NNPC Automates Sales of Nigeria’s Equity Oil Share


The Nigerian National Petroleum Corporation (NNPC) has disclosed that its management of transactions involving Nigeria’s equity share of crude oil produced in the country has been automated to up to 98 per cent.

It said with the development, information on how much of Nigeria’s crude oil share was sold, the price, who bought it and where it went, could be accessed at a click of a button by its Crude Oil Marketing Department (COMD).

The corporation also disclosed it would work with Economic and Financial Crimes Commission (EFCC) to checkmate possibilities of sleaze in its operations.

Its Group Managing Director, Mallam Mele Kyari, stated this recently at the 3rd African Anti-Corruption Day and Round Table Discussion on Asset Recovery and Return.

A statement from NNPC’s Group General Manager Public Affairs, Mr. Ndu Ughamadu, quoted Kyari to have explained that the NNPC was committed to a robust relationship with the EFCC.

He said the corporation would assist the anti-graft agency in its work against corrupt practices.
According to the statement, it was in the interest of the NNPC to support the EFCC and entrench accountability and transparency in its system.

Kyari, also stated that President Muhammadu Buhari, has never interfered in the operations of the corporations or compromised any of its processes, and as such, it was imperative for NNPC to embrace openness and accountability in all its activities.

He explained the process of automating its crude oil sales processes started earlier, and was initiated to eliminate the use of discretion in such transaction, adding that it was susceptible to corruption.

“Under the new GMD’s watch as Group General Manager, Crude Oil Marketing Division (COMD), NNPC recorded visible transformation in the management, marketing and sales of the various grades of Nigeria’s crude oil through the infusion of transparency and automation of the processes.

“As part of the reforms, the COMD as at last check had achieved 98 per cent automation of all transactions involving the supply, marketing and sale of Nigeria’s equity crude oil across the world. Today, COMD is enabled to achieve an end-to-end monitoring of every barrel of crude oil sold in the country,” the statement noted.

Furthermore, it stated that the Secretary to the Government of the Federation (SGF), Mr. Boss Mustapha, who declared the event open, said it was encouraging to see Kyari and his new management team identify with the EFFC and its anti-corruption mandate.
Mustapha, reportedly called on Kyari to keep the government’s anti-corruption drive alive in the NNPC by sustaining the momentum of collaboration with EFCC.