Most problems in petroleum industry not NNPC’s fault, Mele Kyari tells senate panel

Mele Kyari, group chief executive officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited, says most problems in the country’s petroleum industry have nothing to do with his organisation.

Kyari spoke when he appeared before an ad hoc senate committee on Wednesday.

The committee, led by Opeyemi Bamidele, the senate majority leader, is probing the alleged importation of substandard petroleum products into the country.

The GCEO said NNPC is protecting the country’s interest.

“NNPCL is loyal and faithful to the country,” Kyari said.

“[Most problems in the petroleum industry] have nothing to do with NNPCL. We are faithful and loyal to the economic interest of this country.

“We are not criminals. We are not thieves. But we will protect our dignity and honour.”

Earlier, the committee raised questions about a sum of $1.5 billion approved by the Muhammadu Buhari administration in 2021 for the rehabilitation of the Port Harcourt refinery.

Bamidele said the investment had not yielded any results.

“In 2021, specifically, the Federal Executive Council approved $1.5 billion for the turn-around maintenance of the Port Harcourt refinery,” he said.

“Yet, this investment has not yielded significant returns.

“For us, in the senate, we believe it is unfair and unpatriotic to treat government businesses or public corporations as an orphan while private businesses are flourishing and thriving.

“From our findings, we will craft a legislative framework that will entrench global best practices in the industry; open it up for more investments, especially in the midstream and downstream sectors and end vicious regimes of subterfuge in the petroleum industry.

“We are utterly committed to this mandate. We shall carry it out without fear or favour.

“We shall be equitable, fair and just to all parties with a view to promoting and protecting the strategic national interests of our fatherland.”

Bamidele added that his committee would carry out its probe with “honour and responsibility”.