September 01, (THEWILL) — The stunning disclosures on the deep-seated corruption and operational decay at the nation’s refineries, especially the Port Harcourt facility, by the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mr. Bayo Ojulari, should serve as the beginning point for a full-scale judicial inquiry into the company’s activities under GCEO Engr. Mele Kyari’s leadership.
Mr. Ojulari, during a meeting with the leadership of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), stated that from an audit of the refinery, his new management found out that the NNPCL was losing between ₦300 million to ₦500 million monthly across its refineries. He revealed that the Port Harcourt refinery was a major drain, consuming vast resources without any commensurate output.
He further added that despite pumping approximately 950,000 barrels of crude into the facility, less than 40 percent of the inputs were being processed, resulting in Nigeria receiving “mid-grade, substandard products because only half of the refinery was functional.”
According to him, “years of willful neglect and deceit” had made any attempt at rehabilitation exceptionally difficult.
Ojulari’s choice of words is not only damning of the company’s past management but also indicative of the reason for immediate arrests, probes, and prosecution of those found to have been culpable in running the company aground.
We recall that Kyari’s management always regaled Nigerians with declared profits and made subsidy claims to the Federal Account Allocation Committee, FAAC. All these declarations, it appears now, were for public relations purposes.
If the new helmsman at the NNPCL could make these alarming disclosures, we see no reason why the government should not proceed with the launching of a full-scale investigation into the activities of Kyari’s management.
We say this because Mr. Ojulari also expressed the need to enter into a partnership with foreign expertise, most probably Petrobras of Brazil, following the recent MoUs signed by President Tinubu during his 2-day visit to the South American country. As a state-owned company, the NNPCL would need to start on a clean note by cleaning the Augean stable for a new partner to take it seriously.
As the Minister of Petroleum Resources, President Tinubu should handle this matter decisively. It falls squarely on his table. It should not be left to the Economic and Financial Crimes Commission (EFCC) or the Independent Corrupt Practices and Other Related Offences Commission (ICPC). Some form of high-level intervention, like the presidency, needs to handle this matter with the urgency it deserves.
