How Nigeria Govt Spent N12 Trillion on Repairing Country's Refineries with No Result

N12 trillion refinery Nigeria news
NNPCL The Senate
Fact is emerging on how the Federal Government of Nigeria spent N12 trillion to rehabilitate the four crude oil refineries owned by the country. Unfortunately, none of the four refineries owned by the Nigerian government is working, despite the huge sum of money spent on their repairs.

The shocking story was revealed by the National Assembly when the Chairman of the Senate Committee probing the rehabilitation of the country’s Refineries, Senator Isa Jibrin, threatened to recommend the sacking, court trial, and jailing of some of the senior officers of the government agencies involved in the spending of the alleged N12 trillion rehabilitation project which was code-named Turn Around Maintenance (TAM) projects of the refineries.

Providing a skeptical breakdown of how the country spent N12 trillion on the TAM Project of the refineries with no result, Senator Jibrin stated the money was released to the concerned agencies between 2010 under the administration of former President Goodluck Jonathan and 2023, during the administration of ex-president Muhammadu Buhari.

The most disturbing part of the revelation is that between 2010 and 2020 the concerned agencies allegedly spent N4.8 trillion on “operational expenses” whereas none of the refineries is in operation.

Concerning how the money was spent, the Senate had invited, for interrogation, the chief executive officers of Nigerian National Petroleum Corporation Limited (NNPCL), Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Nigerian Upstream Petroleum Regulatory Commission (BUPRC), among other agencies as reported by the Daily Trust.

Amazingly, all the invited chief executives turned down the invitation but sent representatives who seemed not to have relevant ideas about the subject of the investigation. The House claimed it has been demanding from the concerned agencies to provide government documents that show how the N12 trillion was spent on the TAM project of the refineries but none of the agencies has been able to present a document in the past two weeks.

Category: World-News
Tag: N12 trillion refinery Nigeria news
Written by Omooba Alekuwodo (omoobaalekuwodo)
Published 11/24/2023 11:32:29 AM

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