The Senate has berated the Federal Ministry of Trade and Industry for not knowing the quality and quantity of crude oil and gas export on daily basis, hence it has moved to carry out a holistic investigation.
In a bill which was sponsored by Senator Fatima Raji-Rasaki (PDP), Ekiti Central Senatorial District, the Senate wondered that the processes that was exclusively the responsibility of the Federal Ministry of Trade and Industry was left in the hands of expatriates, thus, they do not know the quantity of oil and gas produced daily in Nigeria.
“I observe that the designation, Procurement, measurement, and. calibration of equipment are being handled by expatriates and the equipment used for the measurement are not manufactured I Nigeria,” she said.
She insisted that expatriates were responsible for huge loss of revenues in the oil and gas industry as a result of sharp practices as they would not disclose actual weighs and measures.
In his contribution, Senator Hope Uzodinma advocated that government could procure measurement equipment from anywhere in the world to carry out its activities.
He described as shameful, the manner of fraud in the industry even as a monolithic economy to have allowed expatriates to rip off Nigeria’s economy.
In his remark, Deputy Senate President, Ike Ekweremadu sustained the prayers that Committee on Trade and Industry should investigate and revert in two weeks time to the Senate.
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