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The Nigerian National Petroleum Corporation has stated its readiness for the proposed reform plan of in-coming President, Gen. Muhammadu Buhari (retd).
This is in reaction to a recent report indicating that Buhari was going to start his ‘change agenda’ in the corporation, the Group General Manager, Group Public Affairs Division, NNPC, Mr. Ohi Alegbe.
He said there was no pressure on the corporation at the moment, as everybody in the system had been busy doing their job.
“There is no pressure on us; no panic anywhere. There is no panic at the NNPC,” he said.
A recent report by Reuters had indicated that Buhari had picked the petroleum industry as his most urgent sector priorities.
Senator Bukola Saraki of the APC was quoted to have said, “We need to address the structural issues and leave the fiscal for now. A more transparent NNPC is needed with reasonable accounting.”
A top Ministry of Petroleum source, who would not want to be named, said instructions had been given to ministries, departments and agencies of government to tidy their books following the recent development at the federal level of government.
The source explained, “Everybody is tidying up their books so that those coming in will have the correct books to work with. The way instructions were given to all the MDAs is the same way NNPC was instructed.”
This development, he explained, was to ensure there was no vacuum in the system, as government was supposed to continue to run its affairs as a continuum.
The long-awaited Petroleum Industry Bill was meant to change everything from fiscal terms to overhauling the NNPC, environmental rules and revenue sharing, but its comprehensive nature caused disputes between lawmakers.
Uncertainties over the fiscal terms of the bill have been holding back billions of dollars of investment, especially into capital-intensive deepwater offshore, leading some to propose the bill be broken up into several pieces debated separately.
Four months after the Federal Government said it was going to intensify the search for oil in the Chad Basin in 2015, our correspondent learnt on Wednesday this week that nothing had yet to happen in that regard
In the face of dwindling oil reserves, the Federal Government, at the end of 2014, had said it would intensify the search for oil in the Chad Basin area.
It said the prevailing security challenges in the area would not deter it from the mission.
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