Reps Speaker Demands Accountability, Stronger Oversight of NNPCL
Speaker of the House of Representatives, Tajudeen Abbas, has called for greater corporate accountability and effective legislative oversight of the Nigerian National Petroleum Company Limited, warning that its commercial independence must come with responsibility. Abbas said the transformation of the former NNPC into a commercially driven company was intended to improve efficiency, attract investment and maximise returns from Nigeria’s petroleum resources. However, he maintained that commercial autonomy must go hand in hand with accountability and protection of public resources.
Abbas said five years after the Petroleum Industry Act was enacted, there was a need to assess how much of its objectives had been achieved, particularly in transparency, corporate governance and investment in the petroleum sector. He explained that while NNPCL management should retain the independence to make commercial decisions, the legislature must ensure compliance with statutory obligations and protect national assets without interfering in legitimate operations.
