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OVERVIEW OF: Reps to investigate NNPC’s missing 5.2 million barrels of crude oil under DSDP policy
The House of Representatives has resolved to investigate the alleged missing 5.2 million barrels of crude oil.
The alleged missing oil is under the Direct Sales Direct Purchase (DSDP) policy of the Nigerian National Petroleum Corporation, (NNPC).
The DSDP is a policy of the NNPC that gives crude oil to refiners in exchange for distilled products.
On Wednesday, following the adoption of a motion moved by Makki, the lawmakers resolved to investigate the policy from 2018-2021 in a bid to find how the millions of barrels of crude were diverted.
According to the motion by Abubakar Makki, the 5.2 million barrels of crude oil were allocated to the local refineries, however, the NNPC did not get the same product back.
Makki said: “The House needs to investigate 5.2 million barrels supposedly allocated to comatose refineries that were unaccounted for by those in charge.”
Referencing a report in Thisday Newspaper, the lawmaker argued that the House should investigate the status of the capacity of the local refineries to refine the product.
He explained that the House “needs to investigate the rationale for allocating crude to local refineries.”
The Green chamber mandated its committee on petroleum(Downstream) to conduct the investigation.
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