The APC Youth Solidarity Network has demanded the immediate resignation or sack of Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Corporation Limited (NNPC Ltd), following the company’s admission of owing a staggering $6.8 billion in debt.
This shocking revelation has sparked widespread outrage and raised fundamental questions about Kyari’s leadership and governance style.
Olalekan Isaac, the President of the group, at a press conference in Abuja, branded Kyari’s leadership a “catastrophic failure” marked by a lack of transparency, accountability, and fiscal prudence.
He condemned NNPC’s initial denial of the debt as a “brazen lie” that has eroded trust in the institution and undermined the nation’s economic stability.
The APC Youth Solidarity Network questioned how NNPC, under Kyari’s watch, could accumulate such a massive debt despite the nation’s vast oil resources.
They also lamented the nation’s reliance on imported fuel, despite being Africa’s largest oil exporter, as a direct consequence of years of systemic neglect and mismanagement of the state-owned oil refineries.
The group urged President Bola Tinubu to take swift and decisive action in addressing this crisis, including facilitating Kyari’s immediate resignation, initiating a comprehensive investigation into NNPC’s financial dealings, and implementing measures to prevent similar occurrences in the future.
Isaac warned that Kyari’s continued occupation of office would only exacerbate the nation’s economic woes and tarnish the reputation of the All Progressives Congress (APC) and the Nigerian people.
He demanded leadership that embodies transparency, consistency, and accountability, and called on President Tinubu to act decisively to restore the nation’s trust and confidence in its institutions.
Read full statement below:
Today, we convene in a somber atmosphere, compelled to address a pressing issue of profound gravity that has emerged within the hallowed halls of our nation’s premier oil entity, the Nigerian National Petroleum Corporation Limited (NNPC Ltd). With deep regret and a profound sense of dismay, we acknowledge the startling admission by NNPC Ltd, under the stewardship of Mr. Mele Kolo Kyari, that it has accrued a staggering debt of $6.8 billion—a stark reversal of their initial assertions, which vehemently dismissed such claims as baseless and unfounded.
This astonishing admission not only validates the conspicuous financial encumbrance that NNPC has become but also raises fundamental questions regarding the leadership and governance style of Mr. Mele Kolo Kyari, the Group Chief Executive Officer of NNPC Ltd. His tenure has been characterized by an unacceptable lack of transparency, accountability, and fiscal prudence, culminating in this colossal debt that threatens the very fabric of our national economy.
It has become painfully evident that the national oil corporation’s financial woes commenced early this year, when overdue payments for Premium Motor Spirit (PMS), commonly referred to as petrol, skyrocketed to an alarming $3 billion. Regrettably, this figure has since ballooned to an unprecedented $6.8 billion, representing a staggering 100% increase since April, as the Nigerian National Petroleum Company Limited (NNPC Ltd) grapples with the unsustainable disparity between fixed pump prices and escalating international fuel costs.
This shocking revelation has sparked widespread consternation, igniting a maelstrom of confusion, distrust, and disillusionment among the Nigerian populace. The very foundation of our institutions’ integrity is being eroded, casting a dark shadow on the nation’s future.
As the APC Youth Solidarity Network, we are profoundly dismayed by this disturbing development. As representatives of the youth and prospective leaders of this great nation, we cannot idly stand by while the credibility and trustworthiness of our institutions are mercilessly compromised.
How can we, the standard-bearers of Nigeria’s future, acquiesce to this systemic failure, which undermines the very fabric of our national identity? The APC Youth Solidarity Network will not remain silent in the face of this unfolding crisis.
Mr. Mele Kyari’s tenure has precipitated a crisis of confidence, rendering him an untenable moral and economic liability, not only to Mr President, but also to the nation at large. His prolonged occupation of office has devolved into an unmitigated embarrassment, casting a pall of shame not merely on the All Progressives Congress (APC) but on the entirety of Nigerians who rightfully demand transparency, accountability, and visionary leadership from institutions critical to our national well-being.
A poignant question echoes through the corridors of our collective conscience: How can we credibly entertain the narratives proffered by NNPC Ltd when they have so flagrantly flouted the principles of truthfulness and integrity? The stark inconsistency between their August 18th press release, which categorically denied any outstanding debts, and today’s admission of culpability, has spawned an environment of pervasive uncertainty.
Nigerians are now confronted with an existential dilemma: what to believe and whom to trust? The erosion of trust in our national institutions undermines the very fabric of our society, threatening our collective future.
This issue transcends mere financial accountability; it is a bad reflection of our nation’s pride and integrity. The citizens of Nigeria rightfully demand and deserve leadership that embodies transparency, consistency, and accountability, one that unswayed by the short tides of public opinion.
We, the APC Youth Solidarity Network, resolutely maintain that the time has arrived for Mr. Mele Kyari to assume full responsibility for this leadership failure. It is imperative that he relinquish his position, thereby sparing our nation further international embarrassment and ridicule.
Regrettably, Nigeria, Africa’s largest oil exporter, finds itself in the incongruous position of importing virtually all its fuel requirements. This anomaly is obviously a direct consequence of years of systemic neglect and mismanagement of our state-owned oil refineries. Furthermore, the selfish interests and lack of visionary leadership within our oil and gas sector have hindered the optimal utilization of the newly commissioned 650,000 barrel-per-day Dangote refinery. Instead of producing marketable petrol for domestic consumption, this facility is compelled to export other fuels abroad, exacerbating our nation’s energy woes.
This critical moment serves as a clarion call for transformative change, heralding a new era of transparency, accountability, and visionary leadership. We fervently implore Mr. Mele Kyari to relinquish his position, paving the way for fresh leadership that embodies the sacred values of openness, integrity, and responsibility that our citizens rightfully deserve.
Mr. Kyari’s protracted occupation of office has devolved into an unrelenting source of embarrassment, tarnishing the reputation of our esteemed party, the All Progressives Congress (APC), and the Nigerian people. We urge him to take the noble path of resignation, immediately relinquishing his duties to spare our nation further discomfort, reputational damage, and international ridicule.
By resigning, Mr. Kyari would demonstrate his commitment to integrity, accountability, and the values that our party holds sacrosanct. The youth of this nation are vigilantly observing, and we demand leadership that mirrors our aspirations for a brighter, and more prosperous future.
To this end, we issue a heartfelt appeal to President Bola Ahmed Tinubu, urging him to take swift, and decisive action in addressing this crisis. Mr. President, we implore you to:
1. Facilitate the immediate resignation of Mr. Mele Kyari as Group Chief Executive Officer of NNPC Ltd, thereby ending his tenure of questionable leadership.
2. Initiate a comprehensive, impartial investigation into NNPC’s financial dealings, aiming to unravel the circumstances surrounding the staggering $6 billion debt.
3. Implement stringent measures to prevent similar occurrences in the future, ensuring the corporation’s fiscal discipline and transparency.
Through these decisive measures, we aim to achieve a trifecta of transformative outcomes: restoring the tarnished integrity of NNPC Ltd, upholding the sacred values of our party, and revitalizing the eroded trust of the Nigerian people.
Moreover, we seek to rekindle faith in our institutions, ensuring that those entrusted with leadership roles are strongly committed to the prosperity and progress of our great nation.
As a party, we reaffirm our steadfast commitment to upholding the timeless values of transparency, accountability, and exemplary governance. We shall persist in advocating for a Nigeria where accountability reigns supreme, and our leaders are held to the highest standards of integrity, probity, and moral rectitude.
Our vision is of a nation where leadership is characterized by selflessness, transparency, and an unyielding dedication to the well-being of all citizens. We will tirelessly strive to create an environment where accountability is not merely an aspiration but a lived reality.