House of Reps panel probes NNPC Joint Venture contracts with IOCs

Summons AGFMalami, Kyari

The House of Representatives has unveiled plans to investigate the structure and accountability of the Joint Venture (JV) businesses between Nigeria and International Oil Companies (IOCs) between 1990 to date.

To this end, the House resolved to set up an ad-hoc Committee to investigate all Joint Venture (JV) operations and Production Sharing Contracts (PSCs) in the Oil and Gas sector since 1990, with a view to ascertaining whether or not the capital expenditure, operations, financials and related frameworks are within the ambit of law and Production Sharing Contracts of the Nigerian National Petroleum Company (NNPC) Limited from 1990 till date.

The resolution was passed sequel to the adoption of a motion jointly sponsored by Hon. Sergius Ose Ogun, Hon Benjamin Kalu, Hon Sada Soli Jibiya, Hon Ado Sani Kiri, Hon Isiaka Ibrahim and Hon Mark Gbillah.

In his lead debate, Hon Jibiya observed that section 88 (1 & 2) of the 1999 Constitution empowered the National Assembly to conduct investigations into the activities of any authority executing or administering laws made by the National Assembly.

The ad-hoc Committee is to report back to the House within eight weeks for further legislative action.

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