Reps to probe FEC over N895bn gas supply payment

By Umar Muhammad Puma

The House of Representatives has mandated its committee on power to investigate the Federal Executive Council (FEC) over N895 billion gas supply payment.

The resolution of the House followed the adoption of a motion sponsored by Rep. Chris Emeka Azubogu (PDP Anambra), titled; “need to investigate the N701 billion payment assurance facility plus N194 billion interest payment approved by FEC for emergency and long term power sector recovery plan as interventions to ensure payment for gas supply and generation subsectors of the electricity industry.’’

Moving the motion, Azubogu explained that FEC approval N701 billion for Nigeria Bulk Electricity Trading as an intervention in the power sector as well as other payments to Distribution Companies (DISCOS).

He said that the Federal Government and the World Bank Group were planning 2.519 billion dollars as financial support for Nigeria Bulk Electricity Trading (NBET).

Azubogu added that the support was a payment guaranty for the Power Generating and Gas Supplier Companies to ensure stable power supply that will drive the economy.

He said that the National Council on Privatization (NCP) and the Bureau of Public Enterprises (BPE) are statutorily empowered to manage the Privatization and Commercialization Programme by ensuring that the Power Sector Reform progresses successfully.

Adding that the NCP has been properly constituted with the Vice President of Nigeria as the Chairman and the Minister of Finance as the Vice Chairman with representatives of the Ministries of Finance, Trade and Industry, National Planning, Justice and the Central Bank of Nigeria (CBN).’’

He said that although the ministers of Power and Petroleum resources were not members of the NCP, they ought to be invited to meetings that will involve energy steering committee established by the NCP.

He added that the Chief of Staff (COS) to the President should be invited to meetings as the representative of the Office of the President.

The motion was unanimously adopted by members when it was put to a voice vote by the Speaker, Mr Yakubu Dogara.

The House therefore, mandated its committee on Power to investigate the approval to ensure that the entire process was geared towards significant improvement of power supply in Nigeria. The committee is to submit its report within four weeks for further legislative inputs

Leave a comment

Your email address will not be published. Required fields are marked *