PDP: NNPC Deal With Dangote Refinery Hazy



Mallam Mele Kyari, GMD of NNPC




The Peoples Democratic Party (PDP, has faulted plans by the Nigerian National Petroleum  Corporation, NNPC, to acquire 20 per stake in the $19.5b refinery built by Dangote Group, on completion, alleging that the deal was a disguise by officials in the All Progressives Congress (APC)-led administration to divert over N1.7 trillion, ($3.9 billion) to their personal purses.

According to Mr Kola Ologbondiyan in a statement on Tuesday, “Our party is worried over the opaque and nebulous deal being pushed by fraudulent officials of the Nigeria National Petroleum Corporation
(NNPC), which not only allows corrupt persons in the government to divert the funds, but also entangles and smears the unsuspecting firm with corruption

“While the PDP has nothing against any genuine and honest incentives for private refineries or any moves to divest our economic interest in the private sector, the party insists that such must not be used as a ruse to siphon funds from the national treasury.

He described as an absurdity f”or a government, which cannot fix our
refineries, to be planning to spend such huge amount of money in a venture that it would be a minority stakeholder, if not in the pursuit of sleazy deals by corrupt officials”

He express worry that the payment arrangement involving crude barter was hazy and lacking in the required transparency in evaluation, cost, and exchange terms.

“Our party therefore demands that the Federal Government immediately halt
this nebulous process. The transaction must be made completely open, in terms of conditions for crude barter, signatories, duration, equity sharing and signatories, among other conditions.

The PDP also urged the Dangote Group and other concerned investing firms to be wary of going into any kind of deals with corrupt officials of the APC administration.

Our party charges the National Assembly to protect the nation by summoning the management of the NNPC and immediately commence a holistic investigation into this deal.

The PDP insisted that any process involving the divesting of the country’s economic interest by the government must be made open, transparent and not allowed to become a conduit pipe for treasury-looting officials in the APC administration.