CNPP to Buhari: Replace NNPC boss, mgt team with private sector players

By Musa Baba Adamu

Worried that while oil producing countries globally are experiencing a boost in their revenue generation as a result of the increasing international prices of crude oil, Nigeria has continued to suffer decline in earnings, the Conference Of Nigeria Political Parties (CNPP) has again called for the sack of the management team of the newly registered Nigerian National Petroleum Company Limited (NNPC Limited) urging President Muhammadu Buhari to replace them with prudent private sector players to save the country’s economy.

The CNPP in a statement signed by its Secretary, Willy Ezugwu, noted that “it will be impossible for Nigeria to continue with the ongoing corrupt fuel subsidy regime that mainly serves the economic interest of the individual members of the NNPC management team and our mono-economy will survive in coming months.”

The umbrella body of all registered political parties and political associations in the country was reacting to the claims by NNPC Limited that Premium Motor Spirit (PMS) will cost consumers N462 per litre without the federal governments subsidy.

The CNPP said that “it is worrisome that despite the huge assets available to NNPC, both as a public corporation and now so-called commercial company, Nigeria has never at any time felt positive impact of the company due to endemic corruption in the oil industry, especially the high level looting of the treasury through scams like fuel subsidy payments and consistent ineffective turn around maintenance of outdated Nigerian refineries.

“For instance, turn around maintenance of the four refineries in Nigeria has remained a perpetual conduit pipe deployed by virtually every management team of the NNPP under successive administrations to siphon the country’s commonwealth.

“Till date, despite several billions of dollars invested in the turn around maintenance of the Nigerian refineries, none of them has ever worked optimally.

“Rather than pursue the construction of new refineries,  the NNPC management will conveniently opt for endless renovation of the old refineries for personal economic gains.

“The current management of NNPP Limited has continued on the same path of pursuing another turn around maintenance projects at Nigeria’s moribund refineries rather than building new ones with modern refining technology.

“The only visible reason for the insistence on revamping the old refineries is because it affords successive NNPC management team an unfettered access to the country’s national treasury for personal corrupt enrichment.

“The CNPP will continue to insist that if the newly registered NNPC Limited will meet its full targets and become a truly commercially viable company, the current leadership of the company must be replaced by industry players from the private sector.

“Nigeria cannot afford to continue in this journey to nowhere called turn around maintenance of the country’s refineries and the endless looting by NNPC officials in the name of fuel subsidy.

“Unfortunately, Nigeria is unarguably the only oil producing country today that is not benefiting from the current high prices of crude oil in the international market such that Nigeria’s NNPC has been operating at a loss due to increasing subsidy claims and oil-theft under the watch of the Kyari-led NNPC management team.

“Recently, the Comptroller-General of Nigeria Customs Service, Col. Hameed Ali (retd.), brought this national calamity to the fore when he categorically ascerted that NNPC Limited cannot justify the volume of Premium Motor Spirit (petrol) being consumed in the country daily to warrant the over N6.34tn subsidy payment on the commodity annually.

“He unequivocally said that the NNPC cannot scientifically prove 98 million litres per day consumption it is claiming.

“The customs boss was clear that the nation’s oil company was supplying an excess of 38 million litres of PMS daily by the NNPC’s own claims.

“The customs boss’ argument is in tandem with the CNPP’s age-long position that NNPC is run by successive corrupt management team and now the subsidy fraud has been elevated to a new level by the current management team led by Mallam Mele Kyari.

“No sane person does a thing in the same way and expect a different result.

“To underscore the level of looting in NNPC under the President Muhammadu Buhari administration in the guise of fuel subsidy as supervised by Mallam Kyari, inflating the daily domestic consumption of patrol has remained a norm in the NNPC.