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Senate Chides NNPC Leadership over Cluelessness on $ 665 million 2011 Budget Discrepancy

By on February 16, 2012

The level of competence being displayed by the public officials in charge of managing our national resources leaves much to be desired. From an inability to account for crude oil allocations, subsidy payments and over-payments and more, one has to wonder if the reason the leadership of our Oil industries have no clue is because they are busy lining their own pockets.

The name and shame game repeated itself yesterday, even as the NNPC GMD, Austin Oniwon was absent and sent an emissary to the National Assembly’s Joint Committee on Upstream. Representing the GMD was the Group General Manager, National Petroleum Investment Management Services, Mr. Morrison Fiddi.

Specifically, Fiddi and his team were unable to provide satisfactory responses to the lawmakers who queried a figure of $ 9.387 billion in documents presented by the NNPC as amount it received in 2011. The lawmakers were obviously puzzled as the National Assembly only approved $ 8.722 billion for the NNPC in 2011. Chairman of the joint committee, Emmanuel Paulker repeatedly sought clarification, however NNPC officials fiddled as they tried in vain to explain details contained inside a document prepared by their organization.

According to Fiddi, “For 2011, we requested for $10.55bn but $8.722bn was approved. In totality, the performance for 2011 was 88 per cent. The security issue in the year affected our operations in the Niger Delta. The security situation was very high but we are improving, and hoping that 2012 will be good.

“Also, pipeline vandalism affected our target; we were able to achieve 88 per cent out of the 100 per cent we were expected to achieve. Hopefully, all these will be addressed in 2012.”

 

 

One Comment

  1. Anonymous

    February 16, 2012 at 10:52 am

    Group of criminals who say they are decent men of society .

    Men of honour .

    See how dis- honourable you guys look in the eyes of your country men.

    NNPC Group managing directors are disgrace to Nigeria ,your personality and a shame to your children .

    “The NNPC Group comprises of the NNPC Board, the Group Managing Director’s
    office, eight directorates namely, Exploration & Production, Refineries
    & Petrochemical, Finance & Accounts and Corporate Services, Commercial
    & Investment, Engineering & Technology, Gas & Power and Special
    Duties. Each of the Directorates is headed by a Group Executive Director (see
    pictures below). Its Divisions are headed by Group General Managers while its
    ten subsidiary companies are headed by Managing Directors. NNPC has two partly
    owned subsidiaries and 16 associated companies”.

    This crop of systematic criminals and unpatriotic elements need to be Jailed for abuse of OFFICES .

    SUCH AMOUNT OF MONUMENTAL FRAUD AGAINST ITS PEOPLE TAKING

    PLACE WITHIN THERE OFFICE ENVIROMENTS AND CONTROL.

    The leadership is corrupt and cannot do anything to correct the past .

    The image of the COUNTRY has been Painted as COUNTRY where Crime is encouraged .

    NLC is an arm of Government which Govt Uses to Calm down sensitive situations .

    WHAT EVER THE LAW MAKERS WILL FIND OUT OF THIS NNPC PROBE WILL DETERMINE HOW NIGERIA WANTS ITS FUTURE .

    ITS BETTER THEY DO THE RIGHT THING ONCE AND FOR ALL ,and correct the ills of the OIL and Gas Sector or the MASSES will help them do it .