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Re: NNPC And Fuel Scarcity: Corruption And Wickedness In High Places

By Adewole Kehinde

I came across an article with the above titled published by one Business And Maritime West Africa on Wednesday.

I didn’t want to give attention to the poorly written script but the fact that the paper said that Nigerian National Petroleum Company Limited, is “Nigeria’s dunghill of corruption” made me clarify some facts to the ignorance of the writer.

Since Mele Kolo Kyari assumed office as the Group Managing Director of the Nigerian National Petroleum Corporation(NNPC), he has not hidden his desire to bequeath to Nigerians a corporation that not only serves the purpose it was founded but one that aligns with international best practice.

That was why few days after his inauguration, the oil and gas technocrat unfolded his Transparency, Accountability and Performance Excellence (TAPE) agenda, a five-step strategic roadmap for NNPC’s attainment of efficiency and global excellence.

Kyari, during the inauguration, said pursuing TAPE was the only way to turn around the corporation and make it competitive. And true to his words, the NNPC GMD has remained focused on his target, despite efforts by some of his detractors to derail his transformative agenda as was seen in the recent allegation that 48 million barrels of the country’s crude oil were diverted and stolen.

It is on that NNPC posts its first profit of N287 billion after 45 years of existence under the leadership of Malam Mele Kyari.

Under Kyari, the NNPC Ltd remained committed to conducting its operations with Transparency and Accountability.

Kyari has attributed the successes recorded by the company’s management team to the freehand and support they got from President Muhammadu Buhari, who he said had never interfered in its affairs.

The writer said that NNPC “had proposed that the controversial fuel subsidy which they had dubiously mishandled would be removed this year”

First of all, the Petroleum Industrial Act is clear on subsidy removal. 

For clarification, the Act establishes incorporated joint companies under Section 65 of the Act.

The NNPC Limited is to conduct its affairs on a commercial basis in a profitable manner without recourse to government funds and their Memorandum and Articles of Association shall state these restrictions. “The NNPC is also required to declare dividends to its shareholders and retain 20 percent of profit as retained earnings to grow its business like any other incorporated entity incorporated under the Companies and Allied Matters Act, as provided under Section 53(7) of the Act.

The downstream deregulation through the Act will bring about the liberalization of the sector, which would make it possible for all petroleum products marketers to source their products from anywhere and sell at any price dictated by prevailing market forces. “The competition arising from that would have helped to force pump prices down to the benefit of the citizens.

The most annoying and moronic part of the write-up is that part that said the NNPC limited “arrange and import bad fuel into the country.

The Kyari Management team since his resumption as the GMD of the NNPC Limited has never experienced fuel scarcity, especially during the festive period.

It is so ludicrous to say that “NNPC imported bad fuel to destabilize the system and induce the desired price increase”.

Another incongruous script is that statement that said “Sources from the government oil company have even told some Nigerians secretly that the fuel that came into the country as bad fuel was exactly what NNPC had negotiated for”.

Only a dumb person will accept that a man who has the interest of Nigerian at heart will import bad fuel into Nigeria.

Yes, the fuel imported passed through all the tests at the foreign port of loading and the port of discharge here in Nigeria. It is like when you go for a Malaria test, do the Doctor test for HIV or Diabetics? The answer is No.

I must commend the CEO of the NNPC Limited for his quick intervention that has shut the mouth of his detractors

It is laughable to say that the “NNPC made sure it’s the sole importer by working with the Central Bank of Nigeria to deny major and independent oil marketers the business of importing fuel”.

The NNPC does not have the power to dictate to the Central Bank of Nigeria and thank God for the Petroleum Industry Act that is opening up the sector to deregulation.

Mal Mele Kyari and his management team deserves Nigerian’s standing ovation and award of recognition for shutting the mouths of detractors

 

Adewole Kehinde is a Public Affairs Analyst based in Abuja and can be reached via 08166240846, 08123608662. Email: kennyadewole@gmail.com   

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