The Nigerian National Petroleum Corporation (NNPC) Limited has denied any involvement in economic sabotage in the country’s petroleum industry.
Speaking to the Senate Ad-Hoc Committee on Wednesday, the Group Chief Executive Officer, Mr. Mele Kyari, assured that NNPC has adhered to all legal requirements in its operations.
“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 explained.
Kyari clarified that NNPC complies with laws on domestic crude oil supply and local refinery provision. He emphasized that these laws also stipulate the necessity for willing buyers and sellers in the market.
Addressing concerns about the importation of sub-standard petroleum products, Kyari stated, “NNPC Limited has nothing to do with that as the relevant regulatory agencies will, by law, not allow any sub-standard product into the country.”
Kyari also proposed that the committee’s interactive sessions be broadcast live on national television to ensure transparency and prevent misinformation.
Highlighting the challenges facing the petroleum sector, Kyari noted that despite having the infrastructure to produce two million barrels of crude oil per day, issues such as oil theft, pipeline vandalism, and lack of upstream investment hinder production.
Kyari proudly stated that NNPC, which is owned by over 200 million Nigerians, has transformed from a loss-making entity to a profitable organization. He reassured the committee of NNPC’s commitment to cooperation in the ongoing investigation, stressing the company’s loyalty and dedication to Nigeria’s progress.
“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.