Reps Probe $22bn Gas Project Initiated Under Obasanjo
The House of Representatives is set to probe alleged mismanagement of $22 billion meant for the implementation of the Brass Liquefied Natural Gas (LNG) project initiated in 2003 under the administration of former President Olusegun Obasanjo.
This comes after one of its members, Hon. Kingsley Chinda, moved a motion for the House to look into the alleged mismanagement of funds when the gas project was started by the Nigerian National Petroleum Corporation (NNPC).
Chinda said in his motion, “The project has been stuck in the planning stages for more than a decade, with some western partners having pulled out because of tough operating conditions and an unfavourable investment environment.
“What should be noted is the fact that the federal government’s investment in the Brass LNG project is too enormous to be treated with kid gloves, swept under the carpet or simply put aside with a wave of the hand.
“If not urgently investigated, the essence of the fight against corruption would be defeated and the Nigerian economy and indeed teeming Nigerian masses would be worse for it,” he said.
The House had since constituted an ad-hoc committee to probe the implementation of the project.
The Bras LNG Project was to be jointly owned by NNPC, Choco Philips, Eni Oil and Chevron, according to reports.