Nigerian political economy professor and management expert, Pat Utomi, has criticised the Nigerian National Petroleum Company Limited (NNPCL) for corruption, stating that the reported fuel consumption in the country is often exaggerated.
During a live appearance on News Central’s Politics HQ show on Wednesday, Utomi said Nigerians consume less than a third of what is often reported.
“The amounts attributed to fuel subsidies are fictional. Historical data shows that Nigerians consume less than a third of what the NNPC claims,” he said.
Utomi also criticised the government’s inaction on NNPCL reforms, saying, “Since taking office, the government has done nothing about NNPC. To address equity, they must come with clean hands.”
Addressing the removal of fuel subsidy by President Bola Tinubu, Utomi clarified that he would have backed the move, only if there was a strategic approach to it. He also criticised the political elite for not making sacrifices for the country.
“I’ve advocated for subsidy removal for over 30 years. The issue is about having a strategy, not opposing subsidies. You can’t discuss removing subsidies while the elites squander the country’s wealth. The political class shows no willingness to sacrifice. How can you expect to fix the problem this way?”
Pat Utomi also noted that business leaders like Aliko Dangote are now facing the consequences of ignoring calls for these reforms.
“I’ve been urging collective action to fix Nigeria. People like Aliko [Dangote] haven’t paid attention, and now it’s affecting them. It will eventually get to everybody.”