“Two Steps Forward, 10 Steps Backward” — Pat Utomi Demands Clarity On Alleged Forced Resignation Of NNPCL Chief

Prof. Pat Utomi, Convener of The Big Tent Shadow Team, has urged the Federal Government to promptly clarify reports about the alleged forced resignation of the Nigerian National Petroleum Company Limited (NNPCL) chief executive.
In a statement released on Saturday, Utomi warned that the government’s silence is creating uncertainty in the oil sector and “poisoning investor confidence,” potentially setting Nigeria back in comparison to other oil-producing countries.
He stressed that political interference in NNPCL and oil policy formulation would be detrimental, saying, “It would be two steps forward and 10 steps backward if political interference in NNPCL and in policy formulation is allowed to persist.” Utomi noted that despite the appointment of one of the most credible boards in a generation, the ongoing uncertainty sends negative signals to global investors.
Highlighting the consequences of self-interest among Nigerian officials, Utomi lamented that less endowed hydrocarbon countries such as Oman and Bahrain have become more attractive investment destinations, with Bahrain generating more local jobs from projects that could have been executed in Nigeria.
“Oil exports remain a lifeline for Nigeria’s revenues and that the government’s silence could erode the credibility the current NNPCL board has built internationally,” he said. Utomi called for “a clear, unambiguous statement from the government,” emphasizing that the NNPCL management is viewed globally as capable of boosting confidence in Nigeria’s oil and gas sector.
He further underscored the importance of prioritizing domestic oil and gas needs before exports and advocated for public sensitization on the various derivatives of processed oil and gas. Utomi also urged the creation of industrial clusters around Nigeria’s mineral and agricultural resources.
“The imperative of now is job creation and economic growth. Nigeria cannot afford to keep losing ground in the global oil and gas value chain,” he added.
The Big Tent Shadow Team’s Oil and Gas unit also called on the Federal Government to reverse “excessive over-regulation,” improve the ease of doing business, and consider adopting a self-regulation model involving certified engineers stamping project approvals. On fiscal policy, the group criticized the current import duty waiver process, noting that the costs and bureaucracy often outweigh the benefits for local operators.
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