PDP Raises Alarm Over Plot to Fritter N1.7t Through Hazy NNPC Deal

June 1, 2021
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The Peoples Democratic Party (PDP) is alarmed by alleged plans by
fraudulent officials in the All Progressives Congress (APC)-led
administration to divert over N1.7 trillion, ($3.9 billion) to their
personal purses, under the guise of acquiring 20% shares in the $19. 5
billion refinery being built by Dangote Group.

Our party is worried over the opaque and nebulous deal being pushed by
fraudulent officials of the Nigeria National Petroleum Corporation
(NNPC), which not only allows corrupt persons in the government to
divert the funds, but also entangles and smears the unsuspecting firm
with corruption

While the PDP has nothing against any genuine and honest incentives for
private refineries or any moves to divest our economic interest in the
private sector, the party insists that such must not be used as a ruse
to siphon funds from the national treasury.

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Moreover, is it not an absurdity for a government, which cannot fix our
refineries, to be planning to spend such huge amount of money in a
venture that it would be a minority stakeholder, if not in the pursuit
of sleazy deals by corrupt officials?

This is more so as the payment arrangement involving crude barter has
remained hazy, underhanded and lacking in the required transparency in
evaluation, cost, and exchange terms.

Our party therefore demands that the Federal Government immediately halt
this nebulous process. The transaction must be made completely open, in
terms of conditions for crude barter, signatories, duration, equity
sharing and signatories, among other conditions.

The PDP also urges the Dangote Group and other concerned investing firms
to be wary of going into any kind of deals with corrupt officials of the
APC administration.

Our party charges the National Assembly to protect the nation by
summoning the management of the NNPC and immediately commence a holistic
investigation into this deal.

The PDP insists that any process involving the divesting of our nation
economic interest by the government must be made open, transparent and
not allowed to become a conduit pipe for treasury-looting officials in
the APC administration.

Signed:

Kola Ologbondiyan
National Publicity Secretary

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