The Convention of Nigeria Political Events (CNPP) has expressed shock, dismay, and disappointment over the current demand by the Nigerian Nationwide Petroleum Firm Restricted (NNPC Restricted) for the Federal Account Allocation Committee (FAAC) to pay an excellent N4.56 trillion for promoting petrol at a backed value between August 2023 and June 2024.
“That is regardless of the Federal Authorities’s repeated bulletins that there are not any subsidy funds for petrol within the nation,” stated Comrade James Ezema, Deputy Nationwide Publicity Secretary of CNPP. “We discover it absurd and unacceptable that NNPC Restricted would declare a web revenue of N3.297 trillion in its 2023 Audited Monetary Assertion (AFS) and but invoice FAAC a whopping N4.56 trillion subsidy reimbursement for petrol offered in simply two months.”
The CNPP has demanded a direct clarification from NNPC Restricted on a number of points, together with how the corporate arrived on the determine of N4.56 trillion as subsidy reimbursement, the idea for this declare when the Federal Authorities has repeatedly introduced that there are not any subsidy funds, and the way NNPC Restricted can declare a web revenue of N3.297 trillion in a yr and but declare to have incurred a subsidy expense of N4.56 trillion in simply two months.
Moreover, the CNPP has referred to as for an unbiased forensic audit of NNPC Restricted beneath Engr Mele Kyari, masking the interval from 2020 so far. “This audit needs to be performed by a good worldwide agency and may cowl all points of NNPC Restricted’s operations, together with its monetary dealings, contracts, and acquisitions,” CNPP demanded.
The CNPP has additionally insisted on the speedy suspension of Engr Mele Kyari for probe, pending the result of the forensic audit. “That is essential to forestall any additional manipulation or destruction of proof.”
Moreover, the CNPP has referred to as for an investigation into how NNPC Restricted acquired OVH Power Advertising and marketing (OVHEM), proprietor and operator of the Oando downstream belongings. “We demand to know what was the acquisition value of OVHEM, who had been the events concerned within the transaction, and was due course of adopted within the acquisition?” CNPP stated.
The CNPP has additionally demanded a revaluation of the acquired Oando belongings to find out their true worth and to make sure that NNPC Restricted didn’t overpay for the stated acquisition.
“We strongly suspect that the explanation for the impunity with which NNPC Restricted’s administration operates is predicated on presumed immunity as a consequence of Mele Kyari’s robust ties with Oando, which is operated by Wale Tinubu, suspected to be a nephew of President Bola Tinubu,” the CNPP added.
The CNPP has vowed to take motion if their questions usually are not answered correctly. “We urge all allied civil society organizations within the nation to be on standby because the CNPP shall be mobilizing for a complete showdown if our questions usually are not answered correctly,” CNPP vowed.
The CNPP has additionally referred to as on the Nationwide Meeting to take speedy motion to analyze these allegations and to carry these accountable accountable for any wrongdoing. “Failure to take motion, all of the Federal lawmakers within the nation might be held accountable by the residents as accomplices within the looting of Nigeria’s oil revenues,” the assertion concluded.
