NNPC reacts to economic sabotage allegation
NNPC
NNPC reacts to economic sabotage allegation
Abdullateef Fowewe
The Nigerian National Petroleum Company has firmly denied the allegations of economic sabotage, noting that it has not breached any laws guiding its dealings with partners.
This was revealed in a statement titled ‘Economic Sabotage: Count us Out’, signed by the NNPC Chief Corporate Communications Officer, Olufemi Soneye.
The company’s Chief Executive Officer, Mele Kyari, during a Senate hearing on Wednesday, August 7, stated that the company has adhered to all laws and regulations, asserting it had not breached any agreements or engaged in importing substandard products.
Kyari in the statement emphasised the straightforward nature of the refining business expressed NNPC’s commitment to Nigeria’s energy sector and economic development and promised alliance with the Senate’s investigation into the allegations.
He said, “Refining business is a straightforward business. You must secure (a source for) your feedstock and you must find a market. This is basic and this determines what happens in any refinery anywhere in the world. That is the business of refining. We have done nothing to sabotage any domestic refinery.”
“The law is very clear on domestic crude oil supply obligations and also on providing for local refineries; the same law also said that there must be a willing buyer and a willing seller.”
However, regarding the alleged importation of sub-standard products into the country, Kyari clarified that the NNPC has nothing to do with that as the relevant regulatory agencies will, by law, not allow any sub-standard product into the country, stating that he supported calls for the Ad-hoc Committee to beam the interactive sessions live on national television to thwart misinforming the public.
The statement claimed that Kyari “Explained there is enough infrastructure to produce two million barrels of crude per day but the challenges of crude oil theft, pipeline vandalism and absence of investment in the upstream is the major factor hindering the sector.
“As a company owned by over 200 million Nigerians, NNPC Limited has grown from a loss-making position to a profit-making entity.”
In the statement, he assured Nigerians that the NNPC, its entire board, management and staff remain loyal, faithful and committed to Nigeria and will continue to act in line with the provisions of the Petroleum Industry Act, the Company & Allied Matters Act and other enabling laws and regulations governing the nation’s energy Industry.
“We are faithful, loyal and committed to the progress and development of this country. It is our duty to protect the overall interest of this great nation. We are not in breach of any rules,” he added.
On Tuesday, July 30, Dailyeconomy reported that President Bola Tinubu offered a lifeline to the Dangote refinery and ordered the NNPC to sell crude to the refinery in Naira.
