Nigeria May Be Losing N91 Trillion Short-changes In Oil Lifting Transactions

By LINDA IKE, Abuja

The House of Representatives committee on petroleum downstream on Wednesday commenced investigations over an alleged short change of Nigeria to the tune of N91 trillion in oil transactions.

It has  summoned the Managing Directors of Mahart Petroleum, Alkhairi Oil among others for allegedly short-changing Nigeria to the tune of N91 trillion.

A petition before the House of Representative had indicated that a 30 year  contract involving the export of 80 trillion metric tones of low pour fuel oil was  awarded in 2016 to Marhart petroleum which represents Chinese firm in the name of Alkhairi

The Chairman of the Committee, Hon. Joseph Akinlaja who issued the summons at the committee investigative hearing said the committee has the names of Boi petroleum company – off taker of a Chinese company which was alleged to operate through their agents in Nigeria.

He said “the NNPC has  Mahart Petroluen and Alkeri oil acting on behalf of NNPC and we are told that Nigeria is shortchanged to the tune of N91 trillion

That NNPC has agents dealing  with this instigation; 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 short-changed to the tune of N91 trillion.

“Hon. Akinlaja said: “All these allegations  cannot be proven if all the stakeholders are complete in 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 Alkeri oil, we have not heard from Mahart petroleum, so we using this medium to inform Nigerians that the Managing Director of Mahart Oil and Alkeri 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 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.

Bola Aidi,  the representative of law firms Onoja, Muiz Banire who are the tripartite legal consortium asked the House to investigate the missing fund in the accounts of NNPC.

“We are the one 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 on behalf of 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 1145 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 has shown to us agreement written that NNPC through Alkedi will deliver 80trn 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 Alkedi Oil”, Aidi said.