April 20, 2024

Nigerian Forum For Good Governance Supports Sanusi, El-Rufai On Sale Of NNPC

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By Editor

Group under the aegis, ‘Nigerian Forum for Good Governance’ (NFGG) has supported the positions of the former Emir of Kano, Alhaji Sanusi Lamido Sanusi and the Governor of Kaduna State, Nasir El-Rufai, on sale of Nigerian National Petroleum Company (NNPC) following its abysmal performance over the years.

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According to the group, the Nigerian National Petroleum Company (NNPC)  has become more of a problem than an asset for economic growth and development.

In a statement titled, ‘NNPC is A Burden that Must Be Scrapped and Sold Entirely’,which was jointly signed by its Coordinator and Secretary, Mukhtar Ahmed Funtua, and Reuben Joseph Kajang, the group said, selling NNPC is the best alternative to cut off government’s dependence on oil and develop other sectors of the economy.

The group also said as concerned Nigerians with focus on good governance across all tiers of government and sectors of the economy, it totally agreed with  Sanusi on the position that the national oil has become a “money pit rather than a cash cow”,  considering the fact that the four refineries that were more or less comatose couldn’t meet up the purpose for which they were created.

Part of the statement reads,  “We are saddened that besides massive stealing of our crude oil, NNPC has not been able to make profit. It is laughable that as one of the major producers of crude in the world, we have continued to import refined fuel while exporting crude oil.

“It is also shameful that for over 40 years, it was unable to declare a Profit After Tax, until recently when it announced a concocted sum of 674 billion for the 2021 financial year.

“We make bold to say that NNPC under the President Muhammadu  Buhari led administration is a leaking basket for its inability to fix any of the four refineries that are apparently the only unproductive organisation, yet maintained full complimentary workforce on its payroll.

“This for us is adjudged foolhardy and detrimental to the economy. Worst still, It is one of the very few public companies that has refused to be accountable to even the government that set it up.”

However, while noting that it acknowledges the idea of commercialisation, it discovered that nothing per se has changed in the sector since July 2022. Noting that, “even with commendable efforts of the Group Chief Executive Officer of NNPC Limited, Mal. Mele Kyari to transform the company, it has failed”.

“We reiterate our stand that not only the NNPC that needs to be sold out, but all the refineries should also be sold out to individuals for efficiency and  stop the  spending billions of naira on paying salaries of redundant staff and maintaining non-functional refineries

“It is overt  fraud to complacently settle for importation of  refined petroleum product and paying heavy subsidy and these  must be discontinued before the next administration.

“We equally concur with Governor of Kaduna State, Mal Nasir El-Rufai on his submission that Nigerian National Petroleum Company Limited (NNPCL) has become a burden and big problem to Nigeria,” the statement added.

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