A Review of the Nigerian Energy Industry

Senate summons Okonjo-Iweala, NNPC boss, others

Henry Umoru

28 June 2012, Sweetcrude, Abuja – FOR the second time, the Nigerian Senate is summoning Mrs. Ngozi Okonjo-Iweala, Coordinating Minister of the Economy and Finance Minister; and the Group Managing Director of Nigerian National Petroleum Corporation, NNPC, to appear before it.

The invitations were made via a memo on Tuesday signed by Senator Magnus Abe, leader of the Joint Committees on Petroleum Resources (Downstream), Appropriation and Finance. The committee also invited Mr. Reginald Stanley, Executive Secretary of Petroleum Products Pricing and Regulatory Agency, PPPRA; Managing Director of Pipelines and Products Marketing Company, PPMC, and at least three former PPPRA Executive Secretaries— Dr. Olusola Oluleye, Mr. Abiodun Inikunle and Engr. Goddy Egbuji.

To also appear before the committee on July 2 and 3, as part of the ongoing probe into management of fuel subsidy regime, are the Chief Executive Officers of Capital Oil and Gas Limited, Mr. Ifeanyi Ubah; Oando Nigeria Plc, Mr. Wale Tinubu and Folawiyo Energy. Included on the list of invitees are Depot and Petroleum Marketers Association, DAPPMA.

However, Senate is presently on a week-long retreat in Uyo, Akwa Ibom State.

According to a member of the panel, next week’s appearance of, and interactions with, government officials and private sector operators would be the last public meeting after which the committee is expected to collate and submit its report to the Senate.

It would be recalled that the committee had earlier postponed a scheduled meeting of stakeholders in the oil sector due to the Dana air crash in Iju-Ishaga, Lagos on June 3.

The Senate probe emanated from a resolution in November last year based on a motion by Senator Bukola Saraki, who had raised an alarm on government’s extra-budgetary spending on fuel subsidy in 2011.

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