Senate Gives Finance Minister, Wale Edun Seven Days To Provide Details Of How N100b Gas Project Fund Was Disbursed

The New Diplomat
Writer

Ad

2027: Reaction as Kachikwu Says Jonathan Has Offered Obi Key Role to Quit Presidential Race

By Abiola Olawale Dumebi Kachikwu, the 2023 presidential candidate of the African Democratic Congress (ADC), has claimed that former President Goodluck Jonathan is allegedly attempting to sway Peter Obi, the Labour Party’s 2023 presidential candidate, to abandon his 2027 presidential ambition. According to Kachikwu, Jonathan has allegedly dangled the position of Coordinating Minister of the…

Tears as Ex-minister, Audu Ogbeh, Dies at 78

By Abiola Olawale A former Minister of Agriculture and Rural Development, Chief Audu Ogbeh, is dead. Ogbeh, who was also a former National Chairman of the Peoples Democratic Party (PDP), was said to have passed away peacefully on Saturday, August 9, 2025, at the age of 78. This was contained in a statement released on…

How Obasanjo Got Angry at Me Over Diesel Deregulation – Otedola Opens Up

By Abiola Olawale Nigerian billionaire businessman, Mr Femi Otedola has shared a dramatic encounter with former President Olusegun Obasanjo over the 2004 diesel deregulation policy. This was detailed in his upcoming memoir, Making It Big: Lessons from a Life in Business, set for release on August 18, 2025, by FO Books. Otedola, then chairman of…

Ad

By Ken Afor

The Senate Committee on Gas Resources has given a seven-day ultimatum to Mr. Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, to provide it with details of how the Presidential Initiative on Compressed Natural Gas (PICNG) Steering Committee disbursed the N100 billion to companies undertaking the project.

The ultimatum was given following a petition written to the Senate Committee by a civil society organization known as Good Governance and Transparency Front.

The group alleged that the selection process of the companies was done in breach of the Public Procurement Act 2017.

This was conveyed in a letter issued by Senator Jarigbe Agom Jarigbe, Chairman of the Senate Committee on Gas Resources, who is a member of the Peoples Democratic Party (PDP) from Rivers State to the Finance Minister.

This development follows a fresh plan by the PICNG to release another N130 billion to an unknown number of companies.

According to the letter, “I am writing to request for comprehensive brief regarding the utilization of the sum of N100 billion allocated by the federal government for the development of gas infrastructure aimed at providing Compressed Natural Gas, CNG, to Nigerians as an alternative to fossil fuels.

“The committee is seeking detailed information on the process followed in the award and disbursement of funds to the companies benefiting from the allocation.

”I would appreciate insight into the compliance of these processes with the provisions of the Public Procurement Act 2007.”

The committee stressed its interest in understanding the steps taken by the PICNG in the bidding process and how the contracts were awarded to the selected companies.

According to the Senate committee, request became necessary to ascertain whether the PICNG followed due process, which should not fall short of public trust and accountability.

The committee added, ”Specifically, the committee is interested in understanding the steps taken in the opening of bids, the qualification criteria applied, and the subsequent award of contracts to the selected companies.

”Transparency and adherence to due process are crucial aspects in ensuring public trust and accountability in such initiatives.

“Kindly provide documentation and details regarding the companies that received funding, outlining the specific projects or initiatives they are undertaking to promote the use of Compressed Natural Gas (CNG) in the country.

“I believe this information will be invaluable for our committee’s oversight responsibilities and contribute to ensuring the success and effectiveness of government ‘s efforts in promoting alternative energy sources.

“I appreciate your attention on this matter and look forward to receiving the requested information in seven days from the date of receipt.

“The requested information should please be submitted in soft copy and 30 sets of hard copy to the clerk of the committee.”

Ad

X whatsapp