The Nigerian National Petroleum Corporation Retail and the Managing Director of Capital Oil and Gas, Dr. Ifeanyi Ubah, traded words on Thursday over the diversion of N11.1bn petrol from the facilities of Capital Oil. The House of Representatives Committee on Petroleum Resources (Downstream) is investigating the diversion of the product, which NNPC-Retail stored in Ubah’s facilities under a “throughput agreement” the two signed in December, 2016.
The committee, which is chaired by Mr. Akinlaja Joseph, had summoned Ubah earlier on Wednesday to appear before it on Thursday. But, as the testimonies were being taken by the committee, Ubah and officials of the NNPC-Retail disagreed on several issues, including the quantity of fuel diverted and the procedure the NNPC adopted in trying to recover the product.
For instance, while the NNPC-Retail put the total quantity of petrol diverted by Capital Oil at 84 million litres, or N11.1bn at N131 per litre, Ubah told the committee that his verified figure was 82 million litres.
Post a Comment