House Probes $22bn Brass LNG Project
The House of Representatives yesterday passed a motion to set up an ad-hoc committee to investigate the expenditure and implementation of the $22 billion Nigerian National Petroleum Corporation’s (NNPC) Brass Liquefied Natural Gas (LNG) project and report back within six weeks for further legislative action.
It expressed grave concern over the state of affairs surrounding the gas project following several allegations of abuse and mismanagement of funds totaling about $22 billion meant for take off and running of the Brass LNG project.
The resolution followed a motion moved by Hon. Kingsley Chinda (PDP, Rivers) on the urgent need to investigate the matter.
According to the lawmaker, the Brass LNG project was originally set up in 2003 with NNPC owning 49 percent and other affiliates namely, Conoco Phillips, ENI and Chevron holding 17 per cent each.
However, he said the project had 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 unfavorable investment environment.
Chinda, further drew attention to the provisions of Section 88(l) (a), (b)(i)&(ii) and (2)(b) of the 1999 constitution (as amended) which confers each House of the National Assembly power to conduct or carry out investigations into matter(s) of similar nature.
He further recalled Recalls that the Senate in January 2018, raised an alarm over massive fraud in the NNPC as it relates to the Brass LNG project and voted to investigate same, but nothing happened thereafter.
He argued that the federal government’s investment in the project was too enormous to be treated with kid gloves, swept under the carpet or simply put aside with a wave of the hand.
He said unless the issue was urgently investigated, the essence of the fight against corruption would be defeated and the Nigerian economy, particularly the teeming Nigerian masses would be worse for it.