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Fuel theft: Senate tasks NNPC to initiate a comprehensive restructuring of its operations

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The Senate has advised that the Nigerian National Petroleum Corporation (NNPC) goes beyond the sacking and redeployment of a few officials involved in fuel theft and other sharp practices in the industry.

The upper legislative chamber gave the advice in a statement issued yesterday in Abuja by its spokesman and chairman, Senate Committee on Media and Public Affairs, Aliyu Sabi.

The Senate tasked the NNPC to initiate a comprehensive restructuring of its operations which currently allowed officials and other firms to appropriate national resources for their personal use, thereby contributing to the suffering of the people.

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“The Senate is appalled that NNPC is not contemplating on doing something about the involvement of officials of the Petroleum Products Marketing Company (PPMC) which actually played key roles in the missing products case.

“It is instructive that NNPC did not do anything on the case until the matter was raised on the floor of the Senate and the press picked the matter up from the motion.

The unauthorised sale of 132 million litres of fuel kept in the storage tanks of MRS and Capital Oil, designated as strategic reserves, is a grave occurrence. “This probably is not the first time it is happening and NNPC must review its operations.

It should, in fact, carry out a shake-up in the PPMC,” Sabi stated. It will be recalled that, following the Senate’s debate of the motion on the theft of the fuel, the NNPC sacked three senior officials and redeployed a few others.

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NNPC’s spokesman, Ndu Ughamadu, said the sacking and deployment were in line with the ongoing reforms the corporation initiated to cleanse it of corruption. The NNPC lost 130 million litres through a breach in its throughput transactions with MRS and Capital Oil.

However, MRS had returned the product it sold from the stock, but Capital Oil is yet to refund the 82 million litres it sold. The missing fuel sold by Capital Oil is valued at N11 billion.

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