House of Representatives Ad hoc Committee investigating the alleged illegal sale of 48 million barrels of crude oil in China valued at over $2.4 billion has dismissed the allegation was false and unsubstantiated.
The panel, which is also probing the total sum of crude oil exports and sales from 2014 till date, equally cleared the then Nigerian National Petroleum Company (NNPC) of any wrongdoing.
The House had, last December, constituted the Mark Gbilla-led committee to probe the claim when it adopted a motion sponsored by Isiaka Ibrahim from Ogun State, at plenary.
Ibrahim had said “a whistle-blower alleged in July 2020 that he had, in July 2015, brought to the attention of a committee purportedly set up by the President for recovery of missing crude oil exports, existence of 48 million barrels of Nigeria’s Bonny Light crude oil in storage at several ports in China, on authorisation of the then NNPC for sale to cargoes.
Ever since, the panel has been meeting and inviting relevant stakeholders on the matter, including erstwhile Attorney General of the Federation (AGF) and Minister of Justice, Abubakar Malami.
The committee, in its report presented yesterday during plenary, said after a thorough investigation, it discovered that the credibility and character of the individuals, who made the allegations, were questionable.
It, therefore, advised the National Assembly, anti-graft agencies and other agencies of government not to waste taxpayer’s funds in furthering investigation, as the claims “appear to be completely fraudulent and unsubstantiated.”
Part of the findings included: “Records show Nigeria produces about 250,000 barrels of Bonny Light crude daily, and is exported mainly from one terminal (Bonny). So, it would take about six months and 12 days for up to 48 million barrels of Nigeria’s Bonny Light crude to be produced. It is not feasible to think for over half a year, the entire quantity of this very sought-after type of crude oil grade produced by Nigeria and exported from this terminal was stolen out of the country without traces.”
The panel equally urged security and anti-graft agencies to prosecute the individuals, who initially made the allegations to check future falsehood.
