The House of Representatives Speaker, Abbas Tajudeen, stressed the necessity for innovative strategies to enhance performance in Nigeria’s oil sector, specifically directing attention to the Nigerian National Petroleum Company Limited (NNPCL). During a courtesy visit by NNPCL management in Abuja, Tajudeen praised the company for effectively utilizing the Petroleum Industry Act (PIA) to maximize its commercial potential.
Expressing concern about the inefficiency and prolonged inactivity of refineries, such as the dormant one in Kaduna for over two decades, Tajudeen underscored the impracticality of retaining staff without productive output. He urged NNPCL to explore creative approaches for redeploying personnel to areas where their skills could contribute meaningfully, even in the absence of crude oil at the refineries.
Calling for privatization as a solution to turn around economic losses resulting from non-productive refineries, Tajudeen praised the NNPCL for redirecting gains from subsidy removal to enhance other productive areas. He acknowledged the positive impact on revenue, as reported by the Chief Executive.
Tajudeen pledged the support of the 10th House and the National Assembly in the fight against oil theft, revealing the establishment of a Special Committee on Oil Theft and Pipeline Vandalism. The Group Chief Executive Officer of NNPCL, Mr. Mele Kyari, outlined areas of improvement within the company facilitated by the PIA, emphasizing the commitment to enhancing operational efficiency.
