Kyari challenges Tinubu’s Renewed Hope Agenda. Read about the implications for Tinubu’s vision and leadership.
The Economy Rescue Group, comprising of fifteen lawmakers, has urged Mele Kyari to step down from his position as the Chief Executive Officer (CEO) of Nigerian National Petroleum Company Limited (NNPCL).
The woes being recorded by President Bola Ahmed Tinubu’s administration were attributed to mismanagement under Kyari’s leadership at the NNPCL, as claimed by the group.
According to a press statement released in Abuja on Tuesday, Honourable Esosa Iyawe (representing Oredo Federal Constituency at the House of Representatives) has called for Kyari’s suspension until the joint Committee on Petroleum completes its forensic investigation.
The probe will evaluate both the state of the national oil company and downstream/midstream sectors as a whole.
Read Also: Dangote Refinery Controversy: Reps Target NNPCL Boss Kyari
The CEO and other members of the management staff at NNPCL were accused by lawmakers of undermining Tinubu’s Renewed Hope Agenda.
The legislators announced that they need to be removed until the forensic inquiry conducted by the House of Representatives’ Downstream and Midstream joint Committee concludes, in order to prevent any acts of sabotage.
The group supports the House’s inquiry into middlemen in trading, reckless licensing practices, lack of accessible laboratories to test for counterfeit goods, and influx of such items into the country.
As a recommendation to President Tinubu during this investigation period, they suggest suspending NNPCL’s top officials until it has concluded.
Fifteen lawmakers express without hesitation that the setbacks encountered by the Oil and Gas industry during President Bola Ahmed’s administration are primarily due to mismanagement and incompetence of Kyari while overseeing NNPLC. The solution lies in their honorable resignation for restoration.
Should they fail to resign voluntarily, the President must suspend them without delay while investigations are conducted by the House of Representatives’ joint committee on Petroleum: Downstream and Midstream.
The nation’s economy is still heavily reliant on the petroleum sector, and the allegations brought to light by the House requiring a forensic investigation are both astounding and shocking.
These issues pertain to the involvement of intermediaries in commerce, the reckless distribution of licenses, insufficient access to testing facilities for counterfeit goods, an influx of corrupted products into the nation’s markets and accusations surrounding profits derived from crude oil marketing sales not being declared locally.
The petroleum sector is impacted by unjust subsidies for PMS and other products, leading to decreased competitiveness. In addition, racketeering and preferential treatment occur in the Pro Forma Invoice System (PFI) regime whilst licenses are issued without proper scrutiny resulting in indiscriminate importation of refined petroleum goods.
The lawmakers accused the PMS price intervention of causing a ripple effect on the domestic market, making it difficult for marketers to access products from NNPC Retail. They also cited frequent delays in refinery rehabilitation timelines, nefarious activities at petrol depots leading to product scarcity and reliance on middlemen in trading as factors negatively impacting domestic crude supply.
They claimed that under Kyari’s watch, all these developments would hinder economic growth.
The individuals stated that it is evident the NNPCL management intends to sabotage Tinubu’s Renewed Hope Agenda through their incompetence, and therefore they should be suspended to facilitate a thorough investigation without obstruction.
Honourable Esosa Iyawe made a recent motion in the House that called for the suspension of Farouk Ahmed, CEO of Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). The reason behind this call was to investigate Ahmed’s comments regarding the quality of petroleum products produced at Dangote Refinery.
