A House of Representatives ad hoc panel is to engage the Minister of State for Petroleum, Ibe Kachikwu, over the alleged loss of about $21 billion to non-remittance of crude oil sales.
Kachikwu is to provide answers on why relevant authorities allowed the country to lose such huge amount of money, which would have been used for Nigeria’s development.
The committee also said it would ensure that all the debts owed by international oil companies (IOCs) are fully recovered.
The chairman of the panel, Rep Daniel Reyenieju (PDP, Delta), said during the inaugural meeting of the committee in Abuja yesterday that all relevant stakeholders, including IOCs, would be invited to answer questions and contribute on how the amount could be recovered.
The panel is working on two motions of the House, which mandated it to probe the circumstances that led to the loss of the $21bn revenue and the huge debts being owed local companies and indigenous contractors by IOCs and gas companies with a view to ensuring that such debts are paid promptly.