News

Reps to probe NNPC over N3trn LNG profit

Reps

House of Representatives

By Emman Ovuakporie

ABUJA—The House of Representatives is set to probe The Nigeria National Petroleum Corporation, NNPC, over $14.9 billion (about N3 trillion) profit from the Liquified Natural Gas, LNG paid to it since 2004 till date.

The said amount  represents  dividends realised  from the sales of liquefied gas from 2004 to 2014 and which the multinational liquefied gas company allegedly claimed  it has remitted to NNPC.

The arrowhead  of the House of Representatives Committee on Public Accounts, Solomon Adeola made the disclosure, saying the committee will move a motion of urgent national importance at plenary on Tuesday  to compel the NNPC to bring relevant documents.

NNPC has moved to stop the House from getting the documents as its lawyer, Mike Ozekhome & Co Chambers wrote the House Committee last Friday saying it has no right to request for the LNG accounts.