Key highlights:
- Minister says Nigeria did not lose over 2.4 billion dollars in revenue from the alleged illegal sale of 48 million barrels to China.
- The Individuals have attempted to defraud the Federal Government under the guise that the alleged crude oil stolen in China has been recovered.
- He added that the allegation is unfounded and lacks merit and indeed substance.
The Nigerian Government did not lose over 2.4 billion dollars in revenue from the alleged illegal sale of 48 million barrels of crude oil exported in 2015 to China.
Nigeria’s Minister of Justice and Attorney General of the Federation (AGF) Abubakar Malami disclosed this in Abuja on Thursday at the hearing of Reps ad-hoc Committee investigating the alleged sale of 48 million barrels of crude oil amounting to over 2.4 billion dollars and crude oil export to global destinations from 2014 to date.
In a report by the News Agency of Nigeria, the Minister said the claims were baseless and lacked merit.
Oil Sales
The Justice Minister stated that the office of the AGF had filed a criminal suit against the individuals who purportedly raised the allegations being investigated by the Ad-hoc Committee, adding that Nigeria did not lose the sum of $2.4 billion from the alleged illegal sale of 48 million barrels of crude oil exported in 2015 to China, the report added:
- “The house had in December 2022, resolved to constitute an ad-hoc committee to probe the allegation when it adopted a motion sponsored by Rep. Isiaka Ibrahim from Ogun, at plenary.
- .” According to him, the Individuals have attempted to defraud the Federal Government under the guise that the alleged crude oil stolen in China has been recovered.
Investigation
He also noted that the ongoing investigation initiated by the house was unconstitutional, adding that the prosecution of the petitioners which started in 2019 suffered a setback as a result of a series of adjournments caused by the absence of the accused persons.
The Minister also added that the allegations were devoid of any reasonable ground, citing provocations enough to invoke the constitutional oversight of the committee.
- “Let me state on record and for the benefit of Nigerians and the committee that the allegations relating to the 48 million barrels are baseless. The allegation is unfounded. It lacks merit and indeed substance.
- “The allegation in its own right is devoid of any reasonable ground pointing to a material suspicion cogent enough to invoke the constitutional oversight of the committee.
- “In 2016, allegations were rife and hyped in the social media. There were allegations of the existence of stolen 48 million barrels of Nigerian crude in China said to have been valued at 2.4 billion dollars.”
Backstory
Nairametrics had previously reported that the Federal House of Representatives on Tuesday, April 11, began a three-day investigative hearing of the alleged illegal sale of 48 million barrels of crude oil, valued at $2.4 billion.
The House of Representatives Ad Hoc Committee on Oil Theft has invited several high-ranking officials in the Federal Government over its investigation into the alleged loss of $2.4 billion in revenue from the illegal crude oil sale in 2015.