Senior Advocate of Nigeria and former Nigerian Bar Association President, Dr. Olisa Agbakoba, has called on President Bola Tinubu to step down from his role as Minister of Petroleum Resources, citing the need for a clear separation between policymaking and regulatory functions in the oil industry.

In an exclusive interview with PUNCH, Agbakoba emphasized the importance of allowing the economy to run freely, driven by the private sector rather than government interference. He expressed concerns about the Nigerian National Petroleum Corporation Limited (NNPCL) acting as both a private company and a regulator, urging for a clear definition of its role in the industry.

“If the NNPCL is everywhere, we will face an unfortunate situation where we don’t know who does what, and prices will rise rather than fall,” Agbakoba stated. He called for a clear distinction between policymakers, regulators, and the private sector in the economy.

Agbakoba also highlighted the need for a national dialogue to address the fundamental issues facing Nigeria. He argued that the country is held together by force and that a genuine discussion among the various ethnic nationalities is necessary to determine the kind of union they want.

“Nigeria will not move forward substantially without a sit-down. It must be a conference that involves both parties in the marriage,” Agbakoba said, urging President Tinubu to allow people to have these discussions freely.

Regarding the recent #EndBadGovernance protests, Agbakoba advised the President to seek peace rather than legal action against protesters, unless they committed serious offenses. He also dismissed calls for the creation of additional states in the South-East region, stating that it would not resolve the underlying problems of centralization and marginalization.

Agbakoba expressed cautious optimism about the appointment of Justice Kudirat Kekere-Ekun as Acting Chief Justice of Nigeria, hoping that she would facilitate much-needed judicial reforms to address corruption and the slow pace of justice.

Finally, he agreed with the call by human rights lawyer Femi Falana for the Federal Government to abandon the policies of international financial institutions and develop a home-grown economic blueprint tailored to Nigeria’s specific needs.

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