Abuja, Sept. 2, 2024 – Atiku Abubakar, the Presidential Candidate of Peoples Democratic Party (PDP) in the 2023 election, has suggested the listing of the Nigerian National Petroleum Corporation Limited (NNPCL) on the stock exchange.
Atiku made the call in a statement on Sunday.
He made the suggestion against the backdrop of a circular issued by the NNPC last week requesting for private operators to operate and manage Warri and Kaduna refineries.
The NNPC, in the circular, called for qualified operators to manage the two refineries to ensure the refineries produce petrol as well as foster energy security in the country.
NNPCL said tender process for the refineries would be handled as a single tender and conducted in three stage of Expression of Interest (EOI), Technical, and Commercial bidding.
In his reaction, Atiku called for immediate listing of the NNPCL on the stock exchange.
“The NNPCL is supposed to have been listed on the stock exchange in line with the Petroleum Industry Act. This would make the company more profitable and enhance transparency and corporate governance.
“Currently, the NNPCL claims to be private, but this is only a ruse to fool the feeble-minded because it remains the ATM of the Federal Government.
“Anything short of listing the NNPCL on the stock exchange is nothing, but a cosmetic development,” he said.
On the NNPCL’s $6 billion debt to petrol suppliers, Atiku expressed deep concern and criticised the NNPCL for lack of transparency.
“What has become of these fictitious or phantom profits you once proudly proclaimed? Layers of deceit and lack of transparency have brought you to this unfortunate juncture.” (GBN)
