NNPC, NMDPRA agree to televised public hearing

The Group Chief Executive Officer, Nigerian National Petroleum Corporation Limited, Mele Kyari, on Wednesday, agreed to a televised public hearing in the Senate.

This is coming over a series of allegations accusing the state-owned oil company of sabotage in the nation’s oil sector.

Also, the Chief Executive Officer, Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed, in his brief remarks, backed Kyari’s statement, saying the planned public hearing should be televised live for Nigerians to know those indulging in the alleged economic sabotage in the sector.

Kyari, while giving his remarks at the National Assembly Complex in Abuja, requested that the company be counted out of any act of sabotage.

He said, “There is nothing for the NNPCL to sabotage because we are out to maximise value and profits for the country. We are not against any domestic refinery because the laws are clear as far as processes and procedures are concerned.

“As requested by the Minister of State for Petroleum, the planned public hearing on alleged sabotage in the sector should be televised live for Nigerians to know the truth of situations on the ground.”

“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.”

The NNPCL boss stated that the corporation “under our management and by operational guidelines or relevant provisions of the PIA, CAMA, etc. is today a profit-making company after about 43 years of losses.

“Today, from 1.4 million barrels it was months back, production level has increased to 1.65 million barrels per day and will soon hit the expected 2 million barrels per day.”

Similarly, Ahmed said, “A lot of negative stories and narratives have been written and published against us in the NMDPRA on how we are carrying out our regulatory functions without us telling our own story.

“Gratifyingly, the planned public hearing will give us the appropriate platform of laying our facts bare to Nigerians for them to know who is sabotaging who.

“The investigation should be public and televised live.”

Also present in the Senate, the Minister of State (Petroleum), Senator Heineken Lokpobiri, said a lot of misinformation has been churned out to the public on roles being played by his ministry and other agencies in making it inclusive for interested investors.

The planned public hearing by the committee, according to him, would afford Nigerians to know the truth of happenings in the sector.

Lokpobiri said, “Please do us a favour by televising the planned investigative hearing on the alleged economic sabotage in the Petroleum Industry live.”

In his presentation, the Group Chief Strategy Officer, Dangote Refinery, Aliyu Sulaiman, said out of the 5m crude oil they got in recent times, the NNPCL gave them 60%, 20% imported and 20% purchased.

He commended the NNPCL for making the huge supply to the refinery but added that the refinery is a baby that should be supported by all relevant stakeholders to grow and not die.

However, the National Chairman, Depot and Petroleum Marketers Association of Nigeria, Abdulkabir Aliyu, said Dangote declared N133 billion profit on sugar sales in Nigeria within the last six months.

He said such a feat was made possible for the Chairman of the Dangote Industries, Aliko Dangote, allowing him to monopolise the sugar business in Nigeria.

The Petroleum sector, he added, should not be allowed to be monopolised by any person or company, saying, “Monopoly kills business.”

Similarly, the National President, Independent Petroleum Marketers Association of Nigeria, Abubakar Shettima, in his presentation, loudly admonished the committee against monopoly in the petroleum sector.

He said, “The current value chain in the downstream should be sustained to allow other investors to participate.

“NNPCL is doing its best but should please improve on the supply of products to retail outlets across the country to end the incessant queue at filling stations.”

In his remarks, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said the increase in the crude would stabilise the country’s foreign exchange market while expressing confidence in the leadership of the Senate ad-hoc Committee investigating the alleged economic sabotage in the Nigerian Petroleum Industry, to conduct an unbiased and impartial investigation.