NNPC Ltd denies economic sabotage allegations
The Nigerian National Petroleum Company Limited (NNPCL) has denied allegations of economic sabotage, insisting that it had not breached any laws guiding its dealings with partners.
According to him, the NNPCL had not done anything to sabotage domestic refineries, as the law clearly outlines domestic crude oil supply obligations and provides for local refineries.
The Group Chief Executive Officer, Mr. Mele Kyari, stated this while addressing the Senate Ad-Hoc Committee investigating alleged economic sabotage in the Nigeria Petroleum Industry at the National Assembly on Wednesday.
Kyari stressed that the refining business was transparent and required a secure source of feedstock and a market.
“Refining business is a straightforward business. You must secure (a source for) your feedstock and you must find a market. This is basic and this determines what happens in any refinery anywhere in the world. That is the business of refining. We have done nothing to sabotage any domestic refinery,” Kyari stressed.
On the alleged importation of sub-standard products, Kyari also absolved NNPC Limited of involvement as regulatory agencies would not allow such products into the country.
He, however, supported calls for live broadcasts of the Committee’s interactive sessions to guard against misinformation.
He also outlined the challenges bedevilling the sector, such as crude oil theft, pipeline vandalism and lack of investment in the upstream.
“We are faithful, loyal and committed to the progress and development of this country,” Kyari said.
While assuring the Committee of NNPCL’s loyalty and commitment to Nigeria, Kyari pledged full cooperation in the investigation.
He reaffirmed the company’s adherence to relevant laws and regulations.
“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 said.
