Nigerian Senate to probe oil contracts
Nigeria Shell_bonga-vessel
The upper house set up a committee to “report to the Senate the anomalies in the ongoing lease renewal process and identify appropriate measures to correct the said anomalies,” according to Reuters.
A motion in the chamber alleged the ministry was granting illegal discounts. “The ongoing lease renewal process is capable of denying government revenue in excess of USD 10 billion as a result of illegal discounts and rebates in the process of lease renewal,” it read.
Earlier in the month, the Nigerian House voted to investigate alleged payment shortfalls from the Nigerian National Petroleum Corporation.
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