NNPCL: Experts Fault Judgement Restating Ararume As Non-Executive Chairman

The controversial Federal High Court judgment that sacked Senator Margery Chuba Okadigbo and reinstated Senator Ifeanyi Ararume as non-Executive Chairman of the Nigeria National Petroleum Company Limited, NNPCL, has been faulted by experts.

Recall that the judicial pronouncement was greeted with widespread criticisms.

President Muhammadu Buhari, in his reaction to the judiciary pronouncement, called on all parties to remain calm.

Buhari asked that due judicial process be followed on the issue.

But, a cross-section of oil and gas experts who spoke with Journalists recently condemned the court verdict.

Dr Ayomide Omotosho, an oil and gas analyst, stated that it is an indisputable fact that under the 1999 Constitution, the President has the executive power to nominate, appoint, and potentially remove or cancel such nominations without recourse to the appointee for the ease of doing business and smooth operation of such a public liability company as NNPC Ltd.

He questioned the basis on which Ararume filed a lawsuit to contest the President’s decision and asked that he should be reinstated and all his entitlements restored.

He added that the Federal High Court’s judgment was not good for the nation’s nascent, fledging, liberalized oil industry.

“That is part of the powers of the Executive President under the Constitution, and this does not warrant anyone whose nomination is cancelled to go to Court over this.

“How will international investors and partners perceive it now that NNPCL has gone fully commercial and needs a lot of foreign and local investments,” he said.

He questioned the basis on which Ararume filed a lawsuit to contest the President’s decision and asked that he should be reinstated and all his entitlements restored.

Mr Abu Abdullahi, a media analyst, condemned Ararume’s action and the Court’s ruling, saying they were in poor taste, self-serving, and not in the country’s interests as a whole.

“It is in bad taste and a wrong move at that. It should be condemned in totality. Equally, the judgment should be denounced by lovers of this country and our `fragile’ oil industry.

A retired manager in one of the oil companies spoke anonymously and asked the Federal Government to challenge the ruling.

He recalled that Ararume was nominated as a non-Executive Chairman but still needs to be inaugurated.

“The President may have good reasons for withdrawing his nomination. I think Ararume’s matter or journey ended at the nomination stage; it’s not a nomination that was screened and confirmed by the Nigerian Senate,” he said.

Meanwhile, NNPLC had filed an appeal on the court judgement.