The Senate is set to investigate the diversion of 1.5 billion dollars from the Nigerian Liquefied Natural Gas (NLNG) dividend to build up the shortfalls between the landing cost and pump price of Premium Motor Spirit (petrol).
This followed a Point of Order by the Chairman of the Committee on Gas, Senator Bassey Akpan, during Tuesday’s seating asking the Upper Chamber to give approval for the committee to investigate the withdrawal and payments by the oil corporation.
Mr Akpan said the funds belong to the three arms of government and described NNPC’s withdrawal of the funds as illegal.
Senate President, Bukola Saraki in his ruling, mandated the committee to proceed with the probe.
The NLNG probe will run concurrently with another probe by a Senate Ad-hoc Committee on the use of 3.5 billion dollars by the NNPC for subsidy.