CLAIMS OF economic sabotage in Nigeria’s petroleum industry have sparked intense scrutiny.
Nigerian National Petroleum Corporation (NNPC) Limited, under investigation by the Senate Ad-Hoc Committee, faces allegations of legal breaches and importing sub-standard products.
NNPC’s Group Chief Executive Officer, Mele Kyari, strongly denies these accusations.
He insists that NNPC adheres strictly to legal requirements.
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Kyari explained that refining is straightforward: secure feedstock and find a market.
This basic process is followed without sabotaging domestic refineries.
The law on domestic crude oil supply and local refineries is clear.
Transactions must occur between willing buyers and sellers.
Kyari dismissed claims about sub-standard products, stating regulatory agencies ensure quality standards.
Kyari supports broadcasting the committee sessions live on national television to ensure transparency.
He highlighted Nigeria’s capacity to produce two million barrels of crude oil daily but identified crude oil theft, pipeline vandalism, and lack of upstream investment as major challenges.
Despite these obstacles, NNPC has moved from a loss-making to a profit-making entity.
Kyari emphasized the company’s commitment to cooperating with the committee and adhering to the Petroleum Industry Act and other laws.
“We are committed to Nigeria’s progress and abide by all rules,” Kyari concluded.
