The group managing director of the Nigeria National Petroleum Company (NNPC) Ltd, Mele Kyari, has alleged that he is receiving death threats due to the ongoing reformation of the NNPC.

Mr Kyari made the allegation on Wednesday in Abuja at the Legislative Transparency and Accountability summit organised by the House of Representatives Committee on Anti-Corruption.

Mr Kyari said due to the implementation of the Petroleum Industry Act (PIA), many ongoing changes are affecting the old order.

He said the company had taken down several illegal oil refineries affecting the volume of oil production in the country.

The GMD said due to the activities and effects of the illegal refineries, daily crude oil production had been reduced by 700,000 barrels.

“Without mincing words, I want to say that this industry is on a threshold of change, there is massive change going on, and it is very expensive and of personal cost to many people, including myself.

“There is a threat to life; I can say this, I have several death threats, but we are not bothered about this, we believe that no one dies unless it is his time,” he said.

The speaker of the House of Representatives, Femi Gbajabiamila, said over six decades, the oil and gas industry had played a critical role in the economy of Nigeria.

He said the industry had provided millions of jobs, directly and indirectly, adding that income from the oil and gas sector has funded government administration to hundreds of billions of dollars over the years.

He, however, said the world was changing towards a future where the economic value of oil and gas is far diminished from what it used to be.

“Amid this evolving paradigm, the oil and gas industry still faces unique challenges at home. Due to theft and various acts of economic sabotage, we are experiencing a massive decline in crude oil production and export volume.

“Our country is the victim of bad actors determined to achieve great personal wealth at our collective expense.

“At a time of severe financial constraints, the perpetrators of this brazen heist threaten our ability to meet the demands of governance and nation-building.

“Their actions effectively amount to treason against our country, for which they must be held accountable,” he said.

Earlier, the chairman, House Committee on Anti-Corruption, Shehu Garba, said the oil and gas sector accounts for 80 per cent of Nigeria’s foreign exchange income.

He said it also accounts for 50 per cent of the nation’s total revenue, saying that anything that affects the sector affects the nation.

The lawmaker said the PIA is a watershed as it would address many challenges limiting the sector’s ultimate performance.

(NAN)