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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 �...

Punch Newspapers Sections Sunday Aborisade, Abuja The Senate on Tuesday constituted a seven-member ad hoc committee to investigate an alleged N1.2tn oil revenue loss to the Federal Government owing to an alleged breach by Sinopec Addax Petroleum. The ad hoc committee which is chaired by Senator Aliyu Abdullahi has six other members – Gershom Bassey; Biodun Olujimi; Ahmad Baba Kaita; Jubril Isah; Michael Nnachi; Clifford Ordia; and Haliru Jika. The decision to investigate the revenue loss which should have accrued to the Federal Government was contained in a resolution by the Senate after it...

Senate constitutes Adhoc Committee to investigate alleged N1.2trn oil revenue loss Senate constitutes Adhoc Committee to investigate alleged N1.2trn oil revenue loss Share The Senate, on Tuesday, constituted a seven-man Adhoc committee to investigate a N1.2 trillion oil revenue loss to the Federal Government in its upstream oil sector. SINOPEC ADDAX Petroleum is being fingered as the multinational oil firm responsible for the loss. Senator representing Niger North, Aliyu Sabi Abdullahi is to chair the Adhoc Committee which has six other lawmakers as members. The investigative team include; G...

Punch Newspapers Sections Sunday Aborisade, Abuja The Senate on Tuesday constituted a seven-member ad hoc committee to investigate an alleged N1.2trn oil revenue loss to the Federal Government owing to an alleged breach by SINOPEC ADDAX Petroleum. The ad hoc Committee which is chaired by Senator Aliyu Sabi Abdullahi has six other members which include, Gershom Bassey; Biodun Olujimi; Ahmad Kaita; Jubril Isah; Michael Nnachi; Clifford Ordia; and Haliru Jika. The decision to investigate the revenue loss which should have accrued to the Federal Government was contained in a resolution by the Sen...