Mkpoikana Udoma
Port Harcourt — The Permanent Secretary, Ministry of Petroleum Resources, Amb. Nicholas Agbo Ella, has reiterated the critical role of Nigeria’s petroleum industry in the country’s economy, stating that the sector contributes approximately 95% of foreign exchange earnings and 85% of government revenue.
Ella made this known during a sensitization workshop themed “Curbing Corruption at the Workplace”, organized by the Anti-Corruption and Transparency Unit, ACTU, of the Ministry.
He noted that despite the petroleum sector’s importance, it has historically been vulnerable to financial malpractices, contract opacity, revenue leakages, and operational inefficiencies, all of which have significantly undermined national development efforts.
“Our industry has been the backbone of Nigeria’s economy, yet it remains plagued by corruption. According to the 2021 Nigeria Extractive Industries Transparency Initiative, NEITI Oil and Gas Industry Report, Nigeria lost approximately $46 billion in oil revenue between 2009 and 2020 due to operational inefficiencies, contract opacity, and illicit financial flows,” he stated.
Ella further highlighted Nigeria’s poor ranking in global corruption indices, citing the 2023 Global Corruption Index, which placed Nigeria 150th out of 180 countries, with corruption in the extractive industries identified as a major factor.
To tackle these challenges, the Permanent Secretary expressed optimism about the inauguration of the Anti-Corruption and Transparency Unit, describing it as a vital step towards institutionalizing ethical practices, improving governance structures, and ensuring regulatory compliance within the Ministry and its affiliated agencies.
“The inauguration of this unit is a bold step towards embedding ethical leadership, systemic accountability, and corporate integrity in our operations,” he said.
Ella also acknowledged the support of the Ministers of State for Petroleum Resources, the Independent Corrupt Practices and Other Related Offences Commission, ICPC, the Economic and Financial Crimes Commission, EFCC, and NEITI in advancing anti-corruption measures within the sector.
Also speaking at the workshop, the Director of Special Duties in the Ministry, Mr. Salami Adebola, underscored the devastating consequences of corruption on the nation’s economy. He urged participants to demonstrate strong commitment to integrity and transparency to ensure accountability in their roles.
“Corruption weakens institutions, drains public funds, and discourages investment. We must take collective responsibility to uphold transparency and ethical conduct,” Adebola emphasized.
Earlier in his welcome address, the Chairman of ACTU in the Ministry, Mr. Emmanuel Okon, provided insights into the unit’s establishment and mandate.
Okon explained that ACTU, an arm of the ICPC, was approved by the Federal Executive Council in 2001 to serve as an in-house check mechanism for preventing corruption in Ministries, Departments, and Agencies.
“Our mission aligns with global best practices in building strong institutions and supporting governments in fighting corruption and unethical conduct in workplaces,” Okon stated.
The workshop featured lectures from resource persons at the ICPC headquarters, focusing on best practices for curbing corruption in the petroleum sector.
The event concluded with the unveiling of the ACTU Banner, symbolizing the Ministry’s renewed commitment to transparency and accountability.
This article was originally posted at sweetcrudereports.com
Be the first to comment