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Reps probe $22bn LNG project over funds mismanagement

Representatives

The House of Representatives on Thursday, resolved to set up an ad-hoc committee to probe the implementation of the $22billion Liquefied Natural Gas (LNG) project over allegations of funds mismanagement.

The special panel is expected to Investigate the expenditure and implementation of the $22bn gas project located in Brass, Bayelsa state and report back within six weeks for further legislative input.

This resolution is sequel to a motion sponsored by Rep. Kingsley Ogundu Chinda, representing Obio Akpor Federal Constituency of Rivers state.

Leading debate on the motion, Rep. Chinda said that there have been several allegations of abuse and mismanagement of funds totalling about $22bn meant for the take off and running of the Brass project.

“The Brass LNG project was originally set up in 2003 with the Nigerian National Petroleum Corporation (NNPC) owning 49 per cent and other affiliates namely, Conoco Phillips, ENI and Chevron holding 17 per cent.

“The project has been stuck in the planning stages for more than a decade with some Western partners having pulled out because of tough operating conditions and an unfavourable Investment environment”, Chinda said.

He added that provisions of Section 88(1)(a), (b)(I) and (Ii) and (2)b of the constitution confers each House of the National Assembly powers to conduct or carry out investigations into matters such as this.

Attempts by Rep. Emma Egoh (PDP/Lagos) to ensure that the House Committee on Gas Resources carries out the probe was unanimously rejected by members.

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Ihesiulo Grace

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