The Bloggers and Vloggers, Content Creators Association of Nigeria (BVCCA) has called on President Bola Ahmed Tinubu to sanction an investigation into over $6 billion owed to global suppliers by the Nigerian National Petroleum Company Limited (NNPCL).

BVCCA in a world press conference on Friday in Abuja expressed shock that Nigeria, a major crude oil-producing nation, finds itself in such significant debt.

Speaking on behalf of the group Mr. Adah Onoja, BAVCCA National Spokesperson said the body is alarmed by the continuous rise in fuel prices and the worsening economic situation across the country, noting that the current crisis is a direct result of the failure of those entrusted with managing Nigeria’s economy.

Onoja 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.”

He noted further that those responsible for the reckless mismanagement of Nigeria’s resources and economy should be held accountable.

“We demand that those who have mismanaged NNPCL’s finances and plunged the nation into debt be thoroughly investigated and penalised for their actions.

“In addition, the policy of floating the Naira, which was expected to stabilise 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 stabilise the Naira, reduce inflation, and restore public confidence in the economy.” (The Guardian: Text, Excluding Headline)

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