By Adewale Sanyaolu and Adanna Nnamani (Abuja)
The Group Chief Executive Officer of NNPC Limited, Mr. Mele Kyari, has totally refuted claims that the national oil company was sabotaging the country, insisting that it has adhered to all governing laws designed to engender energy security.
Kyari stated this on Wednesday during his address to the Senate Ad-Hoc Committee investigating alleged economic sabotage in Nigeria’s petroleum industry, held at the National Assembly.
In a statement released by the company’s spokesperson, Olufemi Soneye, Kyari emphasised that the refining business is straightforward, requiring secured feedstock and a reliable market.
“Refining business is a straightforward business. You must secure your feedstock and find a market. This is basic and determines what happens in any refinery worldwide. We have done nothing to sabotage any domestic refinery,” Kyari asserted. He clarified that the laws are explicit about the domestic crude oil supply obligation and support for local refineries. However, he noted that the same laws require a willing buyer and a willing seller.
Addressing allegations of importing sub-standard products, Kyari stated that NNPC Limited was not involved in such activities, as regulatory agencies ensure that only standard products enter the country.
Kyari advocated for the Ad-Hoc Committee’s sessions to be broadcast live on national television to prevent misinformation. He highlighted the sector’s capacity to produce two million barrels of crude oil daily but cited challenges such as crude oil theft, pipeline vandalism, and lack of investment in the upstream sector as major hindrances.
He emphasised NNPC Limited’s transformation from a loss-making entity to a profit-making company owned by over 200 million Nigerians. He pledged full cooperation with the Committee’s investigations, reiterating the company’s commitment to Nigeria and its adherence to the Petroleum Industry Act (PIA), the Company & Allied Matters Act (CAMA), and other relevant laws.
“We are faithful, loyal, and committed to the progress and development of this country. It is our duty to protect the overall interest of this great nation. We are not in breach of any rules,” Kyari noted.