Financial Energy Review
The Minister Of State For Petroleum Resources, Heineken Lokpobiri has accused the Nigeria Content Development and Monitoring Board (NCDMB) of diverting $500 million of the industry’s fund into equity investment in private enterprises and investments.when Engr. Simbi Wabote was the Executive Secretary of NCDMB.
The Minister made this allegation at a recent Petroleum Club’s quarterly event in Lagos. The allegation has ruffled the feathers of the former Executive Secretary (ES) of NCDMB as well as raise some concerns and worries among industry operators.
But the Minister has refused to stand down his accusations but rather insisted that he stand by his statement against the former ES that NCDMB wasted over $500 million of the industry’s fund in equity investments in private establishments and in loans that are now non-performing.
However the allegation is not unconnected to the recent media statement by the former ES that the Minister had arm-twisted him to increase his budget from NCDMB to N30 billion.
But the Minister dismissed the former ES counter accusation. “As blatant lies from the pit of hell that his office requested for increase on NCDMB budget by N30 billion for the office of the Minister” Lokpobiri said.
According to a statement signed by the Minister’s Special Adviser, Media and Communication, Nneamaka Okafor, the former ES must prove his allegation.
‘’Our position is that he who alleges must prove same. So, if Mr. Wabote has proof of such conversation, he is challenged to provide same.
‘’Secondly the Minister has no aide called Blackson. All his aides were duly selected in line with extant laws and have documents to that effect.
“The Minister in his capacity as chairman of the Governing Council stands by his statement at The Petroleum Club’s quarterly event in Lagos, and as journalists I welcome you to visit the places mentioned to verify the allegations for yourself.
‘’Thirdly, the said Atlantic Refinery was supposed to be built in Mr Wabote’s home town, he should show Nigerians where that refinery is.
‘’Fourthly, the Brass Fertilizer and Petrochemical company was also paid for, you are welcomed to also visit the site to verify the facts for yourself” Okafor said in the statement
The statement noted that Investigations are ongoing and the truth will surely come to light and monies belonging to the generality of Nigerians will be recovered for Nigerians.
‘’Let me add that these revelations are not new, they were first made during an investigative hearing of the House of representative committee on local content. Again the records are there and you are welcome to verify these facts.
‘’The Minister has never been part of any budgeting process of any parastatal under the Ministry, you are welcomed to visit these agencies to verify for yourself.
‘’Finally, the Minister’s office is run with a budget superintended by the permanent secretary and so one will wonder, how the Minister will ask another entity to make provisions for the budget of his Office. The Minister has an impeccable record from his time as Minister of Agric and will continue to stand for the truth.
“The Minister and Indeed the Chairman of the Governing Council of the NCDMB will not abdicate his responsibility to please anyone. He has a responsibility to ensure that, that which belongs to Nigerians is judiciously used for Nigerians
‘’I have had course to read Mr Wabote’s release and every one can see that he is still nursing the wounds of being replaced even after spending seven years at the Board.At best, this is a clear case of when you fight corruption, corruption will fight back” the statement by Okafor said.
