Oil deals: Sahara, Aitero others listed in Reps probe

The House of Representatives has resolved to take another look at the swap contracts awarded by the Nigerian National Petroleum Corporation to various trading companies, which involved the exchange of crude oil for refined petroleum products with the NNPC giving out 445,000 barrels of crude per day.

This is coming on the heel of several probes by the 7th session of the same House, for which many Nigerians complain were never pursued to their logical conclusions.

This led many watchers to conclude that such probes, which is supposed to be part of the oversight functions of the lawmakers, has been turned into an avenue to receive favours from the agencies involved.

A House resolution passed on Wednesday indicated that nine companies benefited from the contracts through the Pipelines Product Marketing Company, a subsidiary of the NNPC.

On the list of the beneficiaries were Duke Oil, Mercuria, Sahara Group, Aitero, Glencore, Taleveras Nigeria Limited, Entena Oil and Gas, Tranfigura and Ontario Oil and Gas.

A member from Akwa Ibom State, Mr. Michael Enyong, who moved a motion on the contracts, told the House that the investigation was to ensure that “revenue from the nation’s extractive industries are transparently managed in accordance with global best practices to enhance Nigeria’s revenue and economic fortunes.”

Quoting the 2009-2011/2012 reports of the Nigerian Extractive Industries Transparency Initiative, Enyong said the loss of $8bn revenue was recorded due to “discrepancy between the value of the crude oil given out and the refined products delivered.”

However, there were attempts to stall the motion as some members kicked against it while others queried its relevance.

A member from Delta State, Mr. Leo Ogor, opposed the motion on the grounds that it was not listed on the Notice Paper for the week.

But, he was countered by a member from Lagos State, Mr. Femi Gbajabiamila, who advised the House to suspend the rule requiring the listing of the motion so that it could be heard.

The Speaker, Mr. Yakubu Dogara, ruled in favour of Gbajabiamila and admitted the motion for hearing.

But, another member, Mr. Obinna Chidoka, raised an order reminding the House that the same matter had been investigated several times and reports produced and that all that was required was to refer to the existing reports.

Others observed that President Muhammadu Buhari was already in the process of probing the same contracts; hence the one contemplated by the House was not necessary.

However, Dogara ruled that the motion should be heard since it was for investigation. The motion was later passed in a majority voice vote.

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