Disinformation in this digital age has assumed a frightening dimension; this troubling trend in today’s evolving society is further deepened with the availability of sophisticated forms of information and communication technology which has found expression namely in the sharing of text messages, videos and links online. The deployment of these media tools allows information to go viral within hours. The trending video of questionable origin which purports that Premium Motor Spirit (PMS) produced by NNPC burns faster than others bests illustrates the destructive impact of disinformation if unchecked. For good reason, the country’s oil behemoth reacted with vehemence, to what is unraveling as a contrived vile propaganda aimed at casting doubts on the integrity of its product.

 In a press release, Olufemi Soneye, Chief Communications Officer of the company described the viral video as entirely unfounded, originating from unverified amateur research that lacks credibility, accuracy and professional oversight.

The statement said, “This misleading video represents yet another desperate attempt by economic saboteurs to misinform the public and tarnish NNPCL’s reputation. We will not tolerate deliberate misinformation designed to undermine our operations and mislead Nigerians.

“Henceforth, NNPC Ltd. will take firm legal action against individuals or groups who intentionally spread falsehoods about our brand and operations. Those engaged in such malicious activities will be held fully accountable under the law.” Further push back to this obviously manufactured lie came from an independent organisation, Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN). In dismissing the claim suggesting that NNPCL’s fuel is inferior to Dangote’s, the association warned against the dangers of misinformation. A statement from petroleum marketers under the aegis of PETROAN and signed by its spokesman said that the association had conducted independent tests on NNPCL’s Premium Motor Spirit (PMS) and found out it met all regulatory and industry standards.

According to PETROAN, “The results of these tests are satisfactory, demonstrating that NNPCL’s petroleum products meet and exceed the required industry standards..”

“Specifically, Flashpoint test exceeds minimum requirement, indicating low risk of ignition. “Density test:” meets prescribed density standards, ensuring optimal engine performance and fuel efficiency.

“Viscosity test falls within acceptable range, ensuring smooth engine operation and minimizing wear and tear. Sulfur content test meets regulatory limits, reducing risk of engine corrosion and environmental pollution.

“Water content test”: Well below allowable limit, ensuring fuel stability and preventing engine problem. Ash content test meets regulatory limits, reducing risk of engine wear and tear. We are confident in the quality of petroleum products supplied by NNPCL, which adheres to strict industry standards. Amidst the validation of the highest standards which NNPCL has been associated with for decades, Mele Kyari, the Group Chief Executive Officer of the company lampooned and described the viral video as an unfortunate drama and bad marketing practices. While a segment of the public may have been duped by this well-orchestrated vile campaign without any foundation on science and empirical evidence, the incalculable damage this ignoble action is capable of unleashing on the Nigerian economy and the prospects of energy security is not frightening. This ill-conceived take down campaign is aimed to not only smear the reputation of NNPCL but is driven by the mindless attempts by economic saboteurs and implacable enemies of the Tinubu administration to imperil the economy. Since its founding in 1977, NNPC has been the mainstay of the Nigerian economy; by far Nigeria’s wealthiest and most profitable company, it has been pivotal to the growth in the country’s Gross Domestic Product (GDP).

Growth in the oil sector has a huge implication for the Nigerian GDP because the economy is an oil driven economy.  As a result of concerted efforts of the current management of the company under the leadership of Mele Kyari, the oil sector has witnessed a steady growth in recent times. In the second quarter of 2024, National Bureau of Statistics (NBS) reported that real growth in the oil sector was 10.15 per cent. This performance indicated an increase of 23.58 per cent points relative to the rate recording in the corresponding quarter of 2023. In tangible terms, the performance drove the oil sector to contribute 5.70 per cent to the total real GDP in the second quarter of 2024, a rise from the figure of 5.34 per cent of GDP recorded in the corresponding period of 2023. 

For decades, NNPC has acted as guarantor of the country’s energy security. This critical role came into sharper focus when the company transformed into a fully independent, commercial and profit oriented energy company. Unveiling the new company in 2022, Former President had charged the company to operate as, “a commercial, independent and viable NOC at par with its peers around the world, to sustainably deliver value to its over 200 million shareholders and the global energy community, while adhering to its fundamental corporate values of Integrity, Excellence and Sustainability.”

The former President also stated that, “NNPC Limited is mandated by law to ensure Nigeria’s National Energy Security is guaranteed to support sustainable growth across other sectors of the economy as it delivers energy to the world.”

Under the leadership of the current management, the commitment of the company to resolving the country’s energy trilemma by ensuring energy security, sustainable growth and energy affordability is total. Mele Kyari’s resolve, implementation of bold ideas, embrace of shared knowledge and collective determination, NNPCL is delivering expansion of gas infrastructure, the development of cleaner energy options such as Liquefied Natural Gas (LNG) and Compressed Natural Gas (CNG).

Clearly, under the leadership of Mele Kyari, NNPC is witnessing unprecedented transformation. The unconscionable campaign to destroy the reputation of the company through the peddling of lies represented by the viral video is a new low in the concerted effort by economic saboteurs to bring the country to its knees. The sad reality of the present age is that it is possible to destroy an economy and a society through the spread of fake news with the use of digital media. Thomas Jefferson came to this conclusion two centuries ago when he stated that, “truth itself become suspect when filtered through the lens of fabricated news. The 2024 World Economic Forum ranks fake news as the most severe global short-term risk; its gradual absorption by the public amidst the heightened confusion and uncertainty it spews leads to depression of macro-economic outcomes.

It is in the national interest for all Nigerians to revolt against the ongoing attempt to de-market NNPC precisely because it threatens its core mandate and unique role as guarantor of Nigeria’s energy security. Energy is an essential element for economic stability, the backbone of nations and a power source of economies; no effort should be spared in protecting it from hawks and predators. The current management of NNPC has demonstrated its resolve not to succumb to this cheap blackmail; in the face of this campaign of calumny, its recourse to legal redress even as it exposes the tissues of lies contained in the controversial viral video is commendable and should be supported by all Nigerians. 

The stakes could not be any higher especially at this critical period of profound national challenges. Apart from being the mainstay of the country’s economy, the Petroleum Industry Act (PIA) placed on NNPC the role of the supplier of last resort; what this means is that at any point in time when there is disruption in the supply chain of petroleum products, it falls on NNPC to ensure availability of products until such a time normalcy is restored.

Over the years, the company has played this role admirably to stabilise the country’s economy. The ongoing campaign if unchecked will imperil this role and inexorably plunge Nigerian economy into recession.

Odiogor, an analyst and commentator on national affairs, contributed this piece from Surulere, Lagos.