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We’re owing IOCs $7bn —NAPIMS

As confusion trails agency’s alleged $260m contract scam

By Emman Ovuakporie & Johnbosco Agbakwuru

ABUJA—GROUP General Manager of National Petroleum Investment Management Services, NAPIMS, Dafe Fejebor, yesterday said his agency had in the last five years, owed International Oil Companies, IOCs, $7 billion.

Fejebor made this revelation in his presentation at an investigative hearing on alleged $260 million “illegal” contract by National Petroleum Investment Management Services NAPIMS, organised by joint   House committees on Procurement and Petroleum Resources (Upstream).

He said: “In the last five years, things really started going bad and we are really trying our very best to get them resolved off line.

“In short, we are at a cross road because when we approached the IOCs, they simply told us to operate a base case budget before they can continue with us.

“From my understanding of business, a case base budget is doing business without growth and we have to resort to cut cost on services to survive but some guys providing us services totally refused”.

Fejebor had to do this narration when the chairman of the committee on petroleum, Victor Nwokolo, asked why he could not patronise Temile and Sons, a wholly Nigerian-owned company.

Earlier, during the hearing controversy had trailed the exact amount  involved in the alleged $260 million “illegal” contract by National Petroleum Investment Management Services NAPIMS.

The bone of contention presented before the joint committee took a new dimension   when Tilone Subsea, through its Managing Director, Mr. Stanford Tassie, alleged that the logistic contract duly approved and given to his firm was unlawfully terminated by NAPIMS and given to GMT against the provision of the Public Procurement Act as well as the Nigerian Local Content Act.

“GMT Energy Resources was illegally awarded the same contract which negates the provision of the 2007 Public Procurement Act,’’ he said.

He told the committee that his company was originally given the contract for a duration of five years which was extended by three more years and approved by the then President Jonathan in 2010.

He pointed out that even the NNPC in its advertorial in Guardian Newspaper of January 15, 2016, admitted the fact that the contract awarded to GMT Ltd was illegal and lacked due process approval.

He alleged that in the advertorial, the NNPC clearly stated that GMT vessel was used to replace Tilone vessel which originally handled logistics for ESSO during the drilling process.


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