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Senate summons Kachikwu over unclear oil deals

22 November 2016, 16:23

Abuja - The Senate has summoned the minister of state for petroleum, Ibe Kachikwu over unclear details of the oil deals he signed with China and India, Naij reports.

The Senate said during plenary on Tuesday, November 22 that the minister should appear before its Petroleum Upstream Committee, Gas Committee and Foreign Affairs Committee to explain himself.

The Senate said it is aware the minister of state for petroleum negotiated a $15B investment with India for an upfront payment for crude purchases but was not sure of the details.

The lawmakers resolved to summon Kachikwu after debating on a motion sponsored by Senator Clifford Ordia (Edo Central) over the need for a detailed explanation of the $15B proposed MOU with India and over $80B MOU signed by Kachikwu with the Chinese.

Senate noted that Kachikwu carried out a road-show in China where an MOU worth over $80B to be invested in the Oil and Gas Industry was signed.

The Senate earlier summoned Minister of State for Petroleum, Ibe Kachikwu, to appear before its Committee on Petroleum (Downstream) on Tuesday over lingering fuel scarcity in the country according to News24.

The minister is expected to tell the committee the strategy he is employing to solve the problem.

- News 24


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