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Anxiety in NNPC, other FG-owned companies over Buhari’s Presidency

The victory of General Muhammadu Buhari in the March 28 presidential election is reportedly causing panic in the Nigerian National Petroleum Corporation, NNPC, and other Federal Government-owned companies in the oil/energy sector according to a report by the The Nation Newspaper report.

According to the report, Officials of the companies, many of whom did not anticipate President Goodluck Jonathan’s defeat, are now under pressure to bring their accounts and oil receipts up to date for presentation to the in-coming government.

An oil/gas sector source, the report say that the major issue being addressed by the outgoing administration is how to put oil records in proper perspective because the new government will be interested.

“There is panic in the Ministry of Petroleum Resources, the Nigerian National Petroleum Corporation (NNPC) and other subsidiaries on oil receipts,”the source said.

“Already, officials of some of these agencies have been working round the clock to reconcile oil records in order to be able to face the Buhari transition team.

“Some of these agencies might also meet with FIRS to make sure that the records tally. No one expected a Buhari presidency but it has now come. This requires working round the clock to give full account of oil production and revenue.”

Another source qouted said: “Feelers indicate that Nigerians would want cogent explanation on the controversial $20 billion.

“So, the development in the oil sector is key to the work of the transition committee.”

The Sources also claim that some of the international oil companies (IOCs) are prepared to make their records available to Buhari.

“You can see that if any attempt is made to pad the records by any agency, the IOCs will not be part of it. This is why it is necessary for every official to be straightforward.

“Some of the IOCs are willing to release the records in their care to assist the government to put things in order in NNPC and other agencies

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