The recent scandal in the Nigerian National Petroleum Corporation involving the disappearance of N11bn worth of petrol is another disturbing occurrence in a company to which scandal, fraud and inefficiency have become second nature. It is even more worrisome that the trend is persisting at a time the country is going through a serious financial crunch due to economic recession and, more importantly, under a government that is pursuing an anti-corruption agenda.
Given its history of desultory management, there can be no better time than now to start subjecting the activities of the national oil firm to stricter and closer scrutiny. Besides, it is time to carry out a long-overdue restructuring of the NNPC so that all avenues through which leakages and fraud occur can be firmly blocked. A complete overhaul of this corrupt oil behemoth, notorious for making losses, has become imperative if the government is desirous of bringing sanity to the place and achieving a turnaround in its fortunes.
Add Comment
You must log in to post a comment.