The Nigerian National Petroleum Company Limited ( NNPCL), Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and some other critical stakeholders in the petroleum industry, Wednesday. declared that they should be counted out of any act of economic sabotage in the sector.
Also, Dangote Refinery, perceived to be at logger heads with NNPCL over seamless operations, openly stated that 60% of its crude oil is provided for by the NNPCL.
Rebuttal of alleged economic sabotage was publicly made by the Minister of State , Petroleum , Senator Heineken Lokpobiri , the Group Chief Executive Officer of NNPCL , Mallam Mele Kyari and the Chief Executive Officer of NMDPRA , Engineer Farouk Ahmed, during the presentations before the Senate Ad – hoc Committee investigating alleged economic sabotage in the petroleum industry.
Specifically, the minister, in his remarks at the interactive session the committee had with stakeholders in the sector, said a lot of misinformation had 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 on happenings in the sector.
“Please, do us a favour by televising the planned investigative hearing on the alleged economic sabotage in the Petroleum Industry live,” he pleaded.
…NNPCL, NMDPRA clear air
In his own remarks, the GCEO of the NNPCL, Mr Kyari, said the company owned by over 200million Nigerians, should be counted out of any act of sabotage.
“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.
“NNPCL, under our management and by operational guidelines or relevant provisions of PIA, CAMA etc, is today a profit making company after about 43 years of losses .
“Today, from 1.4million barrels it was months back, production level has increased to 1.65million barrels per day and will soon hit the expected 2Million barrels per day.
“There is nothing for NNPCL to sabotage because we are out to maximize 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 for by the Hon 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 ground,” he said.
Similarly, the NMDPRA boss, Engr Ahmed, in his brief remarks, said the planned public hearing should be televised live for Nigerians to know those indulging in the alleged economic sabotage in the sector.
“A lot of negative stories and narratives have been written and published against us in NMDPRA on how we are carrying out our regulatory functions without us saying or telling our own story.
“Gratifyingly, the planned public hearing will give us the appropriate platform of laying our fact bare to Nigerians for them to know who is sabotaging who. The investigation should be public and televised live,” he also stressed.
…Dangote Refinery
In his presentation, the Group Chief Strategy Officer of Dangote Refinery , Aliyu Sulaiman , said out of the 5million crude oil they got in recent time, the NNPCL gave them 60% , 20% imported and 20% purchased.
He commended the NNPCL for making the huge supply to Dangote, but added that the refinery is a baby that should be supported by all relevant stakeholders to grow and not die.
However, in his presentation, a subtle attack was made against Dangote by the National Chairman of Depot and Petroleum Marketers Association of Nigeria (DAPMAN), Abdulkabir Adisa Aliyu, who said Dangote declared N133billion profit on Sugar sales in Nigeria within the last six months.
He said such a feat was made possible for Dangote for allowing him monopolized the Sugar business in Nigeria.
The Petroleum sector, he added, should not be allowed to be monopolized by any person or company, saying “Monopoly kills business.”
Similarly, in his presentation, the National President of Independent Petroleum Marketers Association of Nigeria (IPMAN), Alhaji Abubakar Shettima, loudly admonished the committee against monopoly in the petroleum sector.
“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 supply of products to retail outlets across the country to end the incessant queue at filling stations,” he said.
…Committee chair remarks
In his opening remarks, chairman of the ad-hoc committee, Senator Micheal Opeyemi Bamidele (APC Ekiti Central) , said the committee was not out to witch-hunt anybody or group of persons, but to unravel identities of those sabotaging the petroleum sector.
He specifically mentioned the alleged importation of hazardous petroleum products and substandard diesel into Nigeria arising from nonfunctionally of government-owned refineries in Nigeria .
“In 2021, specifically, the Federal Executive Council approved $1.5 billion for the turn-around maintenance of the Port Harcourt Refinery. Yet, this investment has not yielded significant returns.
“For us, in the Senate, we believe, it is unfair and unpatriotic to treat government businesses or public corporations as an orphan while private businesses are flourishing and thriving”, he said .
The committee has fixed the public hearing for September 10 to 12, 2024 along with their counterparts from the House of Representatives.