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NNPC boss summoned over Oso Project

05 March 2013, 16:03

Abuja - The House of Representatives on Tuesday summoned the managing director of  Nigeria National Petroleum Corporation (NNPC), Mr Andrew Yakubu, to brief it on the Oso Condensate Project.

The managing director is expected to present a detailed report to the Committees on Petroleum Resources (Upstream), Petroleum Resources (Downstream) and Gas Resources within two weeks.

The assembly resolved to summon the managing director based on a motion moved by Rep. Michael Bamidele (ACN-Ekiti), which was adopted unanimously  by members of the house.

Leading  the debate , Bamidele said that the Oso Condensate Project Act authorises NNPC to borrow money in any currency to execute the project.

According to the lawmaker, the project has not been reviewed since inception.

He expressed concern that many Nigerians did not know much about the Oso Condensate Project and stressed that it was imperative that the assembly be given an update on the project.

The legislator said it was important that Nigerians knew what the Oso project entailed, the money borrowed and the currency used in executing it.

He urged his colleagues to support the motion so that Nigerians would  be kept abreast of  the development around the project.

The lawmaker said that the motion was essentially on the need to review the project.

In his contribution, Rep. Linus Okorie (PDP-Ebonyi) said that the motion was vital to the growth and development of  the oil and gas sector.


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