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    Reps probe Duke Oil over alleged N6trn revenue scam

    The House of RepresentativesBy Umar Muhammad Puma

    The House of Representatives Adhoc Committee Investigating Revenue Leakages in the Department of Petroleum Resources (DPR) said it will investigate Duke Oil over non remittance of over N6trillion revenue.
    Addressing members of the committee on Tuesday, the chairman, Rep Jarigbe Agom Jarigbe (PDP, Cross River), stated that the probe is predicated on the apparent inability of DPR to enforce compliance of remittances into the Consolidated Revenue Fund (CRF).between January, 2016 to 2017
    He said the mandate of the committee is to ascertain the actual quantity of crude lifted by Duke Oil , number of Special Products such as fuel oil (LPFO), Naphtha, condensate, liquid natural gas, pentane plus, liquefied petroleum gas LPG on which they are supposed to pay royalties.
    The committee will also look at the composition of the board of Duke Oil to ascertain who the directors are, why it was registered in Panama while it head office is in the United Kingdom, but does business in Nigeria, nonpayment of taxes to the federal government and why it has not published it audited Accounts since inception.
    “We know royalties are supposed to be paid to DPR but from the information we have, some of these companies are not paying the required royalties and in this period of recession, we cannot allow some few cabals fleet away resources that are supposed to accrue to the consolidated revenue account of the federation”.
    A member of the panel, Rep Olyiwola Kazeem (APC, Ogun) also reminded the panel that issues of revenue leakages have continued to plague the oil sector, adding that “even now, the issue of Oil Mining Lease(OML) has arison where these wells are not relinquished as at when due into the pocket for further re-allocation”.
    On his part, Rep James Faleke (APC, Lagos) said: “If Duke Oil is responsible for lifting our crude, we need to know the volume of crude it has lifted, the meter used in calculating the volume, is it a special meter”?
    “Without these, we cannot ascertain the volume of oil they lifted and they have to avail us this information to enable us establish the true position of things”, Faleke said.
    Chairman Jarigbe added that the panel will leave no stone unturned as it would also scrutinise the stock profile of the Port Harcourt and Warri Refineries with regards to the volume of products they come out with per day.
    He said “while other companies take 32,000 barrels of crude per day, Duke Oil alone takes 90,000 barrels per day and uses other oil firms as third-party traders who pay into offshore accounts belonging to Duke Oil, whereas there are no evidence of them remitting the said funds back to government coffers”.
    “It is this leakage and the whereabouts of these missing funds that we want to unravel”, he said.
    The committee chairman said letters are being dispatched to all affected organisations and industry stakeholders to forward relevant documents and memoranda to aid the investigation.

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