Finance Minister Faces Probe: Senate Demands Full Disclosure On N100bn Gas Ventures

Eko Hot Blog reports that the Senate Committee on Gas has given the Minister of Finance, Wale Edun, a seven-day ultimatum to furnish detailed information on the award and disbursement of over N100bn to companies involved in the Presidential Compressed Natural Gas (CNG) projects.

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Allegations of a breach of the Public Procurement Act 2017 have prompted this move by lawmakers.

The committee expressed concern over a potential additional release of N130bn by the Presidential Compressed Natural Gas Initiative (PCNG) to unspecified companies, warning against extra-budgetary expenditure without National Assembly approval.

This ultimatum follows a fresh petition from the “Good Governance and Transparency Front,” accusing the Chairman of the Steering Committee of the Presidential CNG Initiative of irregularly approving fund disbursements without due process.

Despite the disbursed N100bn, the group alleges minimal progress in the PCNG Initiative, citing a lack of engagement with gas development experts in project execution.

Committee Chairman Jarigbe Agom stressed the need for transparency and due process, emphasizing that the committee’s oversight responsibilities include scrutinizing fund utilization and ensuring the success of government efforts in promoting alternative energy sources.

In a letter dated January 9, made public on Wednesday, the committee requested comprehensive records from the Minister of Finance regarding the award and disbursement of the allocated funds.

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

Details on the awarding process, qualification criteria, and adherence to the Public Procurement Act 2007 are sought.

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The urgency of the matter is underscored by the committee’s expectation of a response within seven days from the date of receipt.

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