A consortium of civil society organisations (CSOs) has asked the Central Bank of Nigeria (CBN) to ensure equal opportunity for all oil marketers in accessing Foreign Exchange (FOREX) for the importation of petroleum products.

Development Diaries understands that the consortium, led by the Nigeria Natural Resource Charter (NNRC), comprises Civil Society Legislative Advocacy Centre (CISLAC), BudgIT and Connected Development (CODE).

Others are Media Initiative for Transparency in Extractive Industries (MITEI), OrderPaper Advocacy Initiative, Women in Extractives (WiE), Dataphyte, Spaces for Change, Extractive 360, Centre for the Study of the Economies of Africa (CSEA) and Youth Forum on Extractive Industry Transparency Initiative (Youth Forum on EITI).

Also part of the consortium are Publish What You Pay (PWYP), Africa Network for Environment and Economic Justice (ANEEJ), African Centre for Leadership Strategy and Development (CentreLSD), Centre for Development Support Initiatives (CEDSI), Centre for Transparency Advocacy (CTA) and Koyenum Immalah Foundation.

‘The relevant authorities, especially the CBN, should ensure a level-playing field for all importers of PMS and not place the NNPC at an advantage over others’, the CSOs said in a statement.

‘NNPC should take urgent practical steps to reverse the fortunes of the loss-making refineries as revealed in its published 2018 Audited Reports of its subsidiaries.

‘The refineries remain cost centres that the Nigerian government cannot afford given the impact of Covid-19 and other fiscal pressures on its economy.

‘The Nigerian government should create an enabling environment for the private sector to contribute to the efficient running of the refineries so that Nigerian can reach its domestic refining goals’.

The CSOs called on President Muhammadu Buhari to demonstrate an honest commitment to the deregulation efforts by expunging the laws that entrench the potential of returning to a subsidy regime and pre-deregulation state.

Source: PM News Nigeria

Photo source: Central Bank of Nigeria

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