NNPC Still Has Transparency Issues – PWYP

The National Coordinator of Publish What You Pay (PWYP), Mr. Peter Egbule, has said that the Federal Government has not done enough to reform the Nigerian National Petroleum Corporation (NNPC) to make it more transparent and accountable to Nigerians.

Egbule said this at the sideline of a 2-day multi-stakeholders’ workshop for civil societies working in the extractive sector.

He noted that despite the good intentions of the current administration, a lot still needs to be done to open up the corporation.

“For instance, the NNPC runs as government within a government. They do their budget, they decide how much they retire or spend, they decide what profit they plough back and sometimes monies are unremitted to the Federation Account,” Egbule claimed.

He stressed that there has to be a change in the structure of the corporation either through reforms or unbundling.

He stated that the biggest issues in the Nigerian extractive industries remain issues of accountability and transparency.

“We are also trying to push it beyond just oil and gas, and solid minerals into forestry. For us also, if you look at the entire value chain, a lot of the operations are very opaque so for it is the issue of transparency, openness across board.”

He pointed out, however, that Nigeria has fared fairly well in the implementation of the Extractive Industries Transparency Initiative (EITI) since the process started about 10 years ago with the NEITI Act of 2007.

Culled from Daily Trust

 

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