How Euphoria of PIA Signing Overshadows Alleged Rots In Port Harcourt Refinery

The Embattled M. D. Of Port Harcourt Refinery, Engr. Ahmed Dikko,

How Euphoria of PIA Signing  Overshadows Alleged Rots In Port Harcourt Refinery

The euphoria and the accompanied criticisms over the recent passage of the Petroleum Industry Act, 2021 (PIA) and the subsequent ascent by President Muhammadu Buhari, like other major burning national issues in the country  without doubt, has relegated some of the curious and intriguing developments in the Nigeria National Petroleum Company (NNPC) to the back seat in the national discuss.

One of such curious and intriguing  developments that was overshadowed by the passage of the PIA, was the unilateral grant of extension of service to Engineer Ahmed Dikko, the Managing Director of the Port Harcourt Refining  Company Limited (PHRC), whose tenure expired on this August.

Although, one may argued that there is nothing unusual about extending the tenure of service of public officers, but it must be noted, that such extension are usually granted or done in situations where there are no competent hands to immediately fill the vacuum that may be created by the outgoing officer or officers and secondly but more importantly, the officer whose tenure is sought to be elongated must have been outstanding in the performance of his duties and as well be upright. 

Unfortunately, Engineer Ahmed Dikko can not be said to be in these categories of public servants as he failed to scale  the  hurdles while presiding over the Porharcourt Refinery as the Managing Director.

In the first place there are well trained and experience personnel with ideas and skills within the  NNPC subsidiaries  to take over from Engineer Ahmed Dikko.

Secondly, The tenure of Engineer Dikko as the Managing Director of PHRC has been tainted with  several behind the scene  deals which are detrimental to the Economic interest of both the country and the NNPC. 

No wonder several groups and experts  within the Petroleum Industry have continue to  criticise the grant of extension of his service and also call for his resignation untill the euphoria of the signing of the PIA by the president overshadowed all contending issue within the corporation.

Prominent among the underhand deals under Ahmed Dikko as MD of PHRC, was the unilateral sale, without any recourse  to the board of NNPC of 30 million litres of Slop Oil to Yunusawa Petroleum Resources Limited for the sum of N1. 890 billion, in October 2020.

Yunusawa Petroleum Resources Limited according to source, is alledged to be one of those companies formed by top  insiders within NNPC and thier cronies for the purpose of running deals that are common place within the corporation  and it’s subsidiaries. 

Our reporter gathered that the illegal sales of the 30 million litres of  Slop Oil to Yunusawa Petroleum Resources Limited by the Porthacourt Refinery under Engineer Dikko, got exposed when the company did not have the carriage capacity to lift the allocated Slop Oil and had to advertise on the internet for an off taker.

It was the advertisement for an off taker of the product online by Yunusawa Petroleum  Resources Limited that exposed the deal, consequent upon which the NNPC Board has to cancel the sale after a query has been issued on the illegal sale.

Upon the discovery of the illegal sale of the Slop Oil to Yunusawa Petroleum Resources Limited, the Management of the NNPC had to stop the sale to Yunusawa Petroleum Resources Limited  and ordered a new bidding process which must follow normal due process. 

Consequently, after the completion of the new bidding process which complied with due process, Messrs SignOil and Gas Limited emerged as the preferred bidder and winner of the bid on June 22, 2021, with a bid price of N3, 330 billion,, for thesame 30 million litres of Slop Oil which Engineer Dikko unilaterally and single handedly sold to Yunusawa Petroleum Resources Limited for N1, 890 billion in October 2020.

The implication of the above is that if the illegal sales has not been detected, the country would have been shortchanged by a huge sum of N1. 440 billion.

There is no doubt about the negative impact of the illegal sales of the 30 million litres of Slop Oil on both the NNPC, it’s management as well as the country’s economy.

Although, other writers have expressed thier views in thier different write ups on the issue. However, one of the major effect is the circumvention of due process which is allegedly common in NNPC and the loss of revenue to country to the tune of N1. 440 billion, under Engineer Dikko at a period the country is in dare need of resources to fund it’s budget.

There is no gain saying, that Engineer Dikko’s action by the illegal sale of the Slop Oil without recourse to the NNPC Board amounted to serious economic sabotage, which would have warranted serious sanctions in some sane societies, rather than being rewarded with elongation of tenure.
The other negative impact created by the illegal and unilateral sale of the 30 million litres Slop Oil on the Board of the NNPC was however, reflected, albeit wrongly, in an online publication, by Emmanuel Mayah published on July 22, 2021, wherein it was stated that “industry players said the only reason the NNPC GMD and the COO Refinery can possibly gave for approving the export of Slop Oil is that the Corporation is broke and in need of money” 

Some players in the Industry, whose views were sought on the issue of tenure Extension for Engineer Dikko as MD of Porharcourt Refining Company Limited, decried that it is only in Nigeria that people are rewarded for running down both public and private institutions and still get accolade for it.

They added that is why things are not working in the country is because the system seems to reward indolence rather than merit.

Apart from the issue of illegal sales of  30 million litres of Slop Oil to Yunusawa Petroleum Resources Limited, our reporter are in possession of other damaging reports of underhand deals at the Port Hacourt Refinery which the management of NNPC has refused or neglected to take appropriate action on.