Leadership (Abuja)

Nigeria: CPC Links Rot in NNPC to Presidency

The Congress for Progressive Change (CPC) has expressed concern over the damning report of the Nigerian Extractive Industry Transparency Initiative (NEITI) on the state of affairs in the country's oil industry.

NEITI had reported on Thursday that it unearthed irregularities and arbitrariness in the operations of the Nigerian National Petroleum Corporation (NNPC) between 2009 and 2011.

In a statement yesterday, CPC national publicity secretary, Eng. Rotimi Fashakin, said the implication of the report, aside revealing the NNPC (under the Goodluck Jonathan regime) as a citadel of institutionalised corruption, there were other salient issues that left sour grapes in the mouth.

He asked: "Would the curious N318billion increment of the 2010 fuel subsidy payment over the 2009 figure explain the source of the hitherto unexplained huge campaign expenditure of President Goodluck Jonathan in the 2011 presidential election?

"How and where did the NNPC get the authorisation to deduct fuel subsidy payments from crude oil sales before remittance into the federation account? This, obviously, is in breach of the policy of the constitutional provision of remittance of all earnings to the federation account!

"Why did NNPC withhold the N1.305trillion meant to be remitted to the federation account over a three-year period? Where and who is still keeping the money?

"Why did NNPC refuse to remit the $4.73 billion collected from the NNLG over the two-year period (2009-2011)?

"Is it not capricious that, out of the 445,000 barrels per day meant for local consumption, NNPC sells 356,000 barrels per day, thereby making revenue amounting to about $35.6 million daily, despite the Nigerian people's continued suffering from prohibitive fuel sales without any reasonable palliative or safety nest?

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