The House of Representatives has called for forensic audit of three pipeline projects worth $3.288billion.
The House Committee on gas resources that investigated the contract for the upgrade of OML 58 Upgrade 1; execution of Obite-Ubeta-Rumuji (OUR) pipeline; and the Northern Option Pipeline Projects recommended forensic investigation into the projects.
The committee chaired by Fred Agbedi (PDP, Bayelsa) called for forensic investigative audit into the cost overrun emanating from all change orders, including USD 2.2 billion on OML 58 Upgrade 1, USD560 million on OUR Pipeline and USD 528 million on NOPL Pipeline Projects.
The committee admitted difficulty in establishing the true cost, claiming that all the parties involved in the contract gave contradictory figures.
The committee called for “thorough investigation of the professional and/or personal relationship between NNPC/NAPIMS Management and TEPNG on the one hand and TEPNG and local contractors on the other hand in relation to this project to establish claims by parties and ensure fairness of purpose.”
The House also resolved to recover the sum of US592million from TEPNG in line with recommendations of Tabor VFM Audit Report; and that all ‘contracts awarded in this sector should be subjected to Value for Money Audit.”
INVESTIGATION15 hours ago
Billionaire Doyin Group chairman, Samuel Adedoyin’s grandson commits suicide
THE NEWS9 hours ago
‘I stabbed him twice’, suspect narrates how she killed Super TV CEO (VIDEO)
BUSINESS14 hours ago
Kano bakers threaten indefinite strike over BUA Group, IRS, others flour price hike
THE NEWS3 days ago
We are using agency banking to drive entrepreneurship, wealth creation – Ecobank
THE NEWS2 days ago
Farouk Lawan sentenced to seven years in prison over $3m bribe
SPORTS14 hours ago
EURO 2020: Vexed by DStv’s price, football fans switch to StarTimes
THE NATION1 day ago
IWD: Pains of widows in Nigeria and CBA Foundation’s drive to assuage them
OPINION6 hours ago
Anambra PDP and the audacity of usurpation, By Uchem Obi