NNPC MONTHLY REPORT: PMB HAS WALKED HIS TALK OF TRANSPARENCY AND ACCOUNTABILITY – BMSG

Abuja: The Buhari Media Support Group (BMSG) describes the release of the monthly Financial and Operations Report of the Nigeria National Petroleum Corporation (NNPC) as historic and a clear indication of President Muhammadu Buhari’s commitment to transparency and good governance.

The BMSG submits that the release of the report, which profiles all possible activities and operations, including expenditures and income accruable to the Corporation, is a marked departure from the practice of running the affairs of the oil sector in the closet with all the attendant corruption and short changing of Nigeria and its people.
“This will be the first time ever, since the establishment of the NNPC in 1977 that the Corporation will issue a monthly report of its operations. It is incredible and historically record breaking.

“For a government agency that hitherto takes pride in the opaqueness of its operations and boastfully talks down on Nigerians of the extreme ‘complication and sophisticated’ nature of its operations, so much that Nigerians of whatever hue can’t possibly understand its workings, the public circulation of the report is not only heart warming but a clear indication of President Muhammadu Buhari’s rock-solid commitment to due process, probity, accountability and unimpeachable transparency in the conduct of government businesses,” the group states in a statement signed by Malam Muhammad Labbo and Chief Cassidy Madueke, Coordinator and Secretary respectively.

The BMSG notes in the statement that the August edition of the NNPC’s monthly report provides a simple, uncomplicated insight into the operations and business propositions of the Corporation without holding any detail back.

“For the first time, Nigerians can truly be part of the government’s Corporation that is responsible for managing the major segment of their economy. For the first time ever in history, Nigerians are availed the exact figures of crude oil and condensate produced in a particular month of its operation, stated at 67.49million barrels translating to an average daily production of 2.177 million barrels in the month of July.

“The report shows that the 17.4 million barrels of crude oil lifted on the account of NNPC in July, comprises 15.4 million and 1.9 million barrels for the domestic and export markets respectively.

“The report also highlights the total amount of natural gas produced at 225 billion standard cubic feet (BCF) even as it made copious rendition of total Crude processed and produced by the three refineries for the month of August stating the value of output at N47.26 billion while the associated crude plus freight cost was N35.1 billion, giving a surplus of N4.97 billion after considering overhead of N7.18 billion.

“That we have a reference source material to freely and without hindrance extract the figures as we have done here goes a long way to assure Nigerians that government is no longer the exclusive purview of a small minority of influential and privileged Nigerians that arrogates insider knowledge of government agencies and exploitation of same to themselves.”

While commending President Muhammadu Buhari for this initiative, the BMSG congratulates the Group Managing Director of the NNPC, Mr Ibe Kachikwu, for driving the initiative to reality.

“We specially commend President Buhari for this integrity driven initiative. Of course, we are quite conscious of the hallmark of the character of this government, but then, we must honestly confess that we did not expect the compilation and public issue of this report so early in the life of the administration given the criminal cloak that was used to cover the conduct and operations of the business of the NNPC before now.

“This is one more reason we are confident of not only the economic rejuvenation of the country but the ethical and value reorientation of Nigerians.”

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Posted on October 11, 2015, in politics and tagged , , , . Bookmark the permalink. Leave a comment.

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