The GMD of NNPC and the minister of state for Petroleum Ibe kachukwu gave us a “cheering news” yesterday. He said he has been able to cut down NNPC indebtedness from 60 billion naira six month ago to 3 billion naira this month. What he just told us was that 54 billion naira was saved within 6 months? It was saved with practically the same number of staff in the NNPC, does that make any sense? If it were Kachukwu’s personal business won’t he demand for a serious anti-fraud check-up and close shop? He instead said there would be major re-organization of NNPC into different entities. This would never work.
NNPC should cease to exist, it is simple! You have an organization that is just there to service itself on the country’s collective wealth. In NNPC, the idea is in the system that Nigeria’s crude oil and gas is NNPC’s. This has been implanted in the mindset of the staff which is quite sad. The way it is, NNPC collects its share (which is determined by NNPC) of the revenue from crude oil sales and remits whatever she feels like into the federation account. Mind you, they would still get something from the same federation account. Why do we need this “wayo-wayo” organization?
NNPC is in charge of refineries that, the same organisation has double-crossed their operations. The refineries have refused to work because it doesn’t play into the narrative of the import-oriented egg heads in that “wayo-wayo behemoth”. It is only in Nigeria that the operation of refineries has been made a very complicated issue. We have 4 refineries yet we couldn’t operate any successfully because the way the NNPC is constituted it wouldn’t work. Mind you, these guys are very educated people but the normal mindset of Nigerians when they are in charge of public resources is the real issue. NNPC is just beyond redemption.
In Nigeria oil and gas projects, the interests of the NNPC egg-heads must be serviced, if not, no deal. There are so many projects that many people in the sector know that NNPC people killed out of greed and selfishness. They just want their cut and once they can’t see anything in there for them, the proposed project is as good as dead. Why not ask why Nigeria never improved on the 2.1 million barrels/day despite the abundant reserves we’ve got? This has now come back to haunt us because of the NNPC guys.
NNPC is running NPDC and I can tell you that NPDC is a black box. No one can accurately provide the actual details of revenue and production profile of the NPDC in the last 6 years. NPDC was used as a conduit pipe for siphoning crude oil sales without any monitoring whatsoever. NNPC has brought nothing but trouble to this country. NNPC as it were cannot be seriously sustainable.
The question we should actually ask is what constitutes the debt for NNPC ? why would NNPC be constantly in debt of multi billion naira at every point in time when the only function of NNPC is to manage crude oil sales and production for the government? NNPC has turned itself into a “rogue organization”. The earlier someone puts a stop to it the better for all.
NNPC doesn’t need re-organization, it needs to be dissolved….ewolewoo!!
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