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The Nigerian National Petroleum Company (NNPC) Limited has been defended, according to the Conference of Nigerian Political Parties (CNPP), by Peter Obi, Nasir El-Rufai, and Sanusi Lamido.
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Recently, the former governors of Anambra, Kaduna, and Kano requested that the federal government privatize the government institution.
A group that said the national oil firm has turned into a liability rather than a resource for economic growth and development applauded their proposition.
The CNPP said that the expert views had once more raised concerns about “corruption and figure manipulation” by the NNPC.
President Muhammadu Buhari “practically rebranded and ultimately included corruption in the oil sector on the day he inaugurated the current administration of the NNPC Limited,” said CNPP Secretary General Willy Ezugwu in a statement.
Ezugwu charged that the NNPC was using the “questionable yearly profit declaration” to deceive the Nigerian people and the President, who serves as the country’s Minister of Petroleum Resources.
He claimed that within a week, three well-known figures who ought to know had questioned the organization’s survival and the leadership’s skill.
Ezugwu pointed out that the presidential candidate for the Labour Party (LP) frequently insulted the administration and demanded their resignation.
El-Rufai, he said, claimed that despite Group CEO Mele Kyari’s best efforts, the business had failed and had no business operating in the industry.
“NNPC asserts that subsidies have siphoned out all oil income, but I don’t buy that. Other than adding a “L” for the limited, nothing has changed for NNPC. They continue to report profits even though we haven’t received any dividends, the governor was reported as stating by Ezugwu.
At the Kaduna Investment Promotion Agency meeting, Sanusi, a former Central Bank of Nigeria (CBN) governor, claimed that NNPC Limited consistently released data on petroleum consumption that were ridiculous.
“Officially, we imported 40 million liters per day in 2019. Officially, we are importing 66 million each day in 2022. We have increased our fuel use by 50% in the last three years.
“Tell me, please, is it the populace? Is it the quantity of vehicles? Simply consider whether it makes sense to consume 50% more gasoline in three years. Are we consuming gasoline? ” He asked.
The CNPP remembered its most recent recommendation to President Buhari to let businesspeople in the private sector take control of NNPC Limited.
How long would Nigerians put up with “the distorted data coming from the NNPC year in and year out?” pondered Ezugwu.
According to the release, NNPC reported N674 billion in profit after tax for the year 2021, despite the fact that subsidy spending has continued to soar.
The CNPP renewed its request for the dismissal of the current NNPC management team and board in order to prevent the complete collapse of the economy, noting that Obi, El-Rufai, and Sanusi had defended the body.
