it is obvious to blind that this man just got the job becos of his contacts and connections. i bet he got zero idea what is going on that opaque and corrupt oil industry..
Agbakoba's view is easily understood: on paper and in law, the NNPC is not a regulator, but in practice, it could be seen as a regulator because its functional activities extend into the sphere of the regulator. You must understand that Olusa Agbakoba isn't just a legal luminary. He leans towards activism also. So, his views on issues are drawn from such orientation. He does not just focus on what is as per the law but what ideally should be.
When a Nigerian executive and public servant has trophies, flags, cups, and medals behind him, you can prepare for a long day of nothingness. As I am loathed to watching paint dry, I exited this interview after a very tough and frustrating five minutes.
What a convoluted explanation to simple questions. So difficult to watch! Contrast this to Olisa's interview and submissions. Now, you can appreciate that the word " competence" is esoteric. And incompetence breeds corruption! SMH
Nigeria can afford latest technology to monitor all the crude oil coming in and out in a second like the Saudi Arabia has, but the same story every day. I rest my case
I have not seen that political or public service agent who can afford the price of truth which people are always wanted them to say. Truth is very Expensive. If they can provide the truth, then our problems are over.
This man is a reflection of the problem with Nigeria and it's oil industry. He is too long winded and cannot complete a single without rambling on and on 😮. He claimed that when he resumed office, he launched an investigation into Nigeria oil theft. I'm surprised the host didn't ask for a copy of that report??? Why not make it public? Did the investigation reveal who the oil thefts are? Crude cannot be moved without infrastructure so the thieves are an organized system. Terrible for a country with no other major sources of revenue.
Is Mr. Komolafe implying that Nigeria's national energy security should be at the whim and caprice of the international oil market? The legal provision of "willing buyer, willing seller" in the Petroleum Industry Act is undermining the country's energy security.
As once a player in the oil industry when I worked with Mobil Producing Nigeria, I want to specifically state here that both Mr. Komolafe and any other staff in Nigerian Petroleum Regulatory Commission CANNOT say with certainty what quantity of crude oil is lifted due to the following reasons: 1. The meters are calibrated by suppler, 2. The oil tanker capacity is specified by buyer and 3. The Instrument Lab are controlled by IOCs. 4: The staff are not meticulous in monitoring and ascertaining the correctness of facilities due to some gratifications to staff.
Thanks so much. I learned about these practices in my oil and gas class all the way back to 2005. I was honestly hoping that Nigeria had overcome this embarrassing aspect of the industry. This again fortifies Agbakoba’s position and it just makes me really sad.
Komalafe is VERY dishonest. A simple question is being made to look so complicated. This is the man who earns millions from doing NOTHING. Gross incompetence!
Having listened to the learned silk and the NUPRC, I strongly believe that silk was right. Nigeria simply happened so he recanted himself. If you are a regulator, how come you don’t have access to metering devices of the operators? Who is regulating who? Go and see what is happening at the UAE. Again NUPRC claims that the loss of crude oil could be attributed to metering inaccuracies and that that would save US dollars? How? Nigeria is a mystery. Again, this speaks to willful incompetence that the silk highlighted and also to corruption. I am tired.
Remove all the executives of NNPC limited. Nigeria must come first and not individual interest . It’s disturbing that almost every policy is flawed and shady since Mohammed Buhari.
I believed that those companies running to off-shore oil facilities might also be stealing Nigeria oil because nobody knows the amount of oil they pump from these facilities on daily basis. And why every president of Nigeria in the recent past and present are also Oil Minister? It is no right.
Very big lie. NNPC can never sell to Dangote when they are the same ones bringing in refined pms. Dangote is paying $6 more on 1 barrel of crude. Dangote will rather pay that money in Nigeria.
Whatever may be Dangote's demand, it pays the country more to have Dangote in full operation than continuing to relying on importation of these petroleum products into an oil producing nation like Nigeria. All these games got to stop, the masses have suffered enough.
What the guy is saying is that Dangote wants to buy crude lower than the prevailing international market, which will be more or less a subsidy to a private enterprise. After all, Dangote has stated that he is going to sell to Nigeria at the current international market price.
@naijasoldieroflove Oil markets are forward sales. So NNPC had earlier commitments when he bought them. The IOCs also have commitments to the refineries they own. So he now he wants to present oil at a discount for the future. He should have planned ahead because nobody would wait for the refinery to be completed when the date of completion was uncertain.
@stevencigwegbe3344 What will IOCs and NNPC gain to deliberately sabotage him? Take a class in how oil markets work. This guy went further to even accuse importers that they are selling bad oil. Oil is not like cement, where he is trying to seek monopoly through state patronage.
@@Frank-Bediko62 The action on ground doesnt suggest what you are saying. Dangote is buying from other countries at a higher price of the international market. He is paying $6 premium. I had always suggested the oil in Nigeria does not belong to Nigeria. You have just affirmed it.
Reviewing of the PIA is not the main problem. The corruption in the Industry is our major problem. The IOCs know our people and take advantage of it. The truth is that Nigerians are not in charge of ascertaining the actual quantity of crude lifted. All the regulations executed by Mr. Komolafe CANNOT change monitoring the oil theft. It is not true that everything is properly structured in NNPC.
What's the purpose of the fortnightly meter calibration supposedly witnessed by NUPRC? Secondly buyers pay for the crude at the export point and not at the flow station meter.
Aliyu dangote, refinery is imporin crude oil from overseas namel usa and Brazil. Don't forget forget he is going to sale according to the international market demand and supply demand. Besides, why is Nigeria 🇳🇬, refineries be returned back into production?, or be privatized so that will be abl to earn foreign currency henc our is dollarise economy. If Nigeria 🇳🇬 is above all why must cabals and curruption be other of the day in the apc government 4 nearly 10yrs ?
This is Nigeria..while key individuals are taking exception to television interviews..how much Nigeria crude oil has been stolen in the last 12 months..what is the trajectory of the Nigeria Oil and Gas industry..what is the impact of the O & G sector on the common Nigerian..even this Komolafe man does not fill me with confidence..
This supposed to be the main source of income in a country but look at how and what this guy is saying. If I were a president I would have fired this guy before he leaves or finishes this interview. Olisa agbakoba SAN is right when he talks about incompetence.
Just imagine, this is a person heading and an organisation . He can't even answer a simple question . He is just confusing himself . What's I mean, I mean? Too much I mean . How the agency that he is heading perform well ?
NNPC is playing the ostrich they are very very competent. It is not Nigeria or the presidency don’t be deceived. Someone argued with me that NNPC did not have the power to provide crude to Dangote. lol 😂 Read article 109. The chief commissioner of Nuprc is saying that Olisa Agbakoba was wrong in suggesting that NNPC was the regulator, he suggested that NUPRC regulates NNPC very laughable that’s like saying I go-dye will beat up mike Tyson in a boxing match. The commissioner also suggested that there is willing buyer willing seller in the act and played a Stevie wonder on subsection 2 where there is penalty for not adhering to the act via article 109. All the commissioner kept saying was that there’s willing seller willing buyer clause as if he was on the side of the IOCs, let us assume without admitting that the willing seller willing buyer clause cannot be touched why then do we have a regulator? If we extrapolate this argument, it then means that the 4 museumneries sorry I meant refineries will be buying crude oil from America and Brazil abi? Nzulezu. So why do a stupid turn around maintenance for refineries you will never supply local crude to ? Are you seeing the game? NNPC is invisible, powerful, competent and the smartest organization. Until we end NNPC just forget refining crude in Nigeria. NNPC is stronger and powerful than the presidency, military, the media and parliament all put together. I have been saying this for decades. It’s the 4th major largest ethnic group in Nigeria.
Dude just wasted half-hour beating about the bush trying all he can to dodge every question thrown to him. Are you still suprise why Nigeria is nosediving very fast? Round peg in round hole indeed.
Who is this man that can not answer simple question (i mean, i mean is that answer u ask of crude theft he answer something else) this are the regulators refusing to do what will make Nigeria see progess
This fellow is not sound enough. I will do a much better job at answering those questions with my knowledge of upstream oil and gas production and metering system. It's a shame though that despite DPR's regular visits to well heads for MER, we are still struggling to confirm how much crude we produce daily. It's a shame!
This man is confused, what is he even saying. All this quake people of misusing and deceiving their self. Nonsense. Where and how is the crude oil theft. From where and where are they stealing from the crude oil
The man is not confused they put him there. NNPC is not under the control of government. NNPC is playing the ostrich they are very very competent. It is not Nigeria or the presidency don’t be deceived. Someone argued with me that NNPC did not have the power to provide crude to Dangote. lol 😂 Read article 109. The chief commissioner of Nuprc is saying that Olisa Agbakoba was wrong in suggesting that NNPC was the regulator, he suggested that NUPRC regulates NNPC very laughable that’s like saying I go-dye will beat up mike Tyson in a boxing match. The commissioner also suggested that there is willing buyer willing seller in the act and played a Stevie wonder on subsection 2 where there is penalty for not adhering to the act via article 109. All the commissioner kept saying was that there’s willing seller willing buyer clause as if he was on the side of the IOCs, let us assume without admitting that the willing seller willing buyer clause cannot be touched why then do we have a regulator? If we extrapolate this argument, it then means that the 4 museumneries sorry I meant refineries will be buying crude oil from America and Brazil abi? Nzulezu. So why do a stupid turn around maintenance for refineries you will never supply local crude to ? Are you seeing the game? NNPC is invisible, powerful, competent and the smartest organization. Until we end NNPC just forget refining crude in Nigeria. NNPC is stronger and powerful than the presidency, military, the media and parliament all put together. I have been saying this for decades. It’s the 4th major largest ethnic group in Nigeria.
This guy is a criminal and just talking or making no sense. In our country where we have larger percentage 60%. This is madness. Let Nigerian withdraw their license. Review the Acts or the Law immediately but not talikng rubbish
This man said a lot and at the same time said nothing! I don't know if it is deliberate or not, he ended up confusing everybody. Listening to his interview was very frustrating. In spite of the fact that the interviewers gave him enough time (hardly interrupted him), he wasted everyone's time and waffled his way through, refusing to provide direct answers to simple questions.
That is the idea to discombobulate you. NNPC is playing the ostrich they are very very competent. It is not Nigeria or the presidency don’t be deceived. Someone argued with me that NNPC did not have the power to provide crude to Dangote. lol 😂 Read article 109. The chief commissioner of Nuprc is saying that Olisa Agbakoba was wrong in suggesting that NNPC was the regulator, he suggested that NUPRC regulates NNPC very laughable that’s like saying I go-dye will beat up mike Tyson in a boxing match. The commissioner also suggested that there is willing buyer willing seller in the act and played a Stevie wonder on subsection 2 where there is penalty for not adhering to the act via article 109. All the commissioner kept saying was that there’s willing seller willing buyer clause as if he was on the side of the IOCs, let us assume without admitting that the willing seller willing buyer clause cannot be touched why then do we have a regulator? If we extrapolate this argument, it then means that the 4 museumneries sorry I meant refineries will be buying crude oil from America and Brazil abi? Nzulezu. So why do a stupid turn around maintenance for refineries you will never supply local crude to ? Are you seeing the game? NNPC is invisible, powerful, competent and the smartest organization. Until we end NNPC just forget refining crude in Nigeria. NNPC is stronger and powerful than the presidency, military, the media and parliament all put together. I have been saying this for decades. It’s the 4th major largest ethnic group in Nigeria.
This man is talking gibberish. He lacks indepth knowledge of his job description. So much repetition for a direct question that requires simple simplified answers. He is indeed a technocrat as promised.
My brother while majority of us are not comfortable with this man explanation but it doesn't sound civil and enlightened to refer to him by his tribe. I am sorry that shows that you might not be different from him in intelligence. Sorry if I sound a bit harsh it is because I detest people who descend so low to use ethnicity to define another man or woman.
