Senate Sets Deadline For Finance Minister To Reveal N100 Billion PCNG Expenditure Details

In a bid to address concerns over the handling of funds allocated to the Presidential Compressed Natural Gas (PCNG) projects, allegedly done in breach of the Public Procurement Act 2017, the Senate has taken decisive action, compelling the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, to provide comprehensive documentation within seven days regarding the disbursement of over N100 billion.
The Chairman of the Senate Committee on Gas Resources, Senator Jarigbe Agom Jarigbe, (PDP) Cross River North, stated this via a letter.
The request for detailed expenditure records follows reports of plans by the PCNG to release an additional N130 billion to unspecified companies, raising further alarm about financial transparency and adherence to procurement regulations.
The Senate’s move was prompted by recent revelations and concerns raised by the Good Governance and Transparency Front, a civic group, alleging irregularities in the allocation and disbursement of funds for the PCNG projects.
The group accused the chairman of the PCNG initiative’s steering committee of bypassing due process and the provisions of the Public Procurement Act 2007 in the allocation of funds to favored entities.
The Committee letter reads, ”I am writing to request for comprehensive brief regarding the utilization of the sum of N100 billion allocated by the federal government for the development of gas infrastructure aimed at providing Compressed Natural Gas, CNG, to Nigerians as an alternative to fossil fuels.
“The committee is seeking detailed information on the process followed in the award and disbursement of funds to the companies benefiting from the allocation.
”I would appreciate insight into the compliance of these processes with the provisions of the Public Procurement Act 2007.
”Specifically, the committee is interested in understanding the steps taken in the opening of bids, the qualification criteria applied, and the subsequent award of contracts to the selected companies.
”Transparency and adherence to due process are crucial aspects in ensuring public trust and accountability in such initiatives.
“Kindly provide documentation and details regarding the companies that received funding, outlining the specific projects or initiatives they are undertaking to promote the use of Compressed Natural Gas (CNG) in the country.
“I believe this information will be invaluable for our committee’s oversight responsibilities and contribute to ensuring the success and effectiveness of government ‘s efforts in promoting alternative energy sources.
“I appreciate your attention on this matter and look forward to receiving the requested information in seven days from the date of receipt.
“The requested information should please be submitted in soft copy and 30 sets of hard copy to the clerk of the committee.”
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