Reps to research asserted NAPIMS $260m Oil Contract


The House of Representatives yesterday Feb. 24th coordinated its Committees on Petroleum Upstream and Public Procurement to research an asserted $260 million dollars oil contract honored by the National Petroleum Investment Management Services (NAPIMS), a backup of the Nigerian National Petroleum Corporation, NNPC.

This mandate took after a level headed discussion on a movement raised by Rep. Gabriel Kolawole (Akoko South East/South West Federal Constituency, Ondo State – APC). Hon Kolawole said that NAPIMS, conceded endorsement for Esso Explora­tion, a backup of Exxon Mobile to recompense four single source contracts for tasks in Exxon Mobil's Usan Deep water venture at the aggregate total of $260 mil­lion without a tendering procedure.

Thye further ex­plained that NAPIMS had, through three mem­oranda dated October 13, 2014, February 10, 2015 and April 16, 2015, without any help nomi­nated four organizations to execute the agreements without endorsement from both the Board of the NNPC and its Group Executive Committee (GEC).

The joint advisory groups have been given a time of 4 weeks to examine the matter and report back to the House.

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