NNPC officials, 2 petroleum firms exposed in 130M litres fraud

The 130 million litres which were imported by the NNPC downstream and stored in private depots belonging to Capital Oil and MRS were allegedly sold by the firms without seeking permission or informing the NNPC.

NNPC Tower

According to Premium Times, the scandal involving the firm of a controversial businessman, Ifeanyi Ubah, Capital Oil, MRS and NNPC Retail Services could lead to the sack of the three NNPC officials.

Premium Times reports that an investigation committee set up by the Managing Director of the NNPC Retail, Esther Nnamdi-Ogbue, revealed that the NNPC had stored 90 million litres of petrol at Capital Oil depot in Lagos and another 40 million litres at MRS depot.

According to the report, MRS admitted to have sold the stock in its possession but explained it would replace the NNPC petrol immediately the vessel of petrol it was expecting arrives.


Expectedly, MRS has reportedly replaced the 40 million litres which is said to have been loaded for sale at various NNPC stations.

Capital Oil on the other hand according to Premium Times did not only sell the NNPC stock without permission or remitting the money, it has no immediate plans to replace the oil as it is  not expecting any vessel.

Selling NNPC petrol stock in Capital Oil depot seems to be a standard practice as a staff member of the firm believes it is not a scandal.

"Everybody here (Capital Oil) knows we've been selling the NNPC petrol. We have not been importing but have been selling. I'm surprised they are raising issues about it now" A junior staff at Capital Oil to Premium Times.

Meanwhile, the NNPC official, who monitors the petrol stock at depots in Lagos had been reporting Capital Oil to NNPC official in Abuja since January but no action was taken.


"He raised at least two memos indicating what Capital Oil was doing, but the appropriate officials in Abuja did not act," An NNPC source told Premium Times.

"This is not the first time Capital Oil will be doing this to us. We'll see what the management will do on this." The source said

The investigation committee, therefore, found the NNPC officials in Abuja culpable of inaction and were recommend for dismissal.


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