Need for Accountability in NCDMB Disbursements
The recent petition by a former member of the House of Representatives, Mr Israel Sunny-Goli, over the discovery of allegedly botched multi-million-dollar investments done by the Nigerian Content Development and Monitoring Board (NCDMB) calls for worry.
Though the former lawmaker has petitioned the Economic Financial Crimes Commission (EFCC) to probe the NCDMB investments, the anti-graft agency needs to take some steps further by ensuring a “thorough investigation and possible prosecution as it relates to the disbursements of funds for the Brass Fertilizer and Petrochemical Limited, the Atlantic International Refinery and Petrochemical Limited as well as the Brass Petroleum Product Terminal Limited.’’
Sunny-Goli, who represented Nembe-Brass Federal Constituency in the ninth National Assembly, highlighted the fact that all the projects are situated within the precinct of the Brass Local Government Area. He revealed that the investments were undertaken during the tenure of the immediate past board.
It should be noted that the NCDMB’s total equity of $200million was contributed for the Brass Fertilizer and Petrochemical Limited project which was conceived to establish two trains of 5,000MTPD methanol plants and one train of 500Mscf per day processing plant and associated infrastructure to be sited in Odiama on the Brass Island, Bayelsa State.
Also, for the Atlantic Refinery project, it was revealed that full investment of $35 million was made for the project which was expected to be a 2,000 bdp modular refinery with a jetty facility and a 2MW power plant and a duration of 24 months completion at the Brass Free Trade zone (FTZ).
According to the former lawmaker, the projects are well-meaning and could provide jobs for the teeming unemployed youths and also increase the revenue of government.
Those involved need to come out clean on the botched investment because it is worrying that such huge investments, which could be beneficial to Nigerians in so many ways, have not been fully accounted for.
So many tongues are wagging as to how the EFCC would swing into action and call those involved for questioning. This would signposts President Bola Tinubu’s renewed hope agenda as real.
Recall that the EFCC Chairman, Mr. Ola Olukoyede, has said that the anti-graft agency under his leadership will “continue to be broad-based, holistic and unsparing of anyone linked with any form of economic and financial crimes.”
Olukoyede vowed: “We will not spare anyone. We will not spare the mega thieves. As we are doing the mega, we will also do those at the lower end. In the last two months, we have arraigned two former governors.
“So, it is not true that we are only focused on internet fraudsters. Of course, internet fraud is bad enough, but our focus is on every form of economic and financial crimes.”
With this in mind, the EFCC boss must roll up his sleeves and not treat the petition with levity.
Also, earlier this year, President Tinubu vowed to fight corruption. Tinubu, who made the vow while speaking at the inauguration of the Red Line Rail Project in Lagos, had said: “We said we can do it, you believed in us. We said the people’s lives will end up being better, you believed in us. I could hear a lot of voices right now, I asked for this job, and I could not complain. It’s all about democracy.
“What is our problem? If it’s corruption, we must exterminate it. No matter how hard it’s fighting back, we must say no to corruption. We must adhere to our pledge of patriotism, perseverance, consistency, and staying focused.”
For his administration to stay focused and consistent, the EFCC must do the needful by ensuring that it carries out a thorough probe of the Brass Fertilizer and Petrochemical Limited project.
In his petition, the former lawmaker alleged that the current status of the project indicates that nothing tangible has been accomplished on this project, thus making its delivery uncertain and gloomy.
His petition reads: “I was a member of the Bayelsa State House of Assembly, following my election to represent Brass Constituency 1 between 2015 and 2019. In 2019, I contested and won an election to represent the good people of Brass/Nembe Federal Constituency of Bayelsa State in the 9th Assembly (2019–2023), particularly in the Federal House of Representatives.
“Given my years of active political and communal leadership, I am by all standards qualified to express concerns about the overall development of my people and to protect same.
“It is on this premise that I hereby wish to forward a petition to the commission for a thorough investigation and possible prosecution as it relates to the disbursement of funds for the Brass Fertilizer and Petrochemical Company Limited, the Atlantic International Refinery and Petrochemical Limited, as well as the Brass Petroleum Product Terminal Limited, all situated within the precinct of Brass Local Government Area of Bayelsa State, during the tenure of the immediate past board of the Nigerian Content Development and Monitoring Board (NCDMB).
Giving background on the Brass Fertilizer and Petrochemical Company Limited, he said: “The project was conceived to establish two trains of 5,000MTPD methanol Plants and one train of 500MMscf per day processing plant and associated infrastructure to be sited in Odiama, Brass Island, Bayelsa State. The total NCDMB equity contribution for this project is $200m. With an initial payment of $20million made in May, 2021, and an annual payment of $60m over the period of three years.”
The $20 million made in May 2021, and an annual payment of $60million are not funds that can be easily swept under the carpet. There should be accountability. According to the former lawmaker,
“Available information indicates that nothing tangible has been accomplished on this project, thus making its delivery uncertain and gloomy.”
On the Atlantic International Refinery and Petrochemical Limited, he disclosed that “this project was conceived for the establishment of a 2,000bpd Modular Refinery, a jetty facility, and a 2MW power plant in the Brass Free Trade Zone (FTZ), Bayelsa State.
“Its target completion period was 24 months from the date of financial closure. A full investment amount of $35m was released in one bullet in October 2020. The project has stalled and has little or nothing to show for the disbursement made. Delivery timeline is also uncertain.
“The investment on the Brass Petroleum Product Terminal Limited was for the establishment of a 50 million-litre facility with a two-way product jetty, automated storage tanks, and loading bay in Brass, Baylesa State. The project was initially conceived to have the NNPC Limited and the NCDMB as shareholders with the private company but was curiously financed by the Simbi-led NCDMB alone.
“The project for which funds were disbursed in September 2021 has not progressed as expected, and its completion remains not only uncertain but funding by the other shareholders is also not assured. As can be deduced from the information supplied above, these are well-meaning projects aimed at creating jobs for our teeming unemployed youths, as well as increase the nation’s revenue.
“To ensure our great nation is not short-changed, and our teeming unemployed youths denied gainful employment opportunities in line with the Renewed Hoped agenda of President Bola Tinubu, I hereby request that your commission immediately institute a thorough investigation into the projects listed above, and prosecute without delay, anyone found culpable in the event of any misappropriation of funds. Please find attached pictorial evidence and other documents in support of my claims.”
Some Nigerians are of the view that “it’s time for transparency and answers. The people of Bayelsa State and Nigeria as a whole deserve to know how their funds are being utilised. I hope this investigation is carried out with all seriousness and vigorously.”
Sunny-Goli has given the EFCC a good lead in his petition. It is left for the anti-graft agency’s boss to swing into action.