House of Representatives Speaker Tajudeen Abbas has urged the Nigerian National Petroleum Corporation (NNPC) to adopt stronger corporate accountability measures and to submit to tighter legislative oversight, saying such steps are essential to preserve the oil giant’s autonomy.
Speaking at a recent parliamentary session, Abbas emphasized that the NNPC, as the country’s flagship oil and gas company, must operate transparently and be answerable to elected officials. He warned that without robust oversight, the corporation’s independence could be compromised.
The speaker’s call comes amid ongoing public and governmental concerns about the NNPC’s management practices, which have previously drawn criticism for alleged inefficiencies and financial irregularities. Abbas’ remarks signal a push for reforms that could tighten the relationship between the corporation and Nigeria’s legislative arm.
Abbas did not outline specific legislative proposals but stressed that any framework should balance the need for corporate autonomy with the imperative of accountability to the nation’s taxpayers and the broader economy.
Industry observers note that the NNPC, which controls the bulk of Nigeria’s oil production and revenue, plays a pivotal role in the country’s economy. Strengthening oversight could affect how the corporation engages in contracts, investments, and revenue sharing with the federal government.
The speaker’s demand adds to a growing chorus of calls from lawmakers, civil society groups, and international partners for greater transparency and governance reforms within Nigeria’s oil sector.
<small>Source: Punch Nigeria — read the original story there.</small>
