Wednesday, October 13, 2010
Nigeria: Oshiomhole Asks Accountants to Probe Petroleum Corporation
The Edo State governor has challenged Chartered Accountants in the country to investigate the activities of the Nigerian National Petroleum Corporation (NNPC) to find out the country's benchmark of fuel production and the level of supposed subsidy claimed to have been provided.
Comrade Adams Oshiomhole made the remarks yesterday in Abuja at the opening ceremony of the 40th Annual Accountants' Conference with the theme: "Nigeria at 50: Economic Development and socio-political stability." The governor said that the accountants must ask the question for the sake of the poor, adding that people must resist practices that make other people poorer in the name of subsidy. He said: "As professional accountants, you cannot afford to sit on the fence without asking probing questions on ways and manner nation's resources are being managed by people entrusted with them." He blamed the management of NNPC for shrouding its affairs in secrecy.
"Nigerians do not know how much crude oil the country produces because we don't have the mechanism to monitor what we produce. NNPC is extremely economical with the truth. If you have no control of transparency in a sector that produces 80 per cent of your revenue, then corruption cannot be ruled out," he said. He said NNPC has become so powerful that it deducted any amount realised from crude oil sales and handed what it felt like handing to the Federation Account without anyone raising question.
Posted by Crude Oil Daily at 11:32 AM
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