By Admin
The Permanent Secretary, Ministry of Petroleum Resources, Amb. Nicholas Ella, has emphasized the importance of embracing a culture of zero tolerance for corruption within the Ministry.
He made the call at a sensitization workshop organized by the Anti-Corruption and Transparency Unit (ACTU) with the theme “Curbing corruption at workplace”.
Ella noted that the Petroleum Industry is the backbone of Nigeria’s economy, contributing approximately 85% of government revenue and 95% of foreign exchange earnings.
He however acknowledged that the industry has historically been prone to financial malpractices, contract secrecy, revenue leakages, and operational inefficiencies.
According to him, the Nigeria Extractive Industries Transparency Initiative (NEITI) Oil and Gas Industry 2021 Report stated that Nigeria lost approximately $46 billion in oil revenue in between 2009 and 2020 due to operational inefficiencies, lack of transparency in contract and illicit financial flows.
“This staggering figure underscores the need for urgent action to address corruption in the industry”
The Permanent Secretary expressed optimism that the inauguration of the Anti-Corruption Unit marks a significant step towards institutionalizing ethical practices, improving governance structures, and ensuring regulatory compliance within the Ministry and its affiliated Agencies.
In his remarks, the Director of Special Duties in the Ministry, Mr. Salami Adebola, who emphasized that corruption can have catastrophic consequences on the nation’s economy charged participants at the workshop to demonstrate strong commitment to integrity and transparency, holding themselves accountable for their actions.
