The Nigerian National Petroleum Corporation (NNPC) Thursday presented its budget to the House of Representatives, marking the first time the state-owned firm would do so in its 43 years of operation.
It had in June published its audited financial statements for the first time ever also.
Mele Kyari, the NNPC chief, told the lower legislative chamber that all the refineries had been closed down because vandals and thieves were hindering efforts to supply crude to the plants.
“Day before yesterday, the House achieved a milestone by the passage of the PIB for second reading without any hindrance. We have all been witnesses to what has happened in the last 13 years. PIB was submitted five times to the parliament,” said Musa Sarkin-Ada, chair of the joint House Committees on Petroleum Resources (Upstream, Downstream and Gas) for budget defence.
“Most of the time when it came, it was dead on arrival, except when it came from a private member bill from the Senate, which was not assented to by the President, which was as good as not born.
“Going by what had happened initially, most of the problems came from the NNPC. They considered PIB as something that could undermine them and take away what they call privileged rights.”