Oil Sector Turmoil Puts Tinubu Under Pressure To Act
By NINI NDUONOFIT-AKOH
Resignations Amid Explosive Allegations
THE abrupt resignation of the CEOs of Nigeria’s key petroleum regulatory agencies has intensified demands for a sweeping forensic investigation into the oil and gas sector. The resignations followed allegations by Aliko Dangote that entrenched interests undermine local refining while profiting from crude exports and substandard fuel imports.
Despite swift leadership replacements, critics warn that failure to investigate could allow alleged wrongdoing to remain buried.
A Sector Under Presidential Control
With President Tinubu overseeing the petroleum sector, analysts say responsibility for restoring confidence rests squarely on his shoulders. Past administrations also concentrated petroleum oversight at the presidency, yet corruption persisted, raising questions about governance structures and political accountability.
Observers argue that this moment offers Tinubu a rare opportunity to break with tradition by authorising an independent, transparent audit.
Civil Society and Experts Speak Out
Legal practitioners, economists, and activists unanimously support a forensic investigation. Olalekan Ojo described it as essential for transforming allegations into legal accountability, while economist John Ebhomien said it would help identify systemic loopholes that enable corruption.
Activist Baba Aye, while sceptical of cosmetic reforms, acknowledged that forensic evidence could strengthen calls for deeper structural change.
A Defining Moment for Reform
Calls for investigation extend beyond individual officials to the regulatory architecture itself. Advocates insist that findings must lead to prosecutions, asset recovery, and institutional reforms to prevent future abuses.
As Nigeria faces declining oil revenues and rising public distrust, many believe the handling of this crisis will signal whether genuine reform of the oil sector is finally within reach—or once again deferred.
