Senate Threatens NNPC's Kyari With Sack, Jail Term as Refineries Fail to Work After Gulping N12trn
- The Senate revealed that Nigeria's refinery has failed to work despite trillions spent on them
- The NNPC MD, Mele Kyari, and important heads were not present for the session to discuss the issue
- The House threatened to sack the heads of some agencies involved and possibly send them to jail
Legit.ng journalist Zainab Iwayemi has over three years of experience covering the Economy, Technology, and Capital Market.
The Senate has threatened to sack and jail the Group Managing Director of Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari and other top executive officers of petroleum subsidiaries.
The lawmakers stated this after highlighting that from 2010 till date, over N12 trillion has been spent on Nigerian refineries' Turn Around Maintenance (TAM) projects, yet none of the refineries is working.
Source: UGC
The Senators were further infuriated by the failure of Kyari and other chief executive officers of the petrol subsidiaries to make themselves available at an interactive session organized by the panel to discuss the TAM.
The bosses of the oil sector agencies, including the Nigerian National Petroleum Company Limited (NNPCL), Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) however, sent their representatives for the crucial session.
Refinery not working despite trillions spent
According to The Nation, Senator Isah Jibrin, the Chairman of the Senate Ad-hoc Committee investigating the various Turn Around Maintenance (TAM) projects of Nigerian Refineries, pointed out that a large amount of money has been spent on the refineries that are still not working.
He said:
We will ask for refund and dismissal of all the chief executives involved in the Turn Around Maintenance.
Demanding the presence of the CEO, the senator said that the oil companies have failed to submit the documents asked of them.
Between 2010 and 2020, he said the sum of N4.8 trillion was spent on operational expenses.
He also questioned the operational expenses related to the purchase of raw materials and similar costs in moribund factories.
He said:
These are issues that Nigerians want to know; they want solutions to all these leakages. We know they are leakages. Whether you accept it or not they are leakages and they are all forms of compromise within your various establishments.
He said that the Senate would not hesitate to escalate the issue to the highest possible level, which may lead to the possibility of a refund and outright dismissal of some of the heads of some of these agencies and possibly jail time.
Meanwhile, Legit.ng had reported that OPEC earlier revealed that Nigeria is about to witness the establishment of small modular refineries with 20,000 bpd capacity in the medium term.
Nigerian Government May Lose 20% Ownership in Dangote Refinery as NNPC Fails to Supply Crude Oil
Legit.ng reported that Nigeria risks losing a significant part of its equity in the Dangote refinery.
According to a source at the Ministry of Petroleum Resources in Abuja, it failed to meet the obligations under which the equity acquisition was agreed.
Recall that the 650,000 barrels-a-day Dangote refinery was commissioned in May. Since then, the refinery has continued to wait on the supply of crude oil.
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Source: Legit.ng
