Nigerian National Petroleum Company (NNPC) Limited staff members have commended the Minister of Petroleum Resources, President Muhammadu Buhari for rescinding the decision to approve the sale of Mobil Oil Producing Nigeria Unlimited to Seplat Energy Plc.
The workers, under the aegis of the Group Executive Council (GEC) of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), lauded Buhari for withholding the ministerial consent to the acquisition of the oil and gas assets.
In a statement, signed by the GEC Chairman,Comrade Emea Okorie and Secretary, Comrade Peter Asemota, the workers said: “This decision is indeed timely, necessary, and commendable as it places national interest over and above other interests. This asset is the nation’s most prolific assets and the lowest cost JV with excellence community reputation and peaceful operations.
“It is the collective decision and resolution of GEC of NNPC PENGASSAN that the management of NNPC Limited should go ahead, in the best interest of the nation, to exercise her inalienable Right of First Refusal (RFR) to acquire the 40 per cent assets of MPNU and every other Joint Ventures (JV) in Nigeria as this will position NNPC for better productivity, efficiency and maximum return on investment in the oil and gas industry.”
The group also lauded the watchdog role played by the oil and gas regulator, the Nigerian Upstream Regulatory Commission (NUPRC), led by Mr. Gbenga Komolafe for ensuring transparency, fairness, adherence to process and due diligence in acquisition.
It stated that this has protected the nation from imminent loses that would have occurred as a result of it.
The GEC of NNPC PENGASSAN praised the NNPC Limited under Dr. Mele Kolo Kyari for its innovations, and creativity brought to bear in the management of the nation’s hydrocarbon.
The GEC of PENGASSAN listed some of the projects embarked on by NNPC Limited to include rehabilitation of Port Harcourt and Warri Refineries, Petrochemical Company, partnership programmes with host communities like Ogidigben industrial complex and Maiduguri 50MW power plants, among others.