Senate launches probe into private firm’s gas supply contract awarded by FG

The Senate announced on Thursday its decision to initiate a thorough investigation into a gas supply contract agreement that was awarded to a private firm, Acugas Limited, during the tenure of former President Muhammadu Buhari.

The development followed a motion tabled by Aniekan Bassey (PDP, Akwa Ibom) during plenary, which was chaired by Deputy Senate President, Barau Jibrin.

According to Bassey’s motion, the Niger Delta Power Holding Company (NDPHC) entered into an agreement with Acugas Limited in 2017 for the supply of gas to the Calabar Generation Company Limited (Calabar Genco).

Bassey expressed concern over the lack of transparency in the agreement and payment methods for the project, which raised eyebrows among the public.

He emphasized that the gas supply agreement, along with the parties involved, payment details, and the status of the project, should be thoroughly investigated by the Senate’s Committee on Power once it is constituted.

Bassey also requested that the Senate call upon the Office of the Attorney General of the Federation to ensure proper due diligence in the preparation and execution of transaction agreements with companies and stakeholders involved in the gas supply contract.

Deputy Senate President, Jibrin, presiding over the session, granted the motion and approved the mandate for the Senate Committee on Power, once formed, to investigate the gas supply agreement and ensure meticulous examination of the transaction.

However, the Senate unanimously decided against summoning the former Minister of Finance, Budget, and National Planning, Zainab Ahmed, citing that she had acted within her official capacity.

Instead, they recommended inviting the incoming finance minister under the administration of Bola Tinubu, considering that the government operates as a continuum.