The Federal Government yesterday approved the sum of N363.6 for the probe of the country’s oil and gas sector as well as its solid minerals counterpart.
Government’s decision followed serious concerns raised by the Nigerian Extractive Industry Transparency Initiative (NEITI)? on the poor management of crude oil and importation of petroleum products by the Nigerian National Petroleum Corporation (NNPC).
Information Minister, Mr. Labaran Maku, who gave this hint while briefing State House Correspondents after the Federal Executive Council (FEC) meeting, noted that, already the audit contracts had been awarded to two audit firms at the cost of N363.6million and? completion period of 9 Months.
The two firms are Messrs Sada Idris & Co, which is responsible for comprehensive audit of the oil and gas sector and Messrs Haruna Hahaya & Co which is to handle the solid minerals sector.
The probe of the oil and gas sector, Maku said, was to cover the period from 2009 to 2011, while the solid minerals sector probe would span from 2009 to 2010.
The minister further added that the consultants were to carry out Nigeria’s hydrocarbon and solid mineral audit values, even as they were also expected to access the volumetric aspects of production, export, imports, unaccounted oil and gas and solid minerals, including other relevant streams.
The consultants have also been mandated to provide the on and off? job training of secretariat staff that would be involved in the assignment in order to build capacity and enhance efficiency for future purposes.
Maku noted further that the exercise which would provide relevant information and data for the government’s anti corruption agencies would also assist the country to comply to NEITI standard at the global level, which Nigeria was signatory to.