On Monday the Conference of Nigeria Political Parties (CNPP) said it has been vindicated by Peter Obi, Nasir El-Rufai, and Sanusi Lamido regarding the Nigerian National Petroleum Company (NNPC) Limited.
In recent days, the ex-Anambra Governor, Kaduna helmsman and ex-Emir of Kano, asked the federal government to privatize the Government entity.
Their suggestion was hailed by a group which said the national oil company has become a burden rather than an asset for economic growth and development.
The CNPP said the comments by experts have again brought to the front burner issues bordering on the “corruption and manipulation of figures” by the NNPC.
“On the day President Muhammadu Buhari inaugurated the current management of the NNPC Limited, he practically renamed and finally incorporated corruption in the oil sector”, CNPP Secretary General, Willy Ezugwu said in a statement.
Ezugwu accused the NNPC of claiming “questionable annual profit declaration” to blindfold Nigerians and the President, who holds the Minister of Petroleum Resources position.
He said within one week, three prominent individuals who should know have questioned the viability of the company and the competence of the leadership.
Ezugwu noted that the Labour Party (LP) presidential candidate repeatedly took a swipe at the management and asked them to resign.
El-Rufai, he added, said though the Group CEO Mele Kyari was trying his best, the company has failed and has no business being in the sector.
“NNPC claims that subsidy has taken all the oil revenues, I don’t believe that. Nothing has changed for NNPC other than adding ‘L’ to it for the limited. They are still declaring profits that we don’t see the dividends”, Ezugwu quoted the governor saying.
Sanusi, a former Central Bank of Nigeria (CBN) governor, at the Kaduna Investment Promotion Agency summit, said unbelievable fuel consumption figures were being released by NNPC Limited on daily basis.
“In, 2019, officially we were importing 40 million litres per day. In 2022 officially, we are importing 66 million per day. In three years, we have increased our petrol consumption by 50%.
“Please tell me, is it the population? Is it the number of cars? Just ask yourself if it makes sense that in three years you increase your consumption of petrol by 50%. Are we drinking petrol?” He queried.
The CNPP recalled its recent advice to President Buhari to allow private sector players take charge of NNPC Limited.
Ezugwu wondered how long Nigerians would endure “the manipulated figures coming from the NNPC year in and year out”.
The statement said NNPC declared N674bn profit after tax for year 2021 even though funds spent on subsidy continue to skyrocket.
Noting that Obi, El-Rufai, and Sanusi have vindicated the body, the CNPP reiterated its call for the sack of the current NNPC management team and board to avert the total collapse of the economy.