Atiku Challenges President Tinubu’s Directive on Crude Oil Sales: A Legal and Operational Standoff

Former Vice President Atiku Abubakar has voiced his concerns over President Bola Ahmed Tinubu’s recent directive to the Nigerian National Petroleum Company Limited (NNPCL) to transfer the responsibility for crude oil sales to the Central Bank of Nigeria (CBN).

According to a statement released by the former Vice President, this move is not only illegal but also undermines the operational independence of the NNPCL.

Atiku, who is known for his expertise in the oil and gas sector, argues that the CBN lacks the legal authority to receive crude oil sales proceeds from the NNPCL.

He further explains that this arbitrary order could potentially disrupt the financial operations of the NNPCL, which has been a key player in the Nigerian oil and gas industry.

The former Vice President also expressed his concerns about the possible implications of this directive on the transparency and accountability of the NNPCL.

He believes that the decision could lead to a lack of oversight and control, thereby hindering the company’s ability to effectively manage its resources and finances.

In light of these concerns, Atiku has urged President Tinubu to reconsider his decision and to ensure that the NNPCL’s financial operations remain within the purview of the law.

He also called on the government to prioritize transparency and accountability in the oil and gas sector, in order to foster a more conducive business environment for both local and international investors.

As the debate on this issue continues, the Nigerian public and the international community are closely watching to see how President Tinubu and his administration will address these concerns and navigate the complexities of the Nigerian oil and gas industry.