Omokore and his companies are standing trial along with Membere, Victor Briggs, former managing director of Nigerian Petroleum Development Company, NPDC; and David Mbanefo, manager, Planning and Commercial of the NNPC. They were re-arraigned on November 21, 2016 on a nine-count amended charge,of criminal diversion of about $1.6 billion alleged to be proceeds of petroleum products belonging to the federal government.
The representative of one of the major investors in OPL 2001, stated that many Niger Delta indigenes were pained by the action of the president in revoking the licences of citizens from the oil-rich region without carrying out thorough consultations.
NEITI has criticized the decision to transfer the country’s oil asset to NPDC as not founded on sound economic judgment. The agency noted that although the company was established to foster indigenous participation in the upstream sector of the industry, it has so far not been able to produce substantial levels on its own.
“The process for the transfer of Federation’s assets to NPDC does not seem to pass the transparency test. One of the upshots of this is the undervaluation of these assets, thereby depriving the Federation of optimal value for the assets,” NEITI stated.
“Considering the difficulties the government has been facing securing as little as $1billion foreign loan, recovering these funds will significantly enhance government’s fiscal position in the short term,” Mr. Adio said.
On sector reform activities, NESI said Delta power station lost functionality from four turbines due to combination of mechanical difficulties and maintenance work at Nigeria Petroleum Development Company (NPDC) gas well.
He attributed the drop in generation to the attack launched against pipeline facilities belonging to the Nigerian Petroleum Development Company (NPDC) on Jan. 17 around Ughelli in Delta State.
Baru urged all Nigerians to do everything possible to help protect the national assets, adding that governments at various levels were doing much to fight criminality and that success can only be achieved when all stakeholders imbibe the consciousness that security was a task for everyone.
He said, “To us, this is an issue of concern and we want the house and indeed the National Assembly to look into it. Companies operating in states should be made to contribute and add value to their host states, while federal agencies should be encouraged to do more for the states.”
27 November 2015, Asaba – Leaders of oil producing and pipeline communities in OML30, have described the present shutdown of Nigerian…
