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By Ike Uchechukwu There are speculations that Federal Government may have lost over N1.2 trillion in oil revenue following the alleged breach of the 2000/2001 fiscal incentive package conditions by SINOPEC-ADDAX. In a statement issued in Calabar at weekend, the Senator representing Cross River Southern Senatorial district in the senate, Senator Gershom Bassey said he had earlier sponsored a motion on the floor of the house drawing the attention of government to that effect. Accordingly, he said the Senate has mandated the Senate Committee on Petroleum Upstream and Senate Committee on Gas to “scrutinize the 2000/2001 Fiscal Incentive Package and other Federal Government agreements with Sinopec-Addax Petroleum Company with a view to ascertaining the level of the company’s compliance with these agreements and make recommendations”.

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