CIFCFIN Calls on FG to Crush Oil, Gas Cabals, Boost Private Refining

CIFCFIN Calls on FG to Crush Oil, Gas Cabals, Boost Private Refining

 

 

 

The Chartered Institute of Forensics and Certified Fraud Investigators of Nigeria (CIFCFIN) has urged the Federal Government to take bold action to dismantle cabals that continue to hold the nation’s oil and gas sector hostage.

 

In a statement on Wednesday marking Nigeria’s 65th Independence anniversary, CIFCFIN’s founder and chairman, Iliyasu Gashinbaki, said forensic investigations revealed how these cabals operate through key sector institutions, including the Nigerian National Petroleum Company (NNPC) Limited, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

 

He further accused labour unions such as the National Union of Petroleum and Natural Gas Workers (NUPENG), the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), and the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) of creating bottlenecks that fuel scarcity and increase import dependency.

 

Gashinbaki called on the government to adopt a four-point strategy to end these challenges:

 

1. Treat obstructive actions as economic sabotage under existing laws, including the Petroleum Industry Act.

 

 

2. Assert executive authority against groups undermining the economy and public trust.

 

 

3. Designate strategic assets like the Dangote Refinery as critical infrastructure requiring maximum protection.

 

 

4. Encourage private sector participation to enhance competitiveness in the oil and gas industry, citing the telecom sector as a model of success.

 

 

 

The CIFCFIN chairman emphasised that Nigeria’s 37 billion barrels of oil and 208 trillion cubic feet of gas are capable of powering industrialisation and long-term prosperity. Yet, decades of failed refineries in Kaduna, Warri, and Port Harcourt have forced the country to export crude while importing refined products, draining national resources.

 

Gashinbaki praised the Dangote Refinery, with a capacity of 650,000 barrels per day, as a landmark achievement for private enterprise in the sector. He noted that the facility, recently spared from a strike by PENGASSAN through federal intervention, could meet domestic fuel demand and position Nigeria as a net exporter.

 

He added, “Nigeria at 65 cannot continue to allow vested interests to hold our prosperity hostage. Private sector-led energy independence is key to breaking the chains of entrenched cabals and driving national progress.”