By Michael Eboh

Senate Committee Chairman on Petroleum Resources (Upstream), Senator Bassey Akpan, Monday commended the Nigerian National Petroleum Corporation (NNPC) for the recent release of the audited financial statements of its subsidiaries and business units, while he stated that the corporation is now more transparent and accountable than in the past.

Speaking in an interview with energy journalists in Abuja, Akpan stated that the recently-published audited financial statements of the NNPC, also goes a long way to underscore the readiness of the new management of  the NNPC, under the Group Managing Director (GMD), Mallam Mele Kyari, towards pursuing transparency, good governance and also accountability in the industry.

Akpan is a member of the People’s Democratic Party (PDP), and currently represents Akwa Ibom North-East Senatorial District at the Senate.

He said, “The story of the oil and gas industry in Nigeria cannot be complete without recognizing the critical roles played by the NNPC. I stand here to say that having had the opportunity of carrying out oversight functions of this industry, most especially the activities of the NNPC, I think in terms of transparency, it is more enhanced; in terms of probity, they are more accountable to the people; in terms of effectiveness, they have actually deployed their skills to ensure that what used to be the norm is no longer there.

“Like I said, yes we are not there yet, but we are not also where we used to be. Nobody used to know what happens in the NNPC; but I think we are beginning to see results, and we can actually attest to the fact that this is in line with the new spirit.

“I must commend Mr. President for the trust and confidence he had in the new team. I must also inform Mr. President that the National Assembly, under the leadership of His Excellency, Senator Ahmed Lawan, would also partner with the executive, without compromising our oversight authority, as enshrined in the constitution, to ensure that we deliver quality and value to the Nigerian people, who actually own the corporation.”

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Akpan applauded the passion and the patriotism of the GMD and his team, while he noted that for the first time in this country, efforts should be made to enhance and ensure that the current collaboration between the executive and the legislature, brings about a more improved, a more enhanced, a more effective and efficient, as well as a more transparent petroleum industry.

He said, “I am very confident of the current management of the NNPC, led by Mallam Mele Kyari. I am very confidence, having had the privileged of working very closely with him and his team, in the last couple of months, as Senate Committee Chairman on Upstream. One of the first major assignments we had as a team was the review of the Deep Inland Basin Production Sharing Contract (PSC) Act; and then what we had to achieve in terms of the magnitude in just a couple of days.

“That would not have been possible without the support of the GMD, who had sleepless nights with me, for days, and his team as well as the team from the DPR. We had to work closely as a team to protect the interest of our country. We did that and I must confess that is one of the major feats that this current National Assembly, especially the Senate, had achieved within the first one year in office.

“The value we had added and the milestones we had attained is actually there for all to see. I commend the GMD and his team for doing such a fantastic job. Like I said, recommendation for a job well done is that more jobs have to be done. We are not there yet, but we are not where we used to be.”

Vanguard