The All Progressives Congress (APC) Presidential candidate, General Muhammadu Buhari has vowed that if he is elected as President in the February election, he would unearth all the shady deals in the Nigeria National Petroleum Corporation (NNPC) which the present government has been hiding from Nigerians.
A statement from the party’s Campaign Organization said that General Buhari will lift the veil on secrecies that have characterized the transactions in the Corporation.
The statement which was issued by the Directorate of Media and Publicity of the campaign in Abuja today said that it is apparent that the reason the country’s economy has always been experiencing heavy shock any time there is instability in the global oil market is because of corruption and lack of transparency and honesty in the way the NNPC is run.
The statement signed by Mallam Garba Shehu, Director of Media and Publicity of the campaign assured that if elected into office, an APC-led government will promote credible book-keeping in the day-to-day workings of the NNPC.
“To create a level playing field for all operators and investors in the oil and gas industry, there is an urgent need to have a clear and transparent regulatory and fiscal framework for the upstream, midstream and downstream activities.”
He said that for about fourteen years, the petroleum sector has undergone several reforms to bring its operations – legal, regulatory and organizational framework – in line with international best practices.
The APC Campaign, however, regretted that in spite of the huge human and financial resources that have been expended on these reforms, not much has been realised as a result of lack of commitment and political will of the Jonathan administration.
The APC Campaign said that to shore up the nation’s capacity to absorb any shock arising from the flexibility in the global oil and gas market, Buhari will ensure the following reforms: comprehensive review of the entire petroleum revenue collection and reporting system to ensure full disclosure and accountability to Nigerians; create a level playing field for all investors, operators and service providers in the oil and gas sector and reduce wastage and improve efficiency to ensure maximization of government revenue. [myad]
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