NNPC probe: House calls for memo

Sola Fadare, Lagos
Dimeji Bankole,
Speaker, House of Representatives

As a way of setting in motion the planned conduct of public hearing on the activities and the operations of the Nigerian National Petroleum Corporation (NNPC), its subsidiaries and the Department of petroleum Resources (DRP), the House of Representatives has called on Nigerians especially the stakeholders in the oil sector, corporate bodies, and the general public to submit to its committee what can assist it in carrying out its activities.  This was contained in a release signed by the Chairman of the ad hoc committee, Honourable Igo Aguma..

The released added that each memorandum should be submitted to its secretary in the national assembly complex Abuja in 10 copies, double-spaced typing of not more than 20 pages on or before 21 May. The committee constituted on 22 April was given the mandate of determining the actual allocation of domestic crude oil to the Nigerian National Petroleum Corporation (NNPC) as well as the quantity of refined petroleum products demand thereof if any, from May 199 to May 2008. 

Also the committee will, among others determine the location of such accrued revenue, the process of lodgment or investment and all relevant particulars thereto and compute all the budgetary allocation extended to Petroleum Products Pricing and Regulatory Agency (PPPRA) for the purpose of importation of refined petroleum products, the use which such allocations were made and all other financial transactions entered into by the Agency and the proceeds arising thereto from 1999 to 2008.

The Chairman of the committee, in the release also stated that his committee would further consider all other matters and materials circumstances contingent on the operations and activities of the NNPC, establish the existence of a Tender Board of the body, its procedures and processes and ascertain the identities, particulars, status and the basis of the engagement of companies, enterprises and individuals by the NNPC for the importation and exportation of petroleum products, as well as those that have benefited from oil blocks allocation during the period under review.

NTMA advocates petrochemical industry

Sola Fadare, Lagos

Odein Ajumogobia, Minister of State
for Energy (Petroleum)

Until the Federal Government pays serious attention to developing the petrochemical industry, efforts at building a virile textile and cotton industry in the country may not yield the desired results. This submission was made by the Nigeria Textile Manufacturers’ Association in Lagos during an interactive session with the press on the need for government to expedite action on the functionality of the nation’s petrochemical industry in order to revive the textile industry.

The Chairman of the Association and the Commercial Director, BAGCO Plc, Mr. Abiodun Sunday Ogunkoya, observed that if that if the Federal government actually has the mission of helping the local industries, emphasis must be laid on the use of local raw materials, adding that instead of the government to encourage the use of local raw materials such as synthetic polymers by Petrochemical industry, the government still pay lip service to the sector. 

He said government should, as a matter of urgency mandate Eleme Petrochemicals to supply local users which will eventually save the country’s foreign reserves.     According to Ogunkoya, the Nigerian Textile industry has grown beyond the conventional textile products to include a large manufacturing industry that has synthetic polymers as the raw material which are bye-products produces through the refining of oil and Nigeria ,he stressed, is capable of capturing the rich potential available from these natural resources.  “The only functioning polymer plant in Nigeria is Eleme Petrochemicals and NTMA appreciates the recent inward investment undertaken by Indorama (an Indonesia Polymer manufacturer) to return the Eleme Petrochemicals plant to fill operational status.   It is with anticipation that NTMA waits for the day when foreign exchange will no longer be utilized to fund raw material imports and Eleme Petrochemicals can supply a full range of products in the necessary quantities.” He averred.

Speaking in the same vein, the Secretary of the Association, Mr. Jayeola Paul Olanrewaju noted that Petrochemical Company in the country can flourish if the Federal government decides to give it total support, adding that if the Petrochemical industries are functioning, “Our dye, fibre and other raw materials of textile will start functioning because all of them can be effectively produced by the Petrochemical industries.”    The NTMA scribe added that “today the supply of locally produced polymer is not available in sufficient quantity to satisfy the demand of the Nigerian industry”, which he opined has contributed to the low capacity utilisation of the industries.