Conference of Nigeria Political Parties (CNPP) has said the unveiling of the new NNPC Limited by President Muhammadu Buhari amounts to rebranding and reinforcing corruption by the President without realising the impact of the action on the anti-corruption posture of the Buhari’s administration in the eyes of the international community.

In its reaction to the newly unveiled commercial brand by President Buhari in Abuja, the CNPP said in a statement signed by its Secretary General, Chief Willy Ezugwu, that “the time has come for countrymen and women to tell those managing the upstream and downstream sectors of the oil and gas industry in Nigeria the truth.”

The CNPP said that while the citizens are groaning under pressure of adverse economic conditions, the NNPC, which does not have other serious businesses except to import petrol into the country to service its subsidy scam, has again increased the pump price of fuel.

The CNPP said, “it is difficult to understand the reason for presenting the NNPC Limited as a commercially driven company.

“It is instructive to note that before now, the NNPC has a history of non-remittance of revenue to the federation account and there has been allegations that the management has been engaged in backdoor crude swap as part of the subsidy scam in the corporation over the years.

“Now, that the NNPP will be freed from Treasury Single Account (TSA) and others, what happens to the unremitted funds?

“Since the NNPC is no longer Nigerian National Petroleum Corporation but Nigerian National Petroleum Company Limited and the same Mallam Mele Kyari is now transforming from Group Managing Director (GMD) of the old corrupt NNPC to the Group Chief Executive Officer (GCEO) in a government controlled company, it amounts to rebranding corruption and reinforcing it.

“Why has the NNPC not ended fuel scarcity in the country? Why has NNPC under Mallam Mele Kyari preferring to import fuel with billions of dollars rather than building at least one refinery since he took office?

“It is because they are benefiting in many ways as the supervisors of the subsidy scam that has been going on in the NNPC even before President Muhammadu Buhari came into the office of the President of Nigeria.

“How can President Muhammadu Buhari, who is an anti-corruption crusader, be made to unveil a rebranded den of unresolved multiple corruption?

“How can we celebrate such negative achievement as a people and as a country?

“If Mr. President wants the new NNPC to work, he must sack all the management of the old NNPC, order a thorough investigation into all the unresolved allegations against the Group Managing Director of the old NNPC and his management team, then appoint fresh hands and relaunch the NNPC Limited.

“Without this, all efforts at incorporating an NNPC Limited without first cleaning up the old NNPC amounts to rebranding and reinforcing corruption by Mr. President without realising the impact of the action on the anti-corruption posture of his administration in the eyes of the international community”, the CNPP stated.

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