The lower chamber of the Nigerian National Assembly, The House of Representatives ad hoc committee set up to ascertain the inventory of the defunct NNPC will meet with the management of NNPC Limited and the Central Bank of Nigeria to discuss the transition process.
The committee, chaired by Kingsley Uju (APC, Imo), was set up to ascertain the total inventory, assets, interests and liabilities of the defunct state oil company ahead of the transition.
NNPC assumed the status of a limited liability company after the Petroleum Industry Bill became an Act.
Uju, in a statement released on Thursday, said the committee will meet with the CBN Governor Godwin Emefiele, and the Chief Executive Officer of NNPC limited, Mele Kyari.
In addition, the committee will meet with the Minister of Finance and National Planning, Zainab Ahmed, and the Minister of Petroleum (State), Timipriye Sylva, to interface on the process of the transition.
The ad-hoc committee also resolved to request detailed information on NNPC assets, interests, liabilities and up-to-date audited reports from the CEO of NNPC Limited.
Uju disclosed that the committee has also resolved to request for yearly audited reports of NNPC from Nigeria Extractive Industries Transparency Initiative (NEITI) with a view to juxtaposing the NNPC audited reports with that of NEITI.
“It is also hinged on the provisions of Section 54 of the recently signed Petroleum Industry Act. 2021.
“The legislative intervention is in alliance with section A 1.03 of the introduction part of the Legislative Agenda of the 9th Assembly (2019 – 2023) which states that, ‘the 9th House will seek to undertake reforms of critical sectors of the Nigerian society and economy with a view to improving the conditions that allow for investment, innovation and economic growth,” he said.
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