A former lawmaker, Israel Sunny-Goli, has asked the Economic and Financial Crimes Commission to look into a multi-million-naira investment made by the Nigerian Content Development Monitoring Board.
Sunny-Goli, who previously represented Nembe/Brass Federal Constituency, wants a detailed examination and potential legal action concerning the allocation of funds for the Brass Fertilizer and Petrochemical Limited, the Atlantic International Refinery and Petrochemical Limited, and the Brass Petroleum Product Terminal Limited.
He stated that all the investments in projects located in Brass Local Government Area were carried out during the tenure of the immediate past Executive Secretary of the NCDMB, Simbi Wabote.
This follows a dispute between the Minister of Petroleum Resources, Heineken Lokpobiri, and Wabote over NCDMB investments during the latter’s tenure.
Lokpobiri accused NCDMB of investing large sums of money in non-existent projects in Brass Island, while Wabote claimed that the projects were stalled due to legal issues involving the investors of Atlantic Refinery.
Lokpobiri suggested that Wabote would be investigated in some countries, implying that Sunny-Goli’s petition may be adding pressure on the EFCC to look into the investments.
According to Sunny-Goli, NCDMB allocated a total equity of $200 million for the Brass Fertilizer and Petrochemical Limited to establish two 5,000MTPD methanol plants, one 500Mscf per day processing plant, and related infrastructure in Odioma on Brass Island in Bayelsa State.
For the Atlantic Refinery project, he mentioned that a full investment of $35 million was made for a 2,000 bdp modular refinery, a jetty facility, and a 2MW power plant with a 24-month completion period at the Brass Free Trade Zone (FTZ).
NCDMB’s investment in the Brass Petroleum Product Terminal Limited was intended to set up a 50 million-litre facility with a two-way product jetty, automated storage tanks, and a loading bay.
Sunny-Goli expressed disappointment with the current status of the three projects, stating that they had become uncertain and gloomy.
He highlighted that the projects could create employment opportunities for unemployed youths and boost government revenue.
“To make sure our country is not cheated and our unemployed youths are provided with meaningful jobs in line with President Ahmed Bola Tinubu's Renewed Hope Agenda, I request that your commission promptly investigate the listed projects and prosecute anyone found responsible for misusing funds,” the petition read in part.
