a ruling delivered on Monday, Justice Joyce Abdulmalik approved an accelerated hearing process and scheduled April 29, April 30, May 4, and May 5 for the start of the trial, along with the hearing of bail applications. She, however, stated that proceedings would commence before any bail requests are entertained.

Those standing trial are Mohammed Ibrahim Gana, a retired major-general; Erasmus Ochegobia Victor, a retired navy captain; Ahmed Ibrahim, a police inspector; and Zekeri Umoru, an electrician attached to the Presidential Villa. Also charged are Bukar Kashim Goni and Abdulkadir Sani, a Zaria-based cleric.

The defendants are facing a 13-count charge that includes allegations of treason, terrorism, failure to disclose information, and money laundering. All six pleaded not guilty. One of the charges accuses them of conspiring in 2025 to wage war against the state in a bid to unseat the President.

Attorney General of the Federation, Lateef Fagbemi, informed the court that the prosecution is prepared, with witnesses ready to testify. However, defence lawyers—among them Mohammed Ilayepo, Paul Erokoro, A.I. Yeru, and N.S. Diri—objected to the timeline, citing inadequate notice and the complexity of the case.

Despite the concerns raised, the court instructed all parties to cooperate in ensuring a swift trial.

The session was held under heavy security, with journalists barred from the courtroom. Officials, backed by operatives of the Department of State Services, asked reporters to leave shortly before proceedings began.

Meanwhile, a separate military tribunal involving 36 serving officers allegedly connected to the plot is scheduled to resume on May 8. The Defence Headquarters confirmed that the officers are being tried under military law at a tribunal in Abuja.

The parallel civilian and military proceedings highlight the scale of the alleged plot, which authorities say involves both civilians and active-duty personnel.

Former Bayelsa State Governor Timipre Sylva, who was named in several counts but not formally charged, is said to be at large.

The six accused persons had earlier been arraigned and remanded in DSS custody as investigations into the alleged coup plot continue.

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Policy Summersaults Threat To Nigeria’s Growth: CRC Boss

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Stephen Olufemi Oni, Ilorin

Nigeria’s quest to build a vibrant entrepreneurial economy is under serious threat due to inconsistent government policies, weak infrastructure and fragmented data systems, Managing Director of CRC Credit Bureau Limited, Dr Ahmed Babatunde Popoola, has said.

Popoola raised the alarm while delivering a lecture at the Kwara State University (KWASU), Malete, where he stressed that access to finance alone cannot drive business growth without trust, reliable data and coordinated policy direction.

According to him, Nigeria must urgently strengthen three key pillars—financial services, financial infrastructure and socio-economic systems—to compete with leading entrepreneurial economies globally.

“We must develop all these three in Nigeria to join the league of entrepreneurial economies,” he said.

He expressed concern that frequent policy changes by successive administrations have weakened the impact of government interventions on small businesses and consumers.

“At the public policy level, a coherent access to finance framework for consumers and SMEs needs to be developed. We have observed that different administrations embark on different policies and continuity is not guaranteed. This is a major challenge in Nigeria,” Popoola stated.

The CRC boss also decried the dominance of informal credit systems, warning that millions of Nigerians, including users of unregulated digital lending platforms, remain outside the formal financial ecosystem.

“A lot of credit activities take place informally outside the formal financial system. A robust finance framework would connect these fragmented sources to the formal system and enhance financial inclusion,” he said.

On identity management, he called for the harmonisation of multiple identification platforms under the National Identification Number (NIN), proposing a unified system for all Nigerians.

“We need to accelerate the fusion of tax ID, passport, BVN, driver’s licence and voter’s card with the NIN. It should be the only unique number for everyone,” he added.

Popoola further warned that rising digital financial transactions have increased exposure to fraud and data breaches, urging stricter enforcement of data protection laws.

“Data is central to the success of the financial system. It must be protected from abuse and unauthorised access. Strict compliance with data protection regulations should be enforced,” he said.

He also urged government to unlock critical data held by telecom firms, power distribution companies, insurers and tax authorities to support credit bureaus in improving lending decisions.

“With the right data, credit bureaus can unlock access to credit for consumers and small businesses. Today, data is locked up in silos and not useful to the economy,” he noted.

Highlighting infrastructure gaps, Popoola described poor electricity supply as a major obstacle to industrialisation and enterprise development.

“I do not think any nation can achieve greatness if access to electricity remains as poor as we currently have it in Nigeria,” he said.

He challenged universities to conduct impact assessments on government-backed SME programmes, noting a lack of evidence on whether such interventions are achieving desired outcomes.

“Rigorous research should determine whether these supports are achieving expected outcomes. As of now, we have little research activities in this area,” he added.

Popoola, however, acknowledged progress in Nigeria’s digital ecosystem, citing the growth of fintech firms such as Flutterwave, OPay, Interswitch and MoniePoint as evidence of emerging trust infrastructure.

“Government direct financial support is a form of subsidy and cannot materially address the gaps in access to finance. The promotion of financial infrastructure will move the needle faster,” he said.

He emphasised that improving education and healthcare systems is critical to unlocking the potential of Nigeria’s youthful population.

“When we build the capacity of people through quality education and accessible healthcare, we will unleash opportunities for our youthful population to live lives of dignity and prosperity,” Popoola said.

Meanwhile, the Vice-Chancellor of Kwara State University, Professor Shaykh-Luqman Jimoh, reaffirmed the institution’s commitment to bridging the gap between academia and industry through strategic partnerships.

Jimoh said the collaboration between the university and CRC Credit Bureau Limited would enhance students’ employability through internships, research and industry exposure.

“This lecture is one way we as a university are forging synergy with industry,” he said.

“Our students stand to benefit from structured internships, industry exposure, and targeted employability training, while our faculty will engage in joint research and knowledge exchange that strengthens both academic output and industry practice,” Jimoh added.

He noted that the partnership, formalised in January 2026, focuses on finance, data science and credit management, positioning the university as a driver of economic transformation.

“For us, theory must meet practice on our campuses while practice must reflect grounded theories in our communities. This is the only way universities can contribute meaningfully to national development,” he said.

Also speaking, the Dean of the Faculty of Management and Social Sciences, Dr Rahman Mustapha, underscored the importance of trust in building a sustainable financial and entrepreneurial ecosystem.

“The future of finance and entrepreneurship in Nigeria rests on your shoulders, and trust remains the currency that will sustain your endeavours,” Mustapha told students.

He described the lecture as timely, noting that stronger collaboration between academia and industry is essential for preparing students for real-world challenges and driving national development.

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