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Group blasts Sunusi,SERAP over ‘Frivoulous’ Allegations of Non Remittance of Revenues, Forex by the mgt of NNPCL


Group blasts Sunusi,SERAP over ‘Frivoulous’ Allegations of Non Remittance of Revenues, Forex by the mgt of NNPCL

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A Group Energy Monitors Coalition of Nigeria (EMCN) has described as frivolous the demand by the former Governor of the Central Bank of Nigeria, Sanusi Lamido Sanusi and Socio-Economic Rights and Accountability Project (SERAP) for the Group Chief Executive Officer, Nigerian National Petroleum Company Limited, Mr. Mele Kolo Kyari, to disclose details of barrels of oil Nigeria produces and exports every day and the total amounts of revenues generated from oil since the removal of subsidy on petrol in May 2023.

Recalled SERAP and the former Kano Emir that made the demand separately , also accused Kyaril led NNPCL of allegedly failing to remit enough foreign exchange into the treasury despite the removal of fuel subsidy.

But in a reaction to the allegations , the Energy Monitors Coalition of Nigeria in a statement jointly signed by the National Chairman, Mr. Theophilus Abraham and Musa Ibrahim Danbatta which concedes to issues of allegations of corruption and mismanagement in the oil sector and entrenched impunity of perpetrators which over the years undermined public trust and confidence in the oil company, said Mele Kyaril led management has demonstrated that capacity combined with hardwork can yield positive results.

According to the group, the cheering news about Port-Harcourt refinery coming on-stream this December; and improved crude production as well as drive for profit making under Kyari’s are enough evidence to exonerate his management of blame.

While stating that in the last four years , NNPCL has with records promoted transparency and accountability in barrels of oil the country produces and exports as well revenues generated from such production and exportation which were duly remitted, there is need for caution when apportioning blames .

The statement further reads: ” We want SERAP and the former Kano Emir to know under that the Kyari led Management of NNPCL did not only demonstrate a high sense of focus and commitment to uninterrupted and smooth operations of the National oil industry, but also posted its second consecutive year of ‘profit’ announcing N674.1 billion in the 2021 financial period and growing it from N287 billion in 2020. The figure represented an increase of N387 billion or 134.8% when compared to the previous N287 billion recorded in 2020.

Reacting to issue of transparency,the group which said Kyari’s reform programmes has enhanced transparency and efficiency in the operations of NNPCL. Adding that the idea of setting up of a new trading subsidiary, establishment of a new crude oil marketing division, and the implementation of a new performance management system enhanced accountability

The group further said ,” We want Nigerians to know that when Mele Kyari assumed duty as the Group Managing Director of the now-defunct NNPC on July 7, 2019, it was at a critical period, but with his appointment in 2021 by President Muhammadu Buhari as chief executive officer of the Nigerian National Oil Company Limited (NNPCL), and the implementation of the Petroleum Industry Act, which came into force in 2021, the TAPE became the standard for steering the new company forward in a global economy still reeling from the effects of the coronavirus pandemic, which devastated the world in 2020 and 2021.

“The on-going reforms has helped the company’s growth from a loss-making one into a profit-making commercial entity, as the efforts at checkmating crude oil theft and illegal refineries boost daily oil production.

“That Nigeria has regained its position as the largest crude oil producer in Africa, ahead of Algeria’s 1.021mb/d and Angola’s 1.088mb/d in November 2022 was not a case out of the blues, but someone’s action that was responsible for it .

“We are quick to forget that lingering fuel scarcity characterised by long queues at filling station are gradually becoming history, with constant availability of Premium Motor Spirit (PMS).

“It is no longer news that the $2.8bn Ajaokuta–Kaduna–Kano (AKK) gas pipeline project constructed by Oilserve Limited will be inaugurated December. The 614km-long pipeline to transport natural gas from southern Nigeria to central Nigeria.

“One of the landmark achievements of Kyari’s stewardship at NNPCL is the commencement of commercial oil to exploration in the Northern part of Nigeria.The Kolmani Oil Field, estimated to have a reserve of about one billion barrels of crude oil, OPL 809 and 810, lie in the Gongola Basin of the Upper Benue Trough, straddling Bauchi and Gombe States.

“We want the former Governor of the Central Bank of Nigeria, Sanusi Lamido Sanusi and SERAP to know that running affairs of NNPCL is not only issues of figures about how much oil produced daily or sold, but implementation of reforms that will help the federal government generate revenue and ensure sustainable progress and development of the national oil industry.”