NEPC denies Reps summon over $1.67b oil revenue

The Nigeria Export Promotion Council (NEPC) management has denied being summoned by the House of Representatives panel to come and explain the status of $ 1.67 billion crude oil revenue.

A statement from the NEPC described as false online reports that its managing director had been summoned to appear before the House of Representatives.

According to the statement, “the Management of NEPC wishes to state that the said online publications which were published on June 5, 2023, by two online media are false and capable of misleading the public and stakeholders in the non-oil export sector and thereby bringing the Council into disrepute.

NEPC’s Head, of Corporate Communications, Ndubueze Okeke, stated that the Council’s statutory mandate is to develop and promote the diversification of the economy through the export of non-oil products and services.

“The NEPC, in pursuant of its mandate is not and has never been charged with regulating or coordinating the export of crude oil or otherwise since it was established in 1976.

“Indeed the NEPC’s objectives and functions as encapsulated in the Nigerian Export Promotion Council Act, Cap N108, Laws of the Federation 2004, is to specifically promote non-oil export as against promoting crude oil export.

The Council he said was “established to discourage reliance on only crude oil as a means of revamping the Nigerian economy. It is therefore ironic that your publication is now foisting a role on the NEPC that is quite at variance to its fundamental objectives”.

Furthermore, the Chief Executive Officer of the NEPC who is charged with the day-to-day running of the Office is designated as “Executive Director” (ED) and not “Managing Director” (MD) as erroneously stated in the online publication.

He added that a cursory glance at the NEPC enabling Act/website or a call to the Council to verify this story was in line with standard journalism practice would have curtailed this embarrassing story.

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