The Group Chief Executive Officer of the Nigerian National Petroleum Corporation Limited (NNPCL), Mele Kyari, has agreed to a televised public hearing in the Senate concerning allegations of sabotage within the nation’s oil sector. This agreement came on Wednesday amid rising accusations against the state-owned oil company.
Joining Kyari, the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, endorsed the proposal. He emphasized that the public hearing should be broadcast live, allowing Nigerians to witness the proceedings and understand the true nature of the allegations.
Speaking at the National Assembly Complex in Abuja, Kyari firmly denied any involvement in sabotage, stating, “There is nothing for the NNPCL to sabotage because we are out to maximize value and profits for the country. We are not against any domestic refinery as long as the laws regarding processes and procedures are followed.” He added that televising the public hearing would reveal the truth to Nigerians.
Kyari highlighted the achievements of the NNPCL under his leadership, noting that the company has transformed into a profit-making entity after 43 years of losses. He reported an increase in oil production from 1.4 million barrels to 1.65 million barrels per day, with a target of reaching 2 million barrels per day soon.
Ahmed, supporting Kyari’s call for transparency, stated, “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. The planned public hearing will provide us with the platform to present our facts to Nigerians.”
Senator Heineken Lokpobiri, the Minister of State for Petroleum, also supported the public hearing, citing widespread misinformation about the roles of his ministry and other agencies. He stressed that the hearing would provide clarity to the public.
Aliyu Sulaiman, the Group Chief Strategy Officer of Dangote Refinery, praised the NNPCL for their support, mentioning that the refinery received 60% of their recent crude oil supply from NNPCL. However, he emphasized the need for support from all stakeholders to ensure the refinery’s success.
Concerns about potential monopolies in the petroleum sector 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. Both stressed the importance of preventing monopolies to foster a competitive market.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, expressed optimism that the increase in crude production would stabilize the country’s foreign exchange market. He also expressed confidence in the Senate ad-hoc Committee’s ability to conduct a fair and impartial investigation into the alleged economic sabotage in the petroleum industry.
