NNPC CEO Mele Kyari, summoned by the Senate, appeared before the joint committee on appropriations 48 hours later, complying with a 24-hour ultimatum issued earlier. This followed observations that Kyari had previously avoided summons regarding the Senate’s probe into over 11 trillion naira expenditure on refinery maintenance between 2010 and 2023.
Facing questions from the appropriations committee regarding potential fuel price reductions due to refinery functionality, Kyari clarified that while a reduction might be possible, it wasn’t the primary refinery objective. He emphasized that maintaining energy security aims to make Nigeria a net exporter of petroleum products in 2024.
Kyari stressed that NNPC doesn’t charge subsidy to the federation, highlighting contributions of 4.45 trillion naira as direct revenue through taxes, royalties, and dividends. Additionally, 406 billion naira was paid as dividends to the Federal Government’s account since July 2023.
He mentioned Nigeria lacks credible data on PMS consumption due to measurement instrument absence.
Senator Adeola Olamilekan, Chair of the Senate Appropriation Committee, previously directed Kyari to appear within 24 hours, emphasizing that failure undermines the legislative process.
Kyari was also instructed to attend with the Executive Secretary of the Nigerian Upstream Petroleum Regulatory Commission, mandated to present details of companies operating with OML licenses and their daily production output.
Senator Olamilekan raised concerns about revenues attributed to NNPC impacting the 2024 budget, emphasizing the company’s accountability to the Federal Government and all three arms of government.