By OLufemi Adegbulugbe
We forget so soon.
The same NNPCL that tried to sabotage Dangote refinery is the same NNPCL that has now monopolised distribution of Dangote refinery products as sole-off taker.
Alhaji Ahmed Farouk, CEO of NNPCL downstream described Dangote refinery products as low quality and unsafe for use. He told us that NNPCL preference is imported petroleum products from make shift refineries in Malta!
We wonder why the same NNPCL has now suddenly become the sole off taker of low quality Dangote petrol products. What has changed?
The same NNPCL that reduced equity in Dangote refinery from 20% to 7% is now shamelessly the sole off taker of Dangote refinery products. Indeed, Demons at work in the name of managers!
NNPCL that successfully ensured the death of three refineries is now shamelessly taking on the role of petroleum product off taker.
When they fly low, we, the citizens, must fly high!
Beautiful and vocal Adeola Fayehun queried why we have to go through NNPCL to access Dangote Premium Motor Spirit ,PMS when we do not buy Dangote cement through NNPCL or Ministry of Housing!
$25 Billion on refinery Turm Around Maintenance ,TAM in ten years and the end result is 3rd party PMS and AGO off taker!
While the cumulative production capacity of 3x NNPC refineries declined to 0% in the last ten years, the salaries and wages of 1,200 NNPC refinery staff increased to 350% during the same period.
Yes, demonic agents have taken over management of NNPCL.
The same NNPCL that daily informs the citizens that PMS is fully deregulated is the same NNPCL that will not allow free and open transparent access to Dangote products, and will muscle Dangote refinery to backdoor price negotiations/ fixing.
We simply have Demons as managers in NNPCL management apparatchik.
NNPCL, inspite of securing $3b loan from the upfront sale / mortgage of crude oil and also declaring a N3tn after tax profit, is also owing Petroleum importers a whopping $6b , which represents 20% of our foreign exchange reserves.
This will have a serious impact on the Naira value in the coming days and months ahead.
All things being equal, the settlement of this $6b debt by NNPCL will push the exchange rate to N2,500/ dollar.
What we have at hand is consistent inconsistencies in the management of state affairs and Government policies.
What we have seen play out is simply governance by way of deception aka deceptive Governance.
May Almighty God, in his infinite mercy have mercy on Nigeria, as we look up to the high heavens, in total submission to the will of God.
God helps those who help themselves, therefore, we shall continue to hold Government accountable, as far as our abilities permit us to do so.
