- Speaker Abbas Tajuddeen urges urgent privatization of Nigeria’s struggling oil refineries during a meeting with Nigerian National Petroleum Company Limited
- The call for privatization aims to address prolonged inefficiency and resource drain in the refining sector, promoting better management practices
In a pivotal meeting with the management of the Nigerian National Petroleum Company Limited (NNPCL), Speaker Abbas Tajuddeen of the House of Representatives advocated for the urgent privatization of the nation’s struggling oil refineries.
Highlighting the recent commercialization of NNPCL, transforming it into a profit-oriented entity, Speaker Abbas Tajuddeen emphasized the need to avoid further years of inefficiency and economic wastage. The call for privatization comes as a strategy to address the non-productive state of refineries like Kaduna, which have remained dormant for over two decades despite continuous staff maintenance, payments, and promotions.
During the courtesy call led by NNPCL’s Group Chief Executive Officer (GCEO) Mele Kyari, Speaker Abbas Tajuddeen expressed concern about the country’s refining sector’s prolonged inefficiency and resource drain. He asserted that privatization would introduce better management practices and enhance overall productivity.
“I am from Kaduna, and the Kaduna refinery has been moribund for over 20 years. I know people working there who have been idle all these years, receiving salaries and promotions. This is inefficiency of a worrisome proportion,” remarked Speaker Abbas.
Advocating for creative solutions, Speaker Abbas Tajuddeen urged NNPCL to devise innovative approaches for optimal performance, suggesting repurposing staff strength to areas where productivity could be maintained, even in the absence of crude oil at the refineries.
Assuring support from the 10th House and the National Assembly, Speaker Abbas Tajuddeen highlighted the establishment of a Special Committee on Oil Theft and Pipeline Vandalism. This committee aims to combat oil theft, a critical industry issue.
GCEO Mele Kyari, in response, outlined the successes achieved by NNPCL under the provisions of the recently enacted Petroleum Industry Act. The company has strategically utilized the Act to maximize its commercial potential, aligning with the nation’s efforts to enhance efficiency and combat economic losses.