The national leadership of the Host Communities Producing Oil, Gas and Pipeline-Impacted States Youth Council of Nigeria (HOSTCON Youth Council) has urged the management of NNPC Trading Limited to sustain ongoing reforms and uphold high standards of accountability, transparency and responsible resource management.
The council, in conjunction with its Board of Trustees, made the call in a statement issued yesterday following a news conference convened by its National President, Comrade Emmanuel Fiawei Pathfinder.
It also commended President Bola Ahmed Tinubu for his efforts to strengthen Nigeria’s petroleum trading sector and praised the appointment of Mrs Maryam Idrisu as Managing Director of NNPC Trading Limited.
HOSTCON described Idrisu’s more than three decades of experience in the petroleum industry as an asset to efforts to improve efficiency, commercial discipline and accountability in crude oil trading.
The council also noted her appointment as Nigeria’s representative on the OPEC Economic Commission Board, saying it could strengthen the country’s participation in international petroleum market discussions.
According to the group, greater transparency in crude oil trading, pricing, valuation and contract management is critical to protecting Nigeria’s economic interests, improving investor confidence and maximising returns to NNPC Limited and the Nigerian economy.
It called for stronger collaboration among NNPC Trading Limited, government institutions, regulators and industry stakeholders to promote a more predictable and transparent business environment.
“After close scrutiny, the Council considers these reforms particularly significant because a transparent, efficient and professionally managed oil and gas trading system is essential to protecting national economic interests.
It also strengthens investor confidence and creates a more predictable environment for legitimate stakeholders,” the statement said.
The council urged indigenous and international oil companies, crude oil buyers, exporters, investors and other stakeholders to support efforts to deepen transparency and efficiency in petroleum trading.
It said sustained commercial discipline would strengthen Nigeria’s credibility in the international energy market and improve the value derived from the country’s petroleum resources.
SOURCE: The Nation
