Senate To Fast-track Malabu Oil Deal Probe, PIB


Debates Kerosene Subsidy Scam Thursday BEVERLY HILLS, February 19, (THEWILL) - The Senate on Wednesday directed its Committees on Finance and Petroleum Upstream to fast-track action on the $1.

092 billion Malabu oil deal and work on the Petroleum Industry Bill(PIB).

The Senate will also commence debate on the Kerosene subsidy claims by the Nigerian National Corporation ( NNPC) on Thursday.

The Senate had  ordered its standing committees  to investigate the alleged sale of an oil block, OPL 245 to Malabu Oil and Gas Limited at $1.

092billion (about N178.
812billion) by the Federal Government.
The House of Representatives had on Tuesday adopted the report on the Malabu oil deal.

Senator Olubunmi Adetumbi ( Ekiti APC) through a point of order called for the expedition of action in the Malabu Oil Deal Investigations and the Petroleum Industry Bill, which has been in the works for some months.

Adetunmbi told Senators  that  the Italian and Netherlands governments and the EU parliaments are about concluding public investigations that would be made public very soon.

He said,"The issue of Malabu Oil was also raised at that gathering.

Upon coming back, I had to check my proceedings and l found that PIB after debate was committed to the appropriate committee in this chamber on March 7, 2013.

It will be exactly one year next month.
Up till now, there seems to be nothing going on.
The Malabu Oil was committed to a committee in this Senate in July.

"It will interest this Senate that an international extractive advocacy group in Europe did a letter dated July 5, 2013 to Italian and Netherlands governments requesting for public investigation of the roles of companies from their countries and to the European Union (EU).

" He also added that:"As l speak, the Italian and Netherlands Governments and the EU parliaments are about concluding public investigations that would be made public very soon.

I feel as a senator, we should know what is going on so that the reputation of this parliament as an institution is not called to question.

"I feel a situation where the report of EU parliament on issues that affect out economy is made public and our own apex parliament seem not  to be doing what it should do one year after, it will affect all of us collectively.

" According to him, "That is why as a senator l need to receive explanation from this Senate so that if l find myself in the public, l should be able to speak intelligently so that l will not be embarrassed.

" Based on that  ,Senate President, Senator David Mark, called on the committees to expedite action on the two issues raised by Senator Adetunmbi.

The Senate will also on Thursday debate the payment  of kerosene subsidy claims by the NNPC.

The House of Representatives probe into the payment on Tuesday showed that despite the inability of  many Nigerians to buy kerosene at the official price of N50 per litre, it was disclosed  that the country had spent a whopping N1 trillion over the past four years to subsidise the domestic product.