A coalition of 1000 Civil Society Organizations (CSOs) has faulted President Bola Ahmed Tinubu’s economic team, calling for its immediate reconstitution. The group expressed deep concern over the state of the economy, escalating fuel prices, and the hardship faced by Nigerians.
The CSOs, under the auspices of the Coalition of Civil Society Organisations (CCSOs), pointed out that the current situation has cast doubt on the competence of the Tinubu economic team. They called for an urgent review, citing the deteriorating economy, unstable exchange rate, and fuel price hike as evidence of economic mismanagement.
The group also expressed concern over the Nigerian National Petroleum Company Limited’s (NNPCL) debt trap, which has slowed down importation of Premium Motor Spirit (PMS), leading to the current shortage. They claimed that NNPCL has accrued debts totaling over $6 billion, causing petrol supply shortages.
The CSOs demanded immediate government intervention, accountability for economic mismanagement, a return to sound financial policy, and transparency in economic decision-making. They warned that without corrective measures, the economic situation will continue to deteriorate, leading to further hardship for Nigerians.
