Reps probe structure, accountability of NNPC joint venture business
The House of Representatives says it is investigating the structure and accountability of the Joint Venture (JV) business and production sharing contracts of the Nigerian National Petroleum Company (NNPC) Ltd.
Rep Hassan Fulata, the Chairman of the ad hoc committee, on Wednesday said his committee was investigating the Joint Venture Business and Production Contract of the NNPC from 1990 till date.
Fulata said the probe became imperative as some NNPC accounts did not follow due process.
He said his committee had discovered a secret account owned by the NNPC Ltd., alleging that the Federal Government did not follow due process in opening these accounts.
However, Mr Okolieaboh Sylva, the Acting Accountant General of the Federation (AGF), who appeared before the committee on Wednesday in Abuja, denied government’s knowledge of such secret account.
The Office of the AGF, Total Energy, Shell Petroleum Company and Chevron were all present to answer questions.
The committee, however, invited other relevant heads of government and corporate agencies and companies such Seplat Oil and Gas and Newcross Oil and Gas to appear before it on Sept 27.
The lawmakers insisted they must appear in person warning that the National Assembly would not hesitate to invoke the relevant constitutional privilege should any of the heads of the agencies fail to honour its invitation.
The mandate of the committee is to establish whether various joint venture agreements of the NNPC followed due process.
“What does this stand for the country is that it creates a framework within which WIPO and its partners can support the exploitation of the IP to make impact in the lives of IP users.
“Under our medium strategic plan, the five-year vision aimed at supporting IP so that it makes an impact in the lives of ordinary citizens.
“We want to harness the IP potential of youths in the country through the framework of the National IP policy and strategy.
“We are looking at supporting the youth entrepreneurs to understand and appreciate IP system; we want to engage in mentorship and coaching programmes,’’ Asiedu said.
According to her, WIPO also wants to use IP to support the country’s Development Goals.
“Within a framework of the National IP policy and strategy, we are able to identify the comparative advantage that the country has.
“So, the area in which a country has a comparative advantage that is what we dwell to ensure that we undertake projects that make impact in the lives of IP users community.’’
Asiedu added that WIPO intended to extend its reach not only within the legislative framework of the country, but also to knowledge production institutions like universities and research institutions.
“We also want to bring together industry and academia so that we bridge the gap from the time that idea takes off, to when it heads into market place,’’ she said.
Similarly, the delegation was received separately by the Ministers of Science and Technology, Dr Adeleke Mamora, Foreign Affairs, Geoffrey Onyeama and Trade and Investment, Otunba Adebayo Adeniyi.
They pledged to support the adoption and implementation of the National IP policy and strategy, saying that the policy was imperative to the development of all sectors of Nigeria’s economy.
