I WORE BLACK TODAY IN HONOUR OF NIGERIANS SUFFERING IN LIBYA- SENATOR AKPABIO

Senator Godswill Akpabio supported a motion on :

THE LEGISLATIVE INVESTIGATIONS OF LOCAL CONTENT ELEMENTS AND COST VARIATIONS RELATING TO THE EGINA OIL FIELD AND OTHER RELATED PROJECTS.

The motion exposed the rot in oil deals and contracts entered on behalf of Federal Government by NAPIMS and DPR all departments of NNPC.

The motion which generated a lot of outcry by the Senate chambers deliberated the variation of the project which was estimated at $6B but has undergone several cost variations that currently puts the cost at $16B today.

In his contributions, he stated and I quote,

“ The oil industry is slippery, the more you look, the less you see”.

He stated that as a governor, he was privileged to sit during an offshore investment deal by Shell, it was predicated that they will recoup their money in 25 years but barely after 7 years they had recouped their investment., but they insisted on continuing on the terms of the contract without remittance to FG.

In the contract, it was supposed to be based on:

·         Build

·         Operate

·         Transfer

But in actual sense they refuse to comply to this process, rather continue to absorb all the revenue from this investment with nothing going to FG.

We suffer in this country due to some of the nature of contacts entered in by NNPC he said.

He became very passionate about the motion by recounting how many Nigeriasn are suffering today even in Libya as slaves while our funds are mismanaged. He became deeply emotional, and that’s why=en he reminded everyone that he was wearing black to the green chambers today over the humiliation and enslavement of Nigerians in Libya today looking for better life when billions of dollars investments cannot be properly accounted for.

He said the stories we have been watching, listening to over the plight of Nigerians in Libya is painful.

He said these foreign oil companies entered deceived us into poor contracts due to lack of technology to take our destiny in our hands in oil sector . These kinds of shady contracts he said, only occurred in Nigeria not in Angola or US.

He called on Senate to commence investigations to help the country trace and block leakages and revenue needed to move our struggling economy forward.