Representatives investigate NNPCL as protesters complain of fuel crisis – Nigeria – The Guardian Nigeria News – Nigeria and World News

• Demand a Kyari bag

The Public Accounts Committee (PAC) of the House of Representatives yesterday constituted two subcommittees to determine the debt status of the Nigerian National Petroleum Company (NNPC) Limited and other companies in the oil and gas industry.

Both subcommittees will be chaired by Vice-Chairmen Jeremiah Umaru and Olusola Fatoba. The Public Accounts Committee, chaired by Rep. Bamidele Salama, took the decision following an issue raised in the Auditor General’s 2021 report on the consolidated financial statements against the Nigerian Petroleum Regulatory Commission (NUPRC).

Three issues were raised in the report to the commission. The issues are as follows: “Unpaid royalties from NNPC-COMF MCA/PSC totaling US$253,952,693.07; NNPC’s unjustified deductions from joint venture royalties prior to their remittance to DPR (now NUPRC) totaling US$204,853,744,047.39.

The investigation began when protesters stormed the Nigerian National Petroleum Company (NNPCL) towers in Abuja yesterday demanding an investigation into the estimated $4 billion allocated for the rehabilitation of the Port Harcourt, Warri and Kaduna refineries.

The demonstrators also demanded the immediate resignation of NNPCL Group CEO Mele Kyari. They described Kyari’s leadership as incompetent, citing rising fuel prices, endless queues for fuel and economic difficulties.

Waving placards with various messages calling for an end to the import of adulterated fuel that causes pain and grief, the protesters demanded complete deregulation and an end to subsidies.

Speaking on behalf of others, Abdullahi Bilal said they came to the NNPCL headquarters to demand an end to subsidy payments and complete deregulation, stressing that the current subsidy regime enriches a select few while complete deregulation will ensure transparency and fairness.

Bilal also called for an end to the import of adulterated fuel, a harmful practice he said must be stopped immediately and those responsible must be brought to justice.

The protesters also highlighted the failure of the Dangote refinery to solve Nigeria’s fuel crisis despite spending billions. Mismanagement led to 24.5 percent inflation and a 200 percent rise in fuel prices, pushing millions of people into poverty, Bilal said. He called on President Bola Tinubu to relieve Kyari of his duties and immediately implement petroleum sector management reform.

They vowed to continue mobilizing until their demands are met, pushing for accountability and real progress in Nigeria’s oil sector.
“The Two Million March is the united voice of every citizen who has been betrayed by a system that continues to enrich the few at the expense of the many.

“Today we call for the immediate resignation of Mele Kyari, the Group Chief Executive Officer of NNPCL.

“His leadership has failed Nigerians. Under his leadership, we have seen fuel prices skyrocket without any consultation or consideration of the devastating consequences for people. We are facing fuel shortages while low-quality, adulterated fuel is being imported, leading to more hardships,” Bilal said.