The Nigerian Senate has passed a motion to set up a committee “to conduct a holistic investigation into the allegations of corruption against the Nigerian National Petroleum Corporation (NNPC) Trading, the GMD of NNPC (Dr. Maikanti Baru)” in reaction to the details of a recently leaked letter to President Muhammadu Buhari by the Minister of State of Petroleum, Dr. Ibe Kachikwu.
The motion was raised by Senator Sam Anyanwu.
The Motion highlighted the fact that Duke Oil, one of the outfits that makes up NNPC Trading was incorporated in 1989 in Panama and does not pay tax in Nigeria.
The Motion also mentioned that there are several allegations of the general lack of transparency in and the non-provision of a level playing field, which often favor Duke Oil to lift petroleum products without payments, as opposed to its competitors.
These practices, according to the Senate, have led to Duke Oil becoming the highest money earner, and at the same time, the highest money waster — which helps to greatly stifle the growth of indigenous companies operating in the sector.
“Additionally, Duke Oil remains the sole importer of AGO to PPMC and Retail, which it does through third parties. This contributes to slowing down the growth of our indigenous companies that are making giant strides in the sector,” Senate president Bukola Saraki said in a statement.
Saraki listed Senators Tayo Alasoadura, Kabir Marafa, Akpan Bassey, Sam Anyanwu, Ahmed Ogembe, Chukwuka Utazi, Rose Oko, Baba Kaka as members of the Committee to investigate the NNPC Group trading with Senator Aliyu Wamakko as chairman.
The Senate President asked the Committee to take the allegations and their investigative work very seriously, saying that it is a matter that goes to the root of stamping out corruption in Nigeria.