NNPC: Reps probe 5.2 million barrels Direct Sale Direct Purchase crude oil allocation NNPC: Reps probe 5.2 million barrels Direct Sale Direct Purchase crude oil allocation
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The House of Representatives, on Wednesday, unveiled plans to investigate the activities of Nigerian National Petroleum Corporation on the allocation of crude under the Direct Sale Direct Purchase (DSDP) scheme.
The resolution was passed sequel to the adoption of a motion sponsored by Hon Abubakar Makki Yalleman, who underscored the need for the Corporation to account for the total of 5.2 million barrels allocated for domestic supply in 2018 to date.
In his lead debate, Hon Yalleman expressed concern over the media report on “the unfortunate details of how Nigeria’s crude oil is being stolen or diverted daily.
The resolution came after the adoption of a motion moved at the plenary on Wednesday by Rep. Makki Yalleman on the need to scrutinise the DSDP scheme.
Presenting the motion, he said the contents of a report published in ThisDay Newspaper of 14th February 2021, brought to national attention the unfortunate details of how Nigeria’s crude oil is allegedly being stolen or diverted daily.
Quoting the report, he said approximately 5.2 million barrels of crude oil supposedly allocated to the comatose NNPC refineries in 2018 under Direct Sales Direct Purchase (DSDP) operations are unaccounted for.
He said: “Essentially, almost half of the 10.9 million barrels of crude oil allocated for domestic supply between June 2018 and July 2019 as reported by the NNPC is either stolen or diverted.”
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Leke Baiyewu, Abuja
The House of Representatives has resolved to investigate the 5.2 million barrels of crude oil worth $339m, which was reported to have been unaccounted for by the Nigerian National Petroleum Corporation under the Direct Sales Direct Purchase scheme.
A member of the House, Abubakar Yalleman, moved a motion at the plenary on Wednesday to call for investigation of the DSDP arrangement, which has allegedly led to loss of oil and revenue.
The motion was titled ‘Urgent Need to Investigate the Allocation of Crude Under the Direct Sale Direct Purchase (DSDP) Scheme.’
Following the unanimous adoption of the motion, the House resolved to set up an ad hoc committee to investigate “allocation of crude oil under DSDP scheme from 2018 till date, crude oil allocation per refinery and the rationale for such allocation, and what happens to unutilised stock of crude oil in the case of a refinery with inadequate production capacity.”
House of Reps to probe missing 5 2 million barrels of crude oil today.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from today.ng Daily Mail and Mail on Sunday newspapers.
Business/Energy
Recently, Nigerians, who were already agonising in the atmosphere of unabating insecurity, were greeted with yet another bad news; an imminent fuel price increase. What is more disturbing is the call for them to bear the pains of the increase, as if they ever had any respite from all the years of persistent price rise in petroleum products. Fortunately, towards the end of last week, the Nigerian National Petroleum Corporation (NNPC), through its spokesperson, Kennie Obateru, said there would be no fuel price increase. As good as the news may be, it tells about some lack of coordination between the NNPC and the Ministry; and an embarrassing lack of communication between the GMD and the Minister. Chris Paul reports