Senate probes NNPC’s $1.05bn withdrawal from NLNG account

NNPC: Senate sets up committee to investigate $3.5bn subsidy fund

The Senate has set up a committee to investigate the alleged unauthorized withdrawal of $1.05 billion by the state oil company, Nigerian National Petroleum Corporation (NNPC) from the account of the Nigerian Liquefied Natural Gas company (NLNG).

Senator Bassey Akpan who is the chairman of the Senate Committee on Petroleum (Gas) had on Tuesday raised the issue on the floor of the Senate during plenary after citing Orders 43 and 95 of the Upper Chamber’s rule.

He brought the attention of the upper legislative chamber to various emails and complaints from the general public on the unauthorized withdrawal of $1.05 billion by NNPC.

Akpan said, “I ask that the Senate Committee on Gas immediately investigate this matter.”

Senate Leader, Ahmad Lawan, in his contribution, noted that an ad-hoc committee had earlier been set up to investigate the $3.5 billion NNPC subsidy use and that the matter should be committed to the same committee to investigate instead of handing over the matter to the Committee on Gas.

Lawan said, “An ad-hoc committee was set up to investigate the $3.5 billion NNPC subsidy use. The particular issue of $1.05 billion that Nigeria took from NLNG came up. I don’t think the Senate committee on Gas should investigate this; we are doing that.”

Senator Emmanuel Paulker submitted that “The ad- hoc committee that was set up should carry on with their work, while the Committee on Gas should also investigate the matter.”

‎President of the Senate, Dr Bukola Saraki, ruled that the Committee on Petroleum (Gas) should go ahead with the probe.