The Group Chief Executive Officer of the Nigerian National Petroleum Corporation Limited (NNPCL), Mele Kyari, has agreed to participate in a televised public hearing in the Senate.
This decision comes in response to a series of allegations accusing the state-owned oil company of sabotaging the nation’s oil sector.
Supporting Kyari’s call for transparency, Farouk Ahmed, the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), endorsed the idea of broadcasting the hearing live. Ahmed emphasised the importance of allowing Nigerians to witness the proceedings and understand the realities of the situation.
Speaking at the National Assembly Complex in Abuja, Kyari firmly denied any wrongdoing by the NNPCL. “There is nothing for the NNPCL to sabotage because we are out to maximise value and profits for the country,” he asserted. “We are not against any domestic refinery because the laws are clear as far as processes and procedures are concerned.”
Kyari emphasised the corporation’s commitment to the nation’s progress, stating, “We are faithful, loyal, and committed to the greatness of this country. We are not criminals, thieves, or saboteurs as being alleged through wrong narratives.”
He highlighted the NNPCL’s transformation under current management, noting that the company has become a profit-making entity after 43 years of losses. Production levels have increased from 1.4 million barrels per day to 1.65 million barrels per day, with a goal of reaching 2 million barrels per day soon.
Farouk Ahmed echoed Kyari’s sentiments, stating, “The planned public hearing will give us the appropriate platform to lay our facts bare to Nigerians for them to know who is sabotaging who. The investigation should be public and televised live.”
Senator Heineken Lokpobiri, the Minister of State for Petroleum, also supported the call for transparency. He remarked, “Please do us a favour by televising the planned investigative hearing on the alleged economic sabotage in the Petroleum Industry live.”
Aliyu Sulaiman, Group Chief Strategy Officer of Dangote Refinery, acknowledged the NNPCL’s substantial crude oil supply, noting that the refinery received 60% of its recent 5 million barrels from the NNPCL. He urged all stakeholders to support the refinery’s growth.
However, concerns about monopolistic practices were raised by Abdulkabir Aliyu, National Chairman of the Depot and Petroleum Marketers Association of Nigeria, and Abubakar Shettima, National President of the Independent Petroleum Marketers Association of Nigeria. They warned against allowing any single entity to dominate the petroleum sector, stressing the need for a competitive market.
In a related statement, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, expressed optimism that increased crude production would stabilize the country’s foreign exchange market. He also voiced confidence in the Senate ad-hoc Committee’s ability to conduct an unbiased investigation into the alleged economic sabotage in the Nigerian Petroleum Industry.
The upcoming public hearing promises to shed light on the contentious issues within the sector, with all parties eager to present their side of the story to the Nigerian public.
