$6bn Debt, We Are Facing Financial Strain – NNPC

‘We expect nothing good from Tinubu, APC’
The Nigerian National Petroleum Company, NNPC Ltd., yesterday agreed with Nigerian media that the corporation is own marketers a total sum of $6bn.
In a press release signed by the NNPC spokesman, Olufemi Adeneye, Chief Corporate Communication Officer, made available to The National Press Newspaper reads: “NNPC Ltd., has acknowledged recent reports in national newspapers regarding the company’s significant debt to petrol suppliers. This financial strain has placed considerable pressure on the company and posses a threat to the sustainability of fuel supply,” the statement said.
In reaction to this and rumour of President Tinubu changing underperformed ministers shortly after his return from China. The opposition political parties have said they are not expecting anything good from the APC-led Federal Government.
Speaking to newsmen last week, Yunusa Tanko, the campaign spokesman for a former Labour Party Presidential candidate, Peter Obi, said the party was more concerned with improved electoral reforms.
He said, “We are not really interested in whether Tinubu changes or sacks his ministers. One of the major areas we thought there would be an improvement in is our demand for electoral reform. If we have an improved electoral reform, it will inevitably give us a good opportunity for credible elections to take place.
“Sacking or replacing your cabinet with new people is an extension of state capture. He will only be replacing them with his loyalists which we know will be a strategy ahead of 2027. But if he is really serious about improving the performance of his governance at the moment, he can start considering reshuffling his cabinet. Quite a number of the ministers are not measuring up to expectations.”
On his part, the Deputy National Publicity Secretary of the People’s Democratic Party, Ibrahim Abdullahi, attributed the ministers’ woeful performance to Tinubu’s lack of empathy for Nigerians.
Abdullahi said, “It is not about changing the cabinet. When you acquire power through fraudulent and desperate means, it would take a million efforts, programmes, and policies to correct it because something cannot stand without a foundation. So what is the foundation of his presidency? That is the crux of the matter. As PDP, we are not expecting anything good during this period of divine grace, that God will keep him in power.”
The National Secretary of the Coalition of United Political Party, Peter Ameh, cautioned Tinubu against making the same mistake as his predecessor, Muhammadu Buhari, by keeping his ministers for eight years.
He said CUPP was not surprised by the failure of Tinubu’s ministers, adding that a responsible government would have dismissed them long ago.
Meanwhile, the Executive Director of the Centre for Anti-Corruption and Open Leadership, Debo Adeniran, said only less than 15 ministers had met the expectations of Nigerians with their performance.
He argued that for Tinubu to succeed, he must “weed out” ministers underperforming and merge ministries and agencies performing similar functions.
He listed some of the underperforming ministers to include: the Minister of Education, Prof. Tahir Mamman; Minister of Health, Muhammad Pate; Minister of State for Petroleum Resources, Ekperikpe Ekpo; Minister of Transportation, Sa’idu Ahmed Alkali; and the Minister of Power, Adebayo Adelabu.
Adeniran described some of Tinubu’s appointments as “jobs for the boys” and called on the President to urgently implement the recommendations of the Steve Orosanye report to reduce the size and cost of government.
“Most of the ministers are not performing; they are just noise makers and they seem not to understand the job they have been appointed to do. From our assessment, few of the ministers, less than 15 of them are performing.
“The President needs to weed out more than two-third of the crowd he put together as his cabinet. If he has 48 ministers, we are saying that he should weed out a minimum of 36 of them, so that we will know those that are the performing ministers.
“If he (Tinubu) continues with these people, many of them are pulling him back on what he calls his mission in office and that is why Nigeria is in problem today. Weeding them (ministers) out will stabilise his administration more and make those that will remain to be focused. When he weeds out that two-third, he should not replace them with another, he should just merge the ministries with other ones and supervise others directly”, Adeniran said.
Also speaking, the Secretary of the Joint Action Front, Abiodun Bamgboye, attributed the poor performance of the ministers to the anti-people policies of Tinubu, saying even if the President sacked and replaced them with angels, they would fail.
According to him, the President is trying to save his face by planning to sack underperforming ministers, adding that the poor performance of the ministers was a reflection of Tinubu’s leadership.
“When you look at the current economic situation of the country, it does not suggest that any minister has performed to the expectations of Nigerians, but is not the question of ministers, it is the economic policies that this regime adopted,” Bamgboye said.
An economic expert, Aliyu Ilias, argued that holding ministers accountable by reducing their numbers could serve as a check on performance and improve governance.
Ilias stated that the current administration’s decision to maintain a large number of government officials was misguided.
He said, “We have not seen them sacking or reducing ministers. Rather, we see them praising them by saying that there is a livestock ministry again. This doesn’t make sense. Let’s give the President the benefit of the doubt. Sacking underperforming ministers will help this government and this will be like a check and balance on them to perform well.”

Leave a Reply

Your email address will not be published. Required fields are marked *