A coalition of 19 civil society groups under the umbrella of Mega National Movement for Good Governance (MNMGG), has expressed “deep concerned” over the instability of prices of petroleum products resulting in policy somersault.
Addressing a press conference at the weekend in Kaduna, Ibrahim Tijani, spokesperson of the group, also lamented
“the sudden scarcity of fuel, particularly, the Federal Capital Territory (FCT), major cities and towns, allegedly caused by rumours that the Independent Petroleum Marketers of Nigeria (IPMAN) may hike fuel prices within the week.
Tijani further said the coalition
was “worried also by mounting allegations of fraud, embezzlement, and
corruption within the Nigerian National Petroleum Company Limited (NNPCL) since the appointment of Engr. Mele Kyari as Group Chief Executive Officer.”
“As a coalition of patriotic groups, we have identified allegations of significant irregularities within the NNPCL, including fuel subsidy scams, under-remittance of oil sales revenue, corruption, shady pipeline surveillance contracts, and oil theft.
“These issues have had a collective detrimental effect on the majority of Nigerians, while benefiting only a few greedy individuals”, Tijani said.
According to him, “These actions not only undermine the company’s financial stability, but also have far-reaching consequences for stakeholders and the overall economy.”
The group alleged that, “Among the numerous cases of financial impropriety against Kyari, is the deduction of N2.1 trillion from the monthly revenue of NNPC, which was not remitted to the Federation Account…
“Jijani called for thorough investigations into alleged massive corruption and fraudulent diversion of billions of dollars to personal and cronies’ accounts.
The group said, “Considering that NNPCL recently transitioned to a private company in line with the Petroleum Industry Act (PIAAct, 2021), it is no longer allowed to have recourse to state funds.
“Its shares and assets, including oil blocks and refineries, are now held by the Ministries of Petroleum and Finance. “However, NNPCL has failed to operate as a Joint Production Venture (JPV) with Western Oil Majors (WOM), as required by law.
“Furthermore, the NNPCL has not been transparent in publishing its crude oil contracts and statements of accounts under Kyari’s leadership.
“Lack of remittances to the federation Account In 2022, Kyari and the NNPC management failed to remit any funds to the Federation Account for seven consecutive months.
Despite Nigeria recording N16 trillion in oil sales during that year, the NNPC did not make any remittances.
“This lack of financial responsibility is unacceptable and raises serious questions about the management of the company’s revenues…
“As concerned and patriotic citizens, we believe that the government should be interested in knowing the true nature of NNPCL’s oil production contracts and remittances to the Federation Account, as well as the transparency of pipeline surveillance contracts awarded by the NNPCL in line with global best practices.
“We had expected the President Bola Tinubu administration to insist on the implementation of the PIA or the PIB Act, not only to sack and probe Kyari but also other key figures in the NNPCL…
“It is crucial to address these allegations, conduct a thorough investigation, and prosecute those responsible for corruption and fraudulent practices.
“Restoring transparency, accountability, and financial stability within the NNPC is essential for the well-being of the Nigerian economy and its citizens.”
