The House of Representatives Committee on Petroleum Resources Upstream has urged the Nigeria National Petroleum Corporation, NNPC to step up its operations in order to raise the N10 trillion needed to fund the 2020 budget.
The Chairman of the Committee, Musa Sarki Adar, made the appeal to the Group Managing Director GMD of NNPC Mallam Mele Kolo Kyari when he appeared to interface with the lawmakers on the operations of the agency in the upstream petroleum sector.
The lawmaker who expressed concern over budget deficit Nigeria is always having, despite the quantity of petroleum it produces, called on the NNPC to generate more revenue for the country.
Sarki Adar explained that “With this formal engagement with NNPC and other agencies, there is need to block all the loopholes in the revenue profile of the agency for the benefit of Nigeria citizens.”
According to the GMD, there are challenges in the oil and gas sector that the management of NNPC is working to engender efficiency in all its operations.
Mallam Kolo-Kyari also appealed to the lawmakers to help put in place relevant legislations that would help in attracting foreign investment into the petroleum sector.