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The Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, firmly denied allegations of the organization’s involvement in the importation of substandard petroleum products, asserting that NNPC is not involved in economic sabotage. Speaking before the Senate Ad-hoc Committee led by Senator Opeyemi Bamidele (APC, Ekiti Central) on Wednesday, Kyari stressed that NNPC adheres to all regulatory standards and is committed to protecting the nation’s economic interests.
Kyari emphasized, “We are not criminals and we are not thieves. We will protect our dignity so we can serve this country.” He added that the company is under undue media attack from those attempting to portray NNPC as undermining the economy. According to Kyari, “The oil and gas industry is bleeding, and there are things I know but cannot discuss publicly until the time comes.”
Kyari affirmed that NNPC operates within the legal framework established by the Petroleum Industry Act, the Company and Allied Matters Act, and other relevant laws. He declared, “NNPC has nothing to do with imports of products that are substandard. If it does happen, it’s a crime, and it couldn’t have passed through any regulatory institution.”
Also speaking, the Dangote Group’s Chief Strategy Officer, Aliyu Sulaiman, praised NNPC for its substantial supply of crude oil, noting that 60% of their recent crude oil purchase came from NNPC. He urged stakeholders to support the growth of the Dangote refinery, which has been producing and selling petroleum products domestically and internationally.
The National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Alhaji Abubakar Shettima, called for an end to monopoly in the petroleum sector and urged NNPC to improve product supply to retail outlets to eliminate fuel queues.
Minister of Finance Wale Edun highlighted that increased crude production would stabilize the foreign exchange market, while Minister of State for Petroleum Heineken Lokpobiri reiterated the government’s commitment to refinery rehabilitation and support for the Dangote refinery and modular refineries.
Senate Leader and Chairman of the Ad-hoc Committee, Senator Bamidele, criticized the ineffective use of $1.5 billion approved in 2021 for the turnaround maintenance of the Port Harcourt Refinery. He lamented the dependence on imported petroleum products despite significant investments in state-owned refineries. Bamidele stressed the need for a comprehensive investigation into economic sabotage in the petroleum industry, promising that the Senate would conduct the inquiry fairly and impartially.
