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Reps Probe NNPC’s Multi Billion-Dollar JV Deals
The House of Representatives has resolved to set up an ad-hoc committee to investigate all Joint Venture (JV) operations and Production Sharing Contracts (PSC) in the petroleum sector since 1990.
The panel is to ascertain “whether or not the capital expenditure, operations, financials and related frameworks are within the ambit of law.”
The committee is to report back to the House within eight weeks for further legislative action.
This is based on the motion moved by some members of the House, Messrs Sergius Ogun, Benjamin Kalu, Sada Soli, Ado Kiri, Isiaka Ibrahim and Mark Gbillah, which was unanimously adopted at the plenary, yesterday.
The motion was titled, ‘Need to Investigate the Structure and Accountability of the Joint Venture Businesses and Production Sharing Contracts of the Nigerian National Petroleum Corporation from 1990 Till Date’.
The sponsors noted that Section 88 (1) and (2) of the 1999 Constitution empowers the National Assembly to conduct investigations on the activities of any authority executing or administering laws made by the National Assembly.
The lawmakers also noted that Escravos Gas-to-Liquid (EGTL) Project is a JV undertaking by the Nigerian National Petroleum Corporation (now Nigerian National Petroleum Company Limited) and Chevron Nigeria Limited for the construction of a 34,000 barrels-per-day of Gas-to-Liquids (GTL) plant at Escravos, Delta State.
They further noted that a total of $1.294billion was earmarked for the EGTL project in 2001 and by the time the contract was awarded in 2005, the final approved cost rose to $2.941billion, which was further increased to $8.6billion as of December 31, 2011; and upon completion in 2014, the total project cost was over $10billion.
The motion partly read, “The House is concerned that the ETGL and its JV projects are executed at such huge costs when similar projects in other jurisdictions like Qatar, which have the same capacity, technology, Engineering Procurement and Construction (EPC) contractors and operators, cost less than $1.5billion.
“The House is also concerned that although EGTL projects are basically governed by the Heads of Agreement, Carry Agreement and the Venture Agreement in line with various legal regimes such as Companies and Allied Matters Act, Petroleum Profit Tax Act, Companies Income Tax Act in principle, there is a breach of the principles involved.
“The House is worried that the Bonga field (OML 118), which is owned by the NNPC but contracted to SNEPCO (55per cent), ExxonMobil (20per cent), Agip exploration (12.5per cent), and Total (12.5per cent) under the Production Sharing Contract, now seems to be far from being a PSC arrangement as it runs foul to the relevant financial operational laws.”
It further read, “The House is also worried that the Offshore Gas Gathering System, which was designed to gather gas from various upstream projects in the Niger Delta region under a PSC and JV arrangement with companies such as SNEPCO, SPDC, NLNG has now become mired in some operational misunderstandings.
“The House is disturbed that in the brewing misunderstanding, SPDC and SNEPCO allegedly went into certain gas sales and sharing arrangements without the prior knowledge and/or consent of the Federal Government via the NNPC, which has resulted in certain shortfalls in revenue into the federation accounts.”
News
Arrest Arise TV Crew Attackers Or Face Boycott, Journalists Tell Rivers Police
Port Harcourt based media practitioners under the aegis of Port Harcourt Press, have urged the Rivers State Police Command to arrest and prosecute all suspects involved in the recent attack and harassment of Arise TV crew in Port Harcourt.
The media practitioners, at a World press conference in Port Harcourt, described as dangerous the continuous harassment of journalists by various political actors in the ongoing political crisis in the State.
The text of the briefing which was read by a former State Commissioner for information and Communications and federal lawmaker in the State, Hon. Ogbonna Nwuke, described as condemnable the attack on the Arise TV crew by suspected political thugs in Port Harcourt, while conducting an interview with Dr Leloonu Nwibubasa, a former commissioner in the State.
According to him, “That harrowing event of Friday, January 2, where the Arise TV crew were brutally attacked by armed men in a hotel in Port Harcourt while conducting interview with Dr Leloonu Nwibubasa, former Honourable Commissioner for Employment Generation and Empowerment, smacks of nothing but act of intimidation, threat to both the Nigerian media and human lives especially in the forceful carting away of broadcast equipment.”
The group further noted that the attack was not only an insult on the press freedom but on the larger society.
The group regretted the inability of the Police to arrest and bring to book the perpetrators of the act till date, warning that it may be forced to boycott police activities if those involved are not arrested and brought to book.
“From all indications, the police appear to be playing to the gallery. While the broadcast equipment were reportedly recovered, no definite arrest have been made. This body, therefore, demands an urgent and thorough investigation of this matter and those find culpable brought to justice within two weeks.
“Failure to address this issue with the urgency it requires and not carrying out satisfactory actions as required in their prosecution will attract sanctions such as withdrawal of coverage of all police activities in Rivers State by media organisations and journalists as we stand in solidarity with the NUJ,” the group warned.
John Bibor
News
Be Patient With Us, Diri Tells Bayelsans … Inspects New 60mw IPP …Expresses Confidence In Technical Partners, BECL MD
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Akpabio Withdraws All Defamation Suits After Priest’s Sermon
The Senate President, Senator Godswill Akpabio, has directed his lawyers to withdraw all ongoing defamation lawsuits against several individuals, saying he was moved by counsel during a New Year Mass.
Speaking at the Sacred Heart Parish in Uyo, yesterday, Akpabio said he had filed nearly nine lawsuits against individuals he accused of defaming him.
He said, “I had almost nine cases in court against some individuals who defamed me, who lied against me, who slandered my name.
“But I listened to the priest and suddenly realised he was talking to me, so I hereby direct my solicitor to withdraw all lawsuits against them.”
In 2025, Akpabio had filed several high-profile defamation lawsuits, including one against colleague Senator Natasha Akpoti?Uduaghan.
In late 2025, Akpabio filed a N200 billion defamation lawsuit against her over allegations of sexual harassment, which he denied and urged her to substantiate in court.
Earlier in the year, Akpabio’s wife also filed defamation suits against Akpoti?Uduaghan over claims she said had harmed her family’s reputation.
Relations between the two lawmakers soured after Akpoti?Uduaghan accused Akpabio of influencing her suspension from the Senate in March 2025, following her public allegations of misconduct.
The Senator had previously challenged actions taken against her in court, including a N100 billion defamation suit she filed against Akpabio and other defendants over alleged remarks that she said damaged her reputation.
With yesterday’s announcement, Akpabio has formally ended all pending legal disputes arising from defamation claims, signalling closure to the publicised litigations as the year begins.
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