Nigeria may lose N91trn to shady oil contract, as Reps summon NNPC, others

The House of Representative Committee on Petroleum Downstream chaired Joseph Akinlaja on Wednesday commenced investigation into petitions on shady oil exploration contract worth N91 trillion.

The House had on the 6th June, 2018 mandated the Committee to investigate the activities of NNPC as stipulated in the motion.

According to the petitioners, the 30 year contract involving the export of 80 trillion metric tons of Low Pour Fuel Oil was awarded in 2016 to Mahart Petroleum which represents Chinese firm in partnership with Alkhairi Oil which represents Nigerian National Petroleum Corporation (NNPC).

Bola Aidi, who led a consortium of law firms to the public hearing, urged the House to investigate all the funds accrued into NNPC accounts over the past two years, with the view to ensure accountability, transparency and recover the funds.

“We are the ones that brought the petition asking this august House to investigate what is likely to be the missing fund in the accounts of the NNPC. Our prayer is that this committee will investigate the matter adequately.

“Wangboai which also involve our company as a facilitator has been lifting oil since January 2016 and the NNPC is saying they are not aware of the transaction. So we are asking the House to investigate this, so that we can know that some people have constituted themselves to sell oil on behalf of Nigeria.

“It is something that involves monumental sum of the money. It is supposed to last for 30 year. They have commenced lifting and they are still lifting. The deal involves 80 trillion metric tones’ of low each liter of metric contains 1.145 trillion, now we are talking of 42, 43 per litre, you now times 42 into 80 times 1145 places, that is what is likely to be missing in the account of Nigeria.

“We deal with evidence, because our clients have shown to us agreement written that NNPC through Alkhairi will deliver 80 trillion to Wangboi through Mahart Oil.

“That agreement we have in our possession and we have delivered to the committee and the agreement was lodged with banks, showing that the transaction is ongoing.

“NNPC did not say there was a transaction that failed, they said there was nothing like that when we have document mandating and showing that they can give this oil through Alkhairi Oil,” Aidi said

Worried by the non-appearance of NNPC and other regulatory agencies, Joseph Akinlaja, chairman, House Committee on Petroleum Resources (Downstream) summoned Managing Directors of Mahart Petroleum, Alkhairi Oil to appear before it.

Akinlaja further observed that the lead committee equally has the names of Boi Petroleum Company – off taker of a Chinese company which was alleged to operate through their agents in Nigeria.

According to him, “the NNPC has Mahart Petroleum and Alkhairi oil acting on behalf of NNPC and we are told that Nigeria is shortchanged to the tune of N91 trillion.

“That NNPC has agents that deal with this investigation, Mahart Petroleum and Alkeri Oil, both working on behalf of NNPC but we all know that NNPC is the supervisory agency of oil business in Nigeria, they alleged that Nigeria is shortchanged to the tune of 91 trillion.

“But all these allegations cannot be proven if all the whole stakeholders are not complete before this panel. Therefore, we have gotten letter from NNPC asking for another date to appear.

“We have also got representation from Duke Oil asking for another date because we invited them too.

“We have not heard from Alkhairi oil, we have not heard from Mahart Petroleum, so we using this medium to inform Nigerians that the Managing Director of Mahart Oil and Alkhairi oil should appear before this committee here on date that will be communicated to them, and failure to do so, we will use our constitutional right to compel their appearance because Nigeria needs every kobo for the economic development of this country.

“And for the National Assembly and the House of Representatives have passed a resolution to investigate the allegation, I do not think it behooves on anybody to refuse to appear before the committee if they have a good case. Therefore, the A and M to appear at the next hearing which will be communicated to them

“For Duke Oil that has made representation and the Managing Director of NNPC that had contacted us, we will contact them for another date that they should also appear, so that Nigerians will know the truth because when we here heard the figure too we were baffled that the amount that is more than enough for more than 12 year budget of Nigeria is being taunted, but whatever it is an allegation is an allegation,” Akinlaja said.

KEHINDE AKINTOLA, Abuja