International trade in petroleum products is a sector of critical importance to many countries, including Nigeria. Recently, the National Anti-Corruption Crusader (NACC) raised critical questions regarding the Nigerian National Petroleum Company Ltd. (NNPCL)’s exports of Low-Sulphur Straight-Run (LSSR) fuel oil from Port Harcourt.
Samson Idoko, the NACC Coordinator, put forward a view demanding transparency from NNPCL. He called on the company to provide tangible evidence of its exports by publicly sharing the agreement it had with Gulf Transport & Trading Limited (GTT), a Dubai-based company.
One of the concerns raised by Idoko is the strange transition of GTT from a long-standing partner in crude oil trading with NNPCL to a sudden recipient of LSSR exports. This situation raises legitimate questions about the motivations for this transition and the need for greater transparency on the part of the NNPCL.
As Nigerians grapple with the economic fallout from the removal of fuel subsidies, it is essential that businesses act with greater responsibility and transparency. The calls for accountability by the NACC are therefore well-founded and necessary to restore public confidence in the operations of the NNPCL.
Furthermore, the role of the media in covering this matter is crucial. It is essential that the media exercise journalistic diligence and objectivity in verifying the information provided by the NNPCL. Inviting the press to document the loading of the oil exports could help to dispel doubts and enhance the credibility of the entire process.
Ultimately, the issue of NNPCL’s LSSR exports is much more than just a commercial matter. She stressed the importance of transparency, accountability and integrity in business operations, especially in sectors as sensitive as the oil industry. The expectations of the public and anti-corruption organisations such as the NACC must be taken seriously by the authorities and companies involved to ensure fair and legitimate trade.