News
Fuel Crisis: BAVCCA Demands Answers from President Tinubu’s Economic Team
The Bloggers and Vloggers, Content Creators Association of Nigeria (BAVCCA) has said it is shocking that Nigeria, a major crude oil-producing nation, finds itself in significant debt, particularly with the Nigerian National Petroleum Company Limited (NNPCL) reportedly owing over $6 billion to global suppliers.
BAVCCA in a press conference in Abuja, Mr. Adah Onoja, National Spokesperson said it is alarmed by the continuous rise in fuel prices a The group noted that there must be a clear and transparent explanation of how Nigeria’s oil revenues have been managed, adding that the current state of affairs suggests that funds have been misused or misallocated, and those responsible must be held accountable.
“While we commend President Bola Ahmed Tinubu for his genuine and consistent efforts to lead Nigeria to greatness, it is evident that his economic handlers are failing to support his vision. The inability to effectively manage the country’s resources and finances is crippling the economy and placing an unbearable burden on Nigerians,” the statement noted.
The group noted those responsible for the reckless mismanagement of Nigeria’s resources and economy should be held accountable over the worsening economic situation across the country, noting that this current crisis is a direct result of the failure of those entrusted with managing Nigeria’s economy.
“We demand that those who have mismanaged NNPCL’s finances and plunged the nation into debt be thoroughly investigated and penalized for their actions.
“In addition, the policy of floating the Naira, which was expected to stabilize the currency and bring economic relief, has instead caused further depreciation of the Naira, leading to inflation and skyrocketing costs for essential goods and services. The growing disparity between the official exchange rate and the black market is a testament to the poor management of the economy by the President’s economic team.
“The President must reconsider the composition of his economic management team. Nigeria needs capable, forward-thinking professionals who can implement sound policies to stabilize the Naira, reduce inflation, and restore public confidence in the economy.”
The Transmission Company of Nigeria (TCN) has reported its seventh partial grid collapse in 2024. Despite the recurring issue, TCN’s General Manager of Public Affairs, Ndidi Mbah, reassured the public that efforts to restore power are well underway, with about 90% of substations receiving bulk power.
Mbah noted that the Azura Power Station initiated the grid recovery, although a minor setback occurred. However, power supply has been restored to the Abuja region and other key distribution centers. The Ibom Gas Generating Station remained unaffected, continuing to supply power to the South-South region.
An investigation into the cause of the collapse will commence once full grid restoration is achieved.
Vice President Kashim Shettima has expressed deep sorrow over the tragic tanker explosion in Jigawa State, which claimed over 100 lives. In a statement issued by his media aide, Stanley Nkwocha, Shettima, on behalf of President Bola Tinubu, extended condolences to the affected families, praying for strength and comfort in their time of grief.
Shettima assured the public that the federal government is mobilizing resources to support the injured and assist those affected. He has directed the immediate deployment of the National Emergency Management Agency (NEMA) to provide aid. The Vice President also stressed the need for a review of fuel transportation safety protocols to prevent future incidents.
In a separate statement, First Lady Oluremi Tinubu offered her condolences to Jigawa Governor Umar Namadi and the people of Jigawa, praying for peace and comfort for the families affected. She called the incident “unfortunate” and extended prayers for the recovery of the injured and the repose of the souls lost in the tragedy.
The Nigeria Customs Service (NCS) has revealed that it intercepted a total of 10,598 pieces of arms and 114,929 rounds of ammunition valued at N9.58 billion over the past six years. Comptroller General of Customs, Bashir Adewale Adeniyi, made this disclosure during a press conference on enforcement activities in Zone A.
Adeniyi highlighted that 60% of these seizures occurred in 2023, reflecting the Customs’ increased efforts to curb arms smuggling. He also mentioned that recent operations such as Operation Whirlwind and Operation Swift Sting are part of a strategic response to tackle evolving smuggling tactics.
In addition to arms seizures, the Customs CG announced the largest pangolin scale seizure since 2020, with 9,493 kg of scales confiscated in collaboration with the Wildlife Justice Commission. The joint operation led to four arrests across Kano, Kaduna, and Lagos. The NCS continues to intensify efforts against wildlife trafficking, targeting supply routes in northern Nigeria and border areas.
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