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Ribadu pledges to bring accountability to petroleum sector

by Business News Report

Malam Nuhu Ribadu, the Chairman, Petroleum Revenue Task Force, has pledged to ensure accountability and transparency in the petroleum sector in line with the mandate of the task force. Ribadu made the pledge on Tuesday in Abuja after the inauguration of the 20- member special task force by the Minister of Petroluem Resources, Mrs Diezani Alison-Madueke.
“We shall work diligently to meet the expectations of Nigerians; we seek to renew efforts by promoting values that support a new dawn of business conduct in the sector. We shall ensure that those who play by the rules enjoy all the best support and the unscrupulous players get a red card.’’ The former EFCC boss decried the lack of transparency in the petroleum sector and appealed to Nigerians to support the task force in achieving its mandate.
Ribadu assured that the committee would perform and described the members as thorough breed professionals, ready to contribute to national development. Earlier, Alison-Madueke had called for recommendations that would bring reforms to the petroleum sector. “Our journey to transformation is irreversible, our mission is to transform the petroleum industry and in doing so change the way business is currently done within this sector.
“Our purpose is to enhance the commercial and technical viability of the sector, inculcating full transparency and accountability and thereby ensuring value for money for the people of the Federal Republic of Nigeria.’’ She gave the task force 60 working days to complete the assignment and submit its report. The terms of reference of the task force include working with consultants and experts to determine and verify all petroleum upstream and downstream revenues (taxes, royalties) due and payable to government. The task force is also expected to submit monthly reports for ministerial review and further action. The members of the task force included former Head of Service, Mr Steve Oronsanye; Malam Abba Kyari; Ms Benedicta Molokwu; Mr Supo Sasore; Mr Tony Idigbe; Mr Anthony George-Ikoli; Dr Omolara Akanji and Mr Olisa Agbakoba.

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