Senate sets to Probe Federal Government’s Multi-Million Dollar Gas Deal with Accugas

In the upper chamber this time, the Senate says it will investigate a gas processing deal involving the Ministry of Finance, the Niger Delta Power Holding Company, Calabar Generation Company Limited and Accugas Limited.

According to the sponsor of the motion, Senator Aniekan Bassey, the gas supply agreement is disadvantageous for Nigeria but the process of getting the country out of the agreement further plunged the nation into another problem.

The upper chamber is urging the Federal Government to ensure due diligence in the preparation and execution of transaction agreements with investors to avoid the scenario the government is facing under the Gas Supply Agreement GSA with Accugas and several other entities.

The lawmakers said the deal which involved the sum of $10 million is not a small amount of money.

The Deputy Senate President, Barau Jibrin, subsequently referred the motion to the Committee of Power to look into the matter.