NNPC Ltd Denies Allegations of Economic Sabotage, Defends Operations.
Kyari made this statement on Wednesday while addressing the Senate Ad-Hoc Committee investigating allegations of economic sabotage within Nigeria’s petroleum industry at the National Assembly. He emphasized that the refining business is straightforward, with clear expectations for securing feedstock and finding 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 asserted.
Kyari clarified that the law governing domestic crude oil supply is explicit about the obligations for local refineries. However, he noted that the law also stipulates that transactions must involve a willing buyer and a willing seller, countering any claims that NNPC Ltd has obstructed the operations of domestic refineries.
Addressing accusations of importing sub-standard products into the country, Kyari stated that NNPC Ltd has no role in such activities. He pointed out that regulatory agencies are responsible for ensuring that only quality products enter the Nigerian market.
In a bid to maintain transparency, Kyari supported the idea of broadcasting the committee’s sessions live on national television, ensuring that Nigerians are accurately informed.
Kyari also highlighted the challenges facing Nigeria’s oil sector, including crude oil theft, pipeline vandalism, and a lack of investment in the upstream sector. Despite these obstacles, he noted that NNPC Ltd has transformed from a loss-making entity into a profit-generating company, serving over 200 million Nigerians.
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He pledged NNPC Ltd’s full cooperation with the Senate Ad-Hoc Committee’s investigation, reiterating the company’s commitment to acting in accordance with 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 concluded.
