The Group Chief Executive Officer of NNPC Limited, Mr. Mele Kyari, asserted that the company has not violated any enabling laws in its dealings with partners and should not be implicated in claims of economic sabotage.
According to Chief Corporate Communications Officer NNPC Ltd. Abuja Olufemi Soneye, Kyari stated this while addressing the Senate Ad-Hoc Committee investigating alleged economic sabotage in the Nigerian petroleum industry at the National Assembly on WednesdaKyy.
He emphasized that the refining business is straightforward, and any investor should understand the basics before entering the market.
“Refining business is a straightforward business. You must secure a source for your feedstock and find a market. This is basic and determines what happens in any refinery anywhere in the world. We have done nothing to sabotage any domestic refinery,” Kyari stated.
Kyari clarified that the law clearly outlines domestic crude oil supply obligations and provisions for local refineries. However, he added that there must be a willing buyer and a willing seller.
Regarding allegations of importing sub-standard products, Kyari noted that NNPC Limited is not responsible, as regulatory agencies ensure no sub-standard products enter the country.
Kyari supported the call for the Ad-Hoc Committee sessions to be broadcast live on national television to prevent misinformation. He explained that despite having the infrastructure to produce two million barrels of crude per day, challenges such as crude oil theft, pipeline vandalism, and lack of investment in the upstream sector hinder the industry.
He highlighted that NNPC Limited, owned by over 200 million Nigerians, has transitioned from a loss-making to a profit-making entity. Kyari pledged full cooperation with the Committee’s investigation and assured that NNPC Limited, its board, management, and staff remain committed to Nigeria and adhere to the Petroleum Industry Act (PIA), the Company & Allied Matters Act (CAMA), and other 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 concluded.
