Leke Baiyewu, AbujaThe Senate Ad Hoc Committee on Investigation of the Local Content Elements and Cost Variations of the $16bn Egina Offshore Oil Project has ordered that the accounts of the project be audited. The committee said the audit was to ensure that Nigeria was not trapped in perpetual debt without any benefits from the project. The project, which commenced in 2013 and is being undertaken by Total Upstream Nigeria Limited, is almost 90 per cent completed. He said the investigation would also show the level of compliance with the local content and other applicable laws in the industry. The lawmaker also asked the Nigerian Content Development and Monitoring Board to provide all relevant local content approvals it had granted the Egina project, including expatriate quota, trainings and related local content matters.

Source: Punch January 23, 2018 23:37 UTC