House Of Reps. Adopt Jarigbe Agom’s Motion To Investigate Oil Marketers

In Breaking News, Business & Economy, National News, Politics, Reports

By CrossRiverWatch Admin

Jarigbe Agom - PDP, Ogoja/Yala Federal Constituency
Jarigbe Agom – PDP, Ogoja/Yala Federal Constituency

The House of Representatives yesterday adopted a motion sponsored by Mr. Jarigbe Agom Jarigbe (Ogoja/Yala Federal Constituency of Cross River State) on the urgent need to investigate the huge debts owed the Petroleum Products Marketing Company (PPMC) by some major and independent oil marketers.

Jarigbe had alleged that “there is a connivance and compromise by functionaries of PPMC to leave government funds in the hands of these marketers, thereby putting the country in dire financial straits.”

The House commenced an investigation of the key oil companies which are allegedly indebted to the country to the tune of over N500 billion by inaugurating an ad-hoc investigative committee to follow up the allegations.

The marketers allegedly involved in the huge indebtedness are Oando, Forte Oil, Total Oil, Conoil, Masters Energy Oil and Gas Ltd. Others are MRS Oil and Gas, Heyden Petroleum, Rahamaniyya Petroleum, Amicable Petroleum, Aiteo Petroleum, Honeywell Oil, Capital Oil, Felande Petroleum, Sharon Oil and Zamson Petroleum.

The Speaker of the House, Mr. Yakubu Dogara, who inaugurated the Abdullahi Gaya led ad-hoc committee justified the move, saying it was aimed at plugging the loopholes in existing laws and practices in the downstream sector of the economy.

Represented by the Chief Whip, Mr. Ado Doguwa, the Speaker said: “We expect that in no distant future, the committee will be inviting some companies and individuals to provide answers to questions as to what happened to the downstream sector. We hope that this committee will conduct its affairs in a serious and corruption-free manner as the House will not tolerate any evidence of undue influence or improper conduct.”

Gaya who reechoed the Speaker’s position said the hearing underlined the resolve by the lower legislative chamber to return the country to the path of economic prosperity.

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