Pressure mounts on Tinubu to sack oil sector chiefs
15 August 2024 |
5:07 am
President Bola Tinubu is facing growing pressure to sack heads of the nation’s oil and gas regulatory agencies over alleged failure to effectively manage the sector and address the myriads of challenges facing the industry. Stakeholders within the All Progressives Congress (APC), known as the Tinubu Legacy Coalition (TLC), in a private letter to…
President Bola Tinubu is facing growing pressure to sack heads of the nation’s oil and gas regulatory agencies over alleged failure to effectively manage the sector and address the myriads of challenges facing the industry.
Stakeholders within the All Progressives Congress (APC), known as the Tinubu Legacy Coalition (TLC), in a private letter to the President, yesterday, demanded the removal of Mele Kyari, Gbenga Komolafe and Farouk Ahmed as heads of the Nigerian National Petroleum Company Limited (NNPCL), Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), respectively.
According to the letter signed by Convener/ National President, Bala Abu, Dr Jeremiah Okino; Co-convener, Gabriel Gbana; Secretary, Princess Ajibola; Dr Thomas Terna, and 95 others, the stakeholders said their continuous stay in office had done more harm than good to the image of the President.
They lamented that the sector had been plagued by inefficiencies, corruption, and mismanagement with fuel scarcity, pipeline vandalism, and rampant oil theft.
The stakeholders further said the country’s reputation had been tarnished due to lack of transparency and accountability, with billions of dollars lost to fraudulent activities.
“We are compelled to express our deep concern over the state of the nation’s oil and gas industry. Despite the sector’s potential to drive economic growth, it has been plagued by inefficiencies, corruption, and mismanagement. The continuous stay in office of Mele Kyari, Gbenga Komolafe and Farouk Ahmed has done more harm than good to the image of President Tinubu.
“The oil and gas sector is in shambles, with fuel scarcity, pipeline vandalism, and oil theft rampant. The sector’s contribution to the nation’s GDP has dwindled, and the country’s reputation has been tarnished. The lack of transparency and accountability in the sector has led to widespread corruption, with billions of dollars lost to fraudulent activities.
“Furthermore, the industry is plagued by vested interests, with concerns over the importation of adulterated petroleum products, non-availability of crude oil for domestic refineries, and energy security concerns. The recent accusations by Dangote Refinery against International Oil Companies (IOCs) of colluding to frustrate the local refining industry through underhand tactics are particularly alarming,” the letter read in part. The stakeholders, therefore, insisted their sack had become necessary to restore confidence in the sector.
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