Sunday Independent (Nigeria): Reps set to sack Kupolokun: “Sunday Independent learnt that the committee was not happy with NNPC’s handling of the Shell Petroleum Development Corporation (SPDC) over the sale of Nigeria’s crude oil.”: Sunday 15 January 2006

Charles Okogene

Lagos

Feelers from the Committee on Petroleum of the House of Representatives suggest that lawmakers would soon move to remove the Group Managing Director (GMD) of Nigerian National Petroleum Corporation (NNPC), Dr. Funso Kupolokun.

Sunday Independent learnt that the committee was not happy with NNPC’s handling of the Shell Petroleum Development Corporation (SPDC) over the sale of Nigeria’s crude oil.

Nigeria, according to our source, has been losing millions of dollars through the active connivance of top NNPC officials in the sale of crude accruing to Nigeria from the NNPC/Shell Joint Venture agreements.

According to our source, the House Committee on Petroleum after an investigation carried out on the terms of the joint venture agreement discovered that NNPC was not only in the habit of re-selling Nigeria’s share of crude from the joint venture at very low price, but also imports the same crude from Shell at an exorbitant price.

Our source who took part in the investigation said this practice, which has been on for long, based on the committee’s findings, has benefited very highly placed NNPC officials some of whom the source said are “now millionaires in dollars.”

The Honorable Cairo Ojougboh led House Committee on Petroleum, our source said has therefore recommended in its report, which would be sent to the presidency, that Kupolokun be relieved of his job as the GMD of NNPC over his inability to put a halt to the fraud that has deprived Nigeria of millions of petrodollars.

“What we discovered is messy... what we found out has shown that either Kupolokun does not know what he was sent there to do or that he deliberately chose to look the other way as far as the sale and resale of Nigeria’s share of crude from the NNPC/Shell venture was concerned.

“But whether he chose to turn a blind eye to all the under the table deals or does not know his job as the GMD of the corporation, we will tell Nigerians what we have discovered at the floor of the House on Tuesday, January, 17. Our discovery will shock Nigerians. We’ve decided that he should go so that somebody who can do the job well can be appointed. We will stop at nothing to make sure he is removed” our source vowed.

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