Mr. Mele Kyari, the Group Chief Executive Officer of NNPC Limited, has emphatically stated that the company has not violated any laws in its dealings with partners and should not be implicated in any claims of economic sabotage.
Addressing the Senate Ad-Hoc Committee investigating alleged economic sabotage in the Nigerian Petroleum Industry at the National Assembly on Wednesday, Kyari clarified that the refining business is straightforward, with clear requirements for securing feedstock and finding a market.
“Refining is a straightforward business. You must secure your feedstock and find a market. This is basic and applies to refineries globally. We have done nothing to sabotage any domestic refinery,” Kyari stated.
Kyari emphasized that domestic crude oil supply obligations are clear under the law, as is the provision for local refineries. However, he noted that the law also mandates that transactions must involve a willing buyer and a willing seller.
Regarding the alleged importation of sub-standard products, Kyari clarified that NNPC Limited is not involved, as regulatory agencies are responsible for ensuring that no sub-standard products enter the country.
Kyari supported the idea of broadcasting the Committee’s interactive sessions live on national television to prevent misinformation. He highlighted the sector’s challenges, including crude oil theft, pipeline vandalism, and lack of investment in the upstream sector, despite having the infrastructure to produce two million barrels of crude per day.
He noted that NNPC Limited, a company owned by over 200 million Nigerians, has transformed from a loss-making entity to a profit-making one. Kyari pledged full cooperation with the Committee’s investigation and reaffirmed the company’s commitment to Nigeria, adhering to the Petroleum Industry Act (PIA), the Company & Allied Matters Act (CAMA), and other relevant laws.
“We are faithful, loyal, and committed to the progress and development of this country. It is our duty to protect the overall interest of this great nation. We have not breached any rules,” Kyari concluded.
