Laolu Akande, a seasoned journalist and former presidential spokesperson, made fiery assertions on Channels TV’s “Inside Sources with Laolu Akande” on Friday, asking for urgent action against corruption within the Nigerian National Petroleum Corporation (NNPC). Akande stressed the need of President Tinubu applying the same rigorous scrutiny to the NNPC as he does to the Central Bank of Nigeria (CBN), particularly when it comes to allocating domestic crude to local refineries.
“Mr. President, this is the deal. You need to do the same thing you did regarding CBN to the NNPC. Why can’t our local refineries, for instance, get a good chunk of the domestic crude allocation of NNPC? Why is that such a big problem? We should not accept that giving the local refineries crude will affect our FOREX earnings. That ought not to be the case. Why don’t we have a simple, transparent explanation from those in charge?” Akande questioned.
He stressed the need for clarity and transparency from the Ministers overseeing petroleum resources and the NNPC. Acknowledging the complexity of some issues, he insisted that the Nigerian people deserve straightforward explanations and called for a collective effort to tackle the significant problem of corruption.
“As a people, we have to take it upon ourselves to take a harder look at the big elephant in the room when we talk about corruption. Corruption corrodes everything. We have to go after the big significant problems of our nation and go after the petulant enemies of our collective progress. It takes toughness to navigate what is certainly a tough situation that our country has found itself in today.”
Akande also praised the recent heroism displayed by the Nigerian police at Ladipo Market, where they thwarted a kidnapping attempt, highlighting the importance of recognizing and commending such acts of bravery.
“Let us rise as a people to commend the fantabulous policemen at Ladipo Market, who last week dealt a crushing blow to some rampaging kidnappers right at the site of their crimes in a shootout that is now restoring the confidence of all of us in the Nigerian Police. This kind of gallantry demonstrated by the police deserves accolades and recognition.”
Discussing the current state of the nation, Akande painted a grim picture but expressed hope for improvement. He highlighted three clear issues: economic hardship, the leadership’s ongoing efforts, and the uncertainty of seeing significant progress soon.
“There are three things that are very clear about the situation of the country today. First, there is serious hardship in the land, economically and in terms of security. Second, we want to believe that the leadership, especially Mr. President, is concerned and grappling with the situation. And, this is based on what their allies and aides tell us. The third point is that the indications are very bleak. We cannot say yet that we have seen the light at the end of the tunnel. For example, see how fuel scarcity is now off and on. Nonetheless, our wish and prayer is that the light at the end of the tunnel will soon emerge. And, let us be confident as a people that will happen.”
He urged the government to take tougher decisions to build public confidence and bring about the much-needed light at the end of the tunnel, particularly in combating corruption in the oil and gas sector.
“To facilitate that confidence and that light, there are tougher decisions that our elected leaders must start thinking about very seriously. What are those tough decisions that they ought to take? It is decisively dealing with corrosive corruption in the oil and gas sector. For a significant length of time now, we have not been producing enough crude. And there have not been sufficient, significant investments in the oil and gas sector. What is clear is that in the oil sector starting from NNPC and co, there is serious debilitating corruption. Why is it, for instance, that the cost of lifting crude from Nigeria is the highest in the world? It costs $48 to lift crude in Nigeria but in Saudi Arabia, it is $9. In Norway, it is $21. In the US, it is $24. Why is it that in Nigeria, it is prohibitively at $48 to lift a barrel of crude? That is a big issue that indicates to us that there is a serious problem in our oil and gas sector.”
Akande further questioned the accountability of NNPC’s operations, particularly in crude oil exportation and refining, pointing out discrepancies in production targets and actual outputs.
“When NNPC sends crude abroad to bring refined petroleum, who is doing the accounting? And where is the accounting? Why are we still struggling with an oil production capacity of 1.2 million barrels per day when we budgeted for at least 1.7 million barrels per day in 2024?”
