Interrogating “opacity” tag and different issues, By Olufemi Soneye

I’ve learn the story revealed by Businessday newspaper in its version of sixteenth July, 2024 with the headline: “‘World’s Most Opaque Firm’ Stench Trails NNPC Secret Offers”. Because the spokesperson of the Nigeria Nationwide Petroleum Firm (NNPC) Restricted, I might have ignored the story which was mainly a rehash of false allegations that had been rooted in ignorance. To make certain, the allegations, of their numerous shapes and dimensions, have, over time, been proved to be unfaithful. However I’m compelled to answer for 2 causes.

First, I’m conscious of the truth that falsehoods left unchallenged have all the time develop into accepted as the reality. Second, I’ve seen a constant, however worrisome development of adverse reportage verging on antagonism from the Businessday. A number of examples will suffice: Between January and now, virtually each report on NNPC Ltd is given a adverse slant. Some, amongst others, went with headlines similar to: “In comparison with Its Friends, NNPC’s N2.5tr Revenue Leaves Little to Cheer” – twenty ninth January, 2024; “Whereas NNPC Forages for Money, Its Friends Pay Bumper Dividend” – seventh Could, 2024; and “NNPC’s $6bn Cost Backlog Fuels Petrol Queues” – fifth July, 2024.

Within the report below reference, the newspaper said that “…non-publication of monetary accounts and refusal to reveal contracts signed with oil corporations could also be justifying public sentiments that the Nigeria Nationwide Petroleum Firm (NNPC) Restricted is the world’s most opaque oil firm”. The query, I ask, arising from this, is: Which monetary accounts or contracts has NNPC Ltd refused to publish?

NNPC Ltd is on file to have constantly revealed its Audited Monetary Statements since 2019. Even earlier than its transition to a restricted legal responsibility firm in 2022 below the Petroleum Business Act, it had began publishing its annual monetary statements. As will be seen above, Businessday revealed the story of the publication of the corporate’s 2022 monetary assertion on twenty ninth January, 2024. It’s worthy to notice the adverse slant the newspaper gave the story. All the corporate’s Audited Monetary Statements are revealed on its web site. However Businessday doesn’t and can’t see them due to its fixation on hanging the tag of opacity on the NNPC Ltd.

Eager on justifying its predetermined schema of portray NNPC Ltd negatively, the newspaper went forward to rejig an allegation by the previous governor of the Central Financial institution of Nigeria, Sanusi Lamido Sanusi, that NNPC Ltd didn’t remit international alternate to the Federal Authorities, an allegation that had been proved to be false. It’s a indisputable fact that NNPC Ltd, despite its new operational standing as restricted legal responsibility firm, entered into an association by which it remits its foreign exchange earnings to the CBN. That association, which was properly reported within the media, is intentionally misplaced on Businessday for causes greatest recognized to it. Quite, it went to city with a spurious report on how NNPC Ltd was the opaquest firm on the earth.

Not performed with its malicious agenda of portraying NNPC Ltd in unhealthy mild, the newspaper went forward to quote the corporate’s acquisition of stake within the Dangote Refinery as one other instance of its opaque transactions. Driving on the latest disclosure that NNPC Ltd couldn’t undergo with the acquisition of the 20% stake it had earlier introduced, Businessday got here up with the allegation that the transaction was not clear. However how might a transaction that was introduced to the world when it was carried out be opaque? It’s on file that when the transaction was introduced, there was a lot public outcry in opposition to it. Many questioned the rationale behind it. However NNPC Ltd, in step with its dedication to the operational philosophy of Transparency, Accountability, & Efficiency Excellence (TAPE), got here up with explanations as to the the reason why the Federal Authorities directed it to accumulate the fairness stake, and the furore died down.

Because the appointment of Mele Kyari because the Group Chief Govt Officer of the NNPC Ltd, the corporate has been conducting its enterprise transparently. It’s in furtherance of its transparency push that it signed up as a supporting firm of the Extractive Business Transparency Initiative (EITI) in 2019 to develop into a member of EITI’s state-owned enterprise community.

With that, it upgraded its operations to satisfy the usual for EITI supporting corporations. Since then, NNPC Ltd has not seemed again in its transparency journey, publishing each info that the general public ought to know. Within the face of varied allegations of monetary malfeasance, NNPC Ltd has all the time made itself accessible for probes or alternatives for reconciliation of figures with different companies of presidency because the case could also be; and, it has all the time been vindicated.

However Businessday, for no matter purpose(s), selected to not see NNPC Ltd.’s large strides in transparency, preferring to rehash previous allegations that had been proved to be false in each respect. Quite than grasp the tag of opacity on an organization that has proven a lot dedication to transparency, Businessday, which in 2021 conferred the award of “Power Govt of the Yr” on Mele Kyari, ought to have been extra circumspect with its report that was at greatest shambolic. Certainly, for descending so low as to publish rehashed, stale and false tales[SO1] to justify its bias, Businessday ought to grasp its head in disgrace.

As a media skilled, I respect the roles of the media in society, however the level should be made that the apparent bias, exhibited within the Businessday report in addition to within the numerous different experiences earlier than it, by which the NNPC Ltd had been forged in unhealthy mild, calls to query the professionalism of the newspaper. I subsequently demand that Businessday ought to enable professionalism to, henceforth, information its reportage.

I take this chance to make this avowal: {that a} new period in communication and knowledge administration has begun on the NNPC Ltd. The times of intimidating the corporate with falsehoods are over. Baseless and unconscionable allegations will not go unanswered. By my workplace, we are going to decisively reply to any false claims made in opposition to the NNPC; and if the false claims are so egregiously damaging, vital authorized steps to protect the integrity of the corporate can be taken. The time for passive acceptance of allegations which might be lurid and ridiculous had handed; it’s time to stand agency in defence of the reality exemplified within the NNPC’s operational philosophy of TAPE.

■ Mr Soneye is Chief Company Communications Officer of NNPC Restricted.