Dogara opens probe of Malabu oil deal.. says Nigeria has lost billion in controversial OML 245 deal

Dogara opens probe of Malabu oil deal

.. says Nigeria has lost billion in controversial OML 245 deal


The Speaker  ,House of Representatives ,Yakubu Dogara has opened probe on Malibu oil deal .

According to the Speaker,  it is instructive to note that OPL 245 has a long running history and has been subject of many investigations, hence the need to put a finality to the matter. 

Dogara, who revealed this during a two-day public hearing organized by ad hoc  Committee on Investigation of Alleged Corruption, Malpractices, and Breach of due process in award of oil prospecting license held at the House of Representatives ,National Assembly Complex ,Abuja ,the failure by previous administrations to take necessary steps to resolve the disputes associated with OPL 245, has attracted the searchlight of international anti-corruption and money laundering watchdogs which has portrayed Nigeria as unserious in its fight against corruption.

While explaining that  Oil Prospecting License (OPL) 245 is a potentially lucrative oil block encompassing a massive area of 1,958 square kilometers with two deep water fields estimated to hold about 9.2 billion barrels of crude oil which was  award is shrouded in controversy, he saidb scandals, corruption, and breach of due process  resulted to monumental revenue loss to the country.

 He further explained , “In the face of dwindling revenue of the country, there is the need for the country to intensify efforts to access funds for the finance of its developmental and infrastructural projects.


“This Committee should be guided by the work of its predecessors. Indeed, the 7th House of Representatives made far reaching resolutions on this subject which was not implemented by the Executive. We expect that the anti- corruption stance of the current government of Muhammadu Buhari, GCFR, will lead to a better outcome if the Committee makes similar findings. 

“It should be noted that Public Hearing of this nature is all about information gathering from stakeholders to enable it make informed decisions especially to plug loopholes in existing laws, on any subject. We therefore urge you to be open and forthright in making necessary contributions that will help us properly advice the executive on the subject matter under investigation. ”