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El-Rufai wants NNPC scrapped

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El-Rufai to Pastor: Tell me the date I will die

Kaduna State governor, Mallam Nasir el-Rufai, has called for the scrapping of the Nigeria National Petroleum Corporation (NNPC) and setting up of another national oil firm.

Speaking at the 7th Wole Soyinka Centre Media Lecture Series in Abuja, on Monday, el-Rufai said: “If you don’t kill the NNPC, it will kill Nigeria.”

According to him, the oil firm is riddled with corruption and until it is destroyed completely and rebuilt from the scratch, there will be no headway for Nigeria.

El-Rufai argued that with his experience as a former Director-General of the Bureau of Public Enterprise (BPE), it was possible to destroy a bad organisation and turn it into a good firm.

He said the corporation has become so corrupt and arrogant that it runs a parallel government and unilaterally decides what it remits to a nation of 170 million people, while its hundreds of employees feed fat on Nigeria’s resources.

According to him, NNPC only remitted 42 per cent of Nigeria’s oil money and remitted only 58 per cent in the last three years, and hoped that President Muhammadu Buhari will implement the proposal for a new national oil firm.

“The long and short of the situation of our oil industry is best exemplified by the parallel government called the NNPC. In 2012, it sold N2.77tn of ‘domestic’ crude oil but paid only N1.66tn to the Federation Account. In 2013, it earned N2.66tn but paid N1.56tn to FAAC; in 2014, (it earned) N2.64tn, but remitted N1.44tn; while between January and May 2015, it earned N733.36bn and remitted only N473.2bn.

“That means that the NNPC only remitted about 58 per cent of the monies earned between 2012 and the first half of 2015. A company with the audacity to retain 42 per cent of a country’s money has become a veritable parallel republic!”

Read also: GEJ spent nearly half of nation’s income to run NNPC -FG

He said the examples he gave were only with respect to domestic crude oil sale. “Similar leakages exist in the NPDC, NAPIMS procurement and subsidiary budgets,” he said.

He added that the NNPC feels entitled to consume more resources than the 36 states, the FCT and the Federal Government combined, wondering how a country so dependent on oil revenues has been so lax about the proper governance, efficiency and security of its oil industry.

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  1. Don Lucassi

    July 14, 2015 at 8:29 am

    Oga El – Rufai, I like you a lot but you need to calm down and not be stirring whats not worth stirring. If you feel scrapping NNPC is the way to go, make a proposal and submit to the president. In your proposal, you can state all your points and also a workable better alternative.

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