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Lawmakers probe NCDMB over $35m refinery, summon officials

The House of Representatives Committee on Nigerian Content Development and Monitoring Board (NCDMB) has commenced investigation into $35 million investment in Atlantic International Refinery and…

The House of Representatives Committee on Nigerian Content Development and Monitoring Board (NCDMB) has commenced investigation into $35 million investment in Atlantic International Refinery and Petrochemical Limited (AIRPL) and some other projects executed by the board.

In a circular dated February 20, 2024, signed by the clerk of the committee, Mrs Kehinde Bolade Olaiya, sighted in Yenagoa, the committee summoned key staff of the board, including directors and demanded some vital documents for investigative hearing.

Among the documents demanded by the lawmakers are those from the commercial ventures department, strategy and transformational projects department, project certification and approval department, finance and human resources departments.

Already, the Executive Secretary of the NCDMB, Engr Felix Ogbe, has assured the lawmakers that he will provide the requested documents and lead the affected officials to the investigative hearing.

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The circular revealed that the lawmakers are also probing the board’s budgetary allocations for personnel and human resources, activities of the Commercial Ventures Department, Project Certification and Authorisation Directorate (PCAD), BOI loans and many other actions of the Local Content Management Board.

The board had in June 2020 invested $35 million in Atlantic International Refinery and Petrochemical Limited (AIRPL), a modular refinery to be located in Bayelsa, with beneficial ownership linked to Admantine Petrochemical and others.

 

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