NNPC: "Anything FG Tries to Be Involved in Gets Messed Up", APC Governor Spills
- If the federal government does not sell off the NNPC Limited to private individuals, the firm will ruin Nigeria
- This was the position and fear of Governor Nasir El-Rufai of Kaduna state on Thursday, October 13, when he spoke on subsidy removal
- Governor El-Rufai claimed that the oil and gas company has failed to make any significant contribution to Nigeria's revenue since the beginning of 2022
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Kaduna - The Kaduna governor, Nasir El-Rufai, on Thursday, October 13, lashed out at the Nigerian National Petroleum Company (NNPC) Limited.
At KADINVEST, an economic summit in Kaduna, Governor El-Rufai called on the federal government to hand over Nigeria's oil and gas sector to private hands, insisting that if this is not done, the industry will eventually ruin the country.
Source: UGC
NNPC Limited brings no financial value to Nigeria - El-Rufai
Speaking at the summit on Thursday, El-Rufai, who argued that the government has no business refining crude oil, claimed that the NNPPC Limited has not made any substantial contribution to Nigeria's revenue in 2022.
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Opening up further, he lamented that anything the government tries to be involved in gets messed up in the end, The Cable reports.
His words:
“Any sector that the federal government tries to get into gets messed up. Any area that the government can get out of… it should.
“When I say the government should get out of oil and gas, people shouldn’t think it’s crazy, it’s not. There is no reason the government of Nigeria should be in the oil and gas sector. It has failed by every measure, they should just get out.
“This year NNPC hasn’t brought N20,000 to the federation account. We are living on taxes. It is PPT, royalties, and income tax that is keeping this country going."
In his view, the company is a big problem to Nigeria that cannot be solved unless the government hands off it.
The over stated:
“NNPC is a big problem to Nigeria and unless we resolve it, it will bring Nigeria to its knees. It’s a systemic and institutional problem, it’s beyond one person.”
NNPC's claim on subsidy not true - El-Rufai
Governor El-Rufai added that he does not believe NNPC's claim that subsidy has taken all the oil revenues.
Moreover, advising the President Buhari-led administration on how to generate revenue, the governor urged it to "...get out of whatever is left of electricity. Leave it to the private sector. Maintain the environment..."
In seven months, NNPC remits nothing to federal government
NNPC has not remitted into the federation account for seven consecutive months as it battles huge subsidy payments.
The company, which said it is adopting the Saudi Arabia-owned Aramco model, has deducted funds meant for the Federation Accounts Allocation Committee (FAAC) to cover petrol subsidy costs over time, resulting in zero revenue payments to the federal government.
Increased crude oil, yet no remittance to FG According to the latest report by the company, N448,78 billion was deducted in July to cover subsidy costs.
Source: Legit.ng
