A Review of the Nigerian Energy Industry

NNPC probe: Ashafa commends Buhari, says move driven by legislative action

01 July 2015, Abuja – Senator Gbenga Ashafa, representing Lagos East, Senatorial District, has commended President Muhammadu Buhari over the probe and dissolution of Nigerian National Petroleum Corporation (NNPC), board stressing that the move is a fallout from legislative action.

NNPC-logo-335x270Ashafa who made the remarks while responding to questions on the foreseeable results expected from a motion he made on Fuel Tanker Tragedies on Nigeria’s Highways at a plenary session on the 25th of June, explained that the move by the presidency on NNPC is a fallout of the legislative actions surrounding his motion.

The lawmaker said the Buhari led government is willing to reverse the negative economic impact caused by the unregulated management activities of the NNPC.

“The dissolution of the NNPC board, the current probe, amongst other things to follow, is a direct fall-out from the plenary proceedings.The prayers sought by the motion have been granted and it further underscores the need for legislators to face up to the task of keeping the executive arm of government and its various agencies in check.” he stressed.

” On June 29, the National Economic Council chaired by Vice President Yemi Osinbajo set up a four-man committee to probe and unravel the sum of N3.8trillion not remitted to the Federation Account by the NNPC between 2012 and May 2015 as well as $2.1bn purported to have been deducted from the Excess Crude Account without approval.

The gradual cleansing of the nation’s economic rot is as a result of Buhari’s vision and the steady nature of change which is aimed at placing Nigeria’s economy, which is currently dependent on crude oil, back on its once-enviable pedestal in Africa.” He ended.

– Vanguard

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