Toba Owojaiye reporting
Abuja, Nigeria
The Senate Committee on Gas has summoned key companies involved in the disbursement of funds from the Nigeria Gas Expansion Program (NGEP) Intervention Fund. Among the notable beneficiaries are NIPCO Gas Ltd, receiving ₦25 billion, Lee Engineering and Construction Company with ₦15 billion, and Dangote Oil Refinery securing ₦5 billion.
These companies, totaling 15, are invited to an investigative hearing on Thursday, 30th November, 2023, at 2:00 pm in Meeting Room 107, New Senate Building, National Assembly Complex, Abuja. The hearing aims to review the progress of the projects funded by the Central Bank of Nigeria (CBN).
Sen. Jarigbe Agom Jarigbe, Chairman of the Senate Committee on Gas, has mandated the invited companies to provide detailed progress reports during the session. These reports should include the current status and locations of the projects financed by the NGEP funds.
Truth Live News gathered that the allocation of substantial amounts to these companies stresses the need for transparency and accountability in managing funds earmarked for crucial national programs. The Senate’s scrutiny seeks to ensure the effective utilization of resources and promote the success of the NGEP initiatives.
Launched to stimulate rapid growth through gas utilization, NGEP promotes Compressed Natural Gas (CNG) for transportation and Liquefied Petroleum Gas (LPG) for domestic and small industrial use. This initiative is part of the CBN’s intervention programs.
In December 2020, the Nigerian government initiated the National Gas Expansion Programme (NGEP) to enhance natural gas usage, making it a preferred, cleaner, and more affordable energy source for both personal and industrial applications.
It remains unclear if Dr. Mohammed Ibrahim, Chairman of NGEP, has also received a summons in connection with the investigation.
