Bayo Ojulari has come under fire and is currently facing resignation call over NNPCL Refinery deal with Chinese Firms.
NewsOnline Nigeria reports that the Group Chief Executive Officer of Nigerian National Petroleum Company Limited, Bayo Ojulari, is facing growing criticism and calls for resignation following the company’s latest Memorandum of Understanding (MoU) with Chinese firms on the rehabilitation of Nigeria’s refineries.
A public affairs analyst and civil society advocate, Edward Abakpa, made the demand in a statement on Tuesday, raising concerns over the transparency surrounding refinery rehabilitation spending and the new foreign partnership arrangement.
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Recall NNPCL recently signed an MoU with two Chinese companies aimed at restarting the Port Harcourt and Warri refineries.
The development has continued to attract criticism from several stakeholders, including former Vice President Atiku Abubakar and the Nigeria Employers’ Consultative Association, who reportedly called for the suspension of the deal over concerns about possible waste of public funds.
Although an NNPCL official recently stated that public funds would not be used for the agreement, Abakpa insisted that Nigerians deserve a detailed public audit of previous refinery rehabilitation spending before any new arrangement proceeds.
According to him, the continued lack of accountability surrounding refinery projects has weakened public confidence in the downstream petroleum sector.
“The central issue is accountability. Before entering into fresh arrangements, Nigerians deserve a detailed explanation of how over $3.5 billion previously committed to refinery rehabilitation was utilized, what work was actually completed, and why the refineries remain largely non-functional,” he stated.
“It is unacceptable that after spending more than $3.5 billion on refinery rehabilitation over several phases, there is still no clear, commercially viable output from these facilities.”
Abakpa further argued that unresolved questions surrounding past refinery expenditures would continue to cast doubt on any future partnerships.
“We cannot build new partnerships on a foundation of unresolved questions. Until Nigerians are told exactly what happened to the $3.5 billion already spent, every new deal will be viewed with suspicion,” he added.
