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‘Why we back reform in oil sector’


Port Harcourt refineriesA GROUP, Niger Delta Corporate Network (NDCN), has commended the decision of President Muhammadu Buhari to scrutinise the oil industry.

In a statement sent to The Guardian and signed by the group’s Executive Secretary, Ebitimi Filatei, NDCN said the move would lead to revamping of Nigeria’s oil and gas sector.

It said: “As players in the corporate world, especially as Niger Delta indigenes with interests in the oil industry, among other sectors, we are aware of the rot that has been rooted in government over the years and has had negative impact on the cost of doing business in the country. Nigeria today is one of the least competitive nations because of the corruption component in doing business. This situation and the grave danger corruption poses to our progress and development as a nation informed the decision of the NDCN to endorse Buhari in the run-up to the 2015 election, which he convincingly won.

‘‘So far, the President has not disappointed us with his methodical approach to rebuilding the institutions of the state and along with it ensure that every crime gets its due punishment. The current searchlight being beamed on the oil sector by the President and his plans to reform the sector are therefore understandable and commendable. We pledge our support to the administration of Buhari in this regard and indeed in his efforts to change Nigeria’s pariah status in the comity of nations.

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