A coalition of civil society organizations in Osun State, known as The Osun Masterminds (TOM), has called on President Bola Tinubu to take decisive action against the cabals in the petroleum industry that have exacerbated the suffering of ordinary Nigerians. The group’s Executive Director, Professor Wasiu Oyedokun-Alli, made this appeal during TOM’s monthly State-of-the-State address held in Osogbo on Saturday.
Oyedokun-Alli expressed concern over the state of the petroleum industry following the removal of fuel subsidies, which he claimed has led to chaos in the market. According to him, the lack of regulation has allowed marketers to exploit the situation, leading to arbitrary pricing and artificial scarcity that has left many Nigerians struggling to cope with rising costs.
“We have keenly followed the emerging trends in the petroleum industry, especially as concerns product pricing,” Oyedokun-Alli stated. “Consequent upon the seeming deregulation of the downstream sector through the removal of fuel subsidy, the petroleum market seems to have gone haywire, with marketers forcing arbitrary prices on helpless citizens through artificial, man-made product scarcity.”
The coalition criticized the Federal Government’s slow implementation of palliative measures to cushion the effects of subsidy removal, arguing that this delay, combined with the exploitative practices of petroleum marketers, has subjected ordinary citizens to unprecedented hardship.
“The Federal Government under President Bola Tinubu, having removed the fuel subsidy, has unfortunately failed to implement palliative measures in a speedy manner. The slow implementation of these policies, coupled with the cruel pricing template of petroleum marketers, has placed immense pressure on ordinary citizens—pressure like they have never experienced in their lives,” Oyedokun-Alli added.
In light of these challenges, TOM urged President Tinubu to take immediate steps to rein in the petroleum industry cabals that have long held Nigerians “at the jugular.” The group emphasized the need for the President to ensure that key ministers and government officials are actively engaged in addressing the current crisis, rather than remaining passive or ineffective.
“We call on President Bola Tinubu to immediately launch efforts to rein in the petroleum industry cabal that has held Nigerians at the jugular for far too long,” said Oyedokun-Alli. “The President must also give marching orders to several key Ministers, ensuring they do not remain dead wood but become very active in the discharge of their responsibilities. The President must listen to Nigerians now and end the hardship that citizens are facing every day, which has also transferred pressure to several sectors of the consumer market. We eagerly expect concise action from Mr. President in this regard.”
The coalition also highlighted the broader issue of arbitrary price fixing across various sectors of the economy, which has further compounded the difficulties faced by the average Nigerian. They called on the Federal Government to intervene and curb the activities of middlemen who are driving up the costs of essential goods, making them increasingly unaffordable for many citizens.
“We must emphasize the need for the Federal Government to immediately end the ongoing arbitrary price fixing across several sectors of the economy,” Oyedokun-Alli concluded. “The current costs of everyday items are going over the roof, out of the reach of the average Nigerian. We must find a way to remove the middlemen who are arbitrarily raising the costs of items between manufacturer and final consumer for filthy gains.”
The Osun Masterminds’ appeal reflects the growing frustration among civil society groups and the wider public over the economic challenges facing the country, with many calling for urgent government intervention to alleviate the suffering of the masses.
