NNPC Automates Sales of Nigeria’s Equity Oil Share

The Nigerian National Petroleum Corporation (NNPC) has disclosed that its management of transactions involving Nigeria’s equity share of crude oil produced in the country has been automated to up to 98 per cent.

It said with the development, information on how much of Nigeria’s crude oil share was sold, the price, who bought it and where it went, could be accessed at a click of a button by its Crude Oil Marketing Department (COMD).

The corporation also disclosed it would work with Economic and Financial Crimes Commission (EFCC) to checkmate possibilities of sleaze in its operations.

Its Group Managing Director, Mallam Mele Kyari, stated this recently at the 3rd African Anti-Corruption Day and Round Table Discussion on Asset Recovery and Return.

A statement from NNPC’s Group General Manager Public Affairs, Mr. Ndu Ughamadu, quoted Kyari to have explained that the NNPC was committed to a robust relationship with the EFCC.

He said the corporation would assist the anti-graft agency in its work against corrupt practices.

According to the statement, it was in the interest of the NNPC to support the EFCC and entrench accountability and transparency in its system.

Kyari, also stated that President Muhammadu Buhari, has never interfered in the operations of the corporations or compromised any of its processes, and as such, it was imperative for NNPC to embrace openness and accountability in all its activities.

SOURCE: thisdaylive.com