Senate summons Kachikwu over multibillion dollars China, India deals

Minister of State for Petroleum Resources, Emmanuel Ibe Kachikwu
Minister of State for Petroleum Resources, Emmanuel Ibe Kachikwu

The Senate has summoned the Minister of State for Petroleum Resources, Ibe Kachikwu, over his claims of multibillion dollars oil and gas deals with India and Chinese firms.

Mr. Kachikwu, in an interview with This Day in June, said Nigeria signed Memorandums of Understanding with several Chinese firms during a road show in the Asian country on “$80 billion new investments, spanning five years, in the oil and gas industry covering pipelines, refineries, gas and power, facility refurbishments and upstream financing.”

He also hinted at new investments worth $20 billion from Sinopec and Chinese National Offshore Oil Company in the Nigeria’s oil and gas sector.

In October, Mr. Kachikwu, through a statement by the Director of Press in the Petroleum Ministry, said Nigeria was set to sign with India an investment deal which would see the Indian make an upfront payment of $15 billion to Nigeria for crude purchases.

But on Tuesday, the Senate resolved the Minister should appear before its committees on petroleum, gas and foreign affairs to explain the terms of the deals and the their implications for the economy.

The Senate’s resolution followed a motion by Clifford Ordia (PDP-Edo).

In his remarks, Senate President Bukola Saraki expressed appreciation to Mr. Kachikwu for his initiatives but emphasised the need for transparency.


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  • Shawn

    what for ? to know the sharing formulae or what ?

    • Victor

      Lolz. They want to know when ebe go land naa. Suffer no dey there DNA. They are desperate to share something, anything.

  • Aminu

    Mr Kachikwu when you appear before the senate remind them it is not cash deal it is inform of investments, constructions and purchases so nothing for their pockets.

    • Rumournaire

      From what I read, the so-called commitment of China and India to invest those billions in Nigeria are actually commitments to pay in advance for crude oil they hope to buy. It is NOT an investment the way we understand it – it is simply paying for crude oil they hope to buy in future. Potentially, it may be creating a problem for the future of the country – collecting money today for oil you hope to produce in future. So the time would come when you would be producing and exporting oil but would not be earning any income That is why what the Senate is asking for is perfectly in order.

  • DanielOsazuwa

    I dey laugh in Japanese: ” I will work with any Leader that the Senate elect”. Baba PMB, how market?

  • tsunami1earthquake

    Continue the carnival down here while your nationals are languishing in Chinese jails; and the Chinese bragging that there’s nothing Nigeria would do to rescue these unfortunate Nigerians! Continue, give the Chinese favourable deals that will encourage them to treat Nigerian citizens like faggots due for conflagration in incinerators.

    Well done, Nigeria!

  • javscong javscong

    Here we go again!! Senate wants to know why it was not part of the arrangement believing that there must have been “kick back” in both deals. Because those senators are all rogues, they can never believe that a Nigerian will cut a deal ONLY in the best interest of the nation. I can see them wanting to scuttle both deals if they can not get involved to negotiate a cut for themselves. What a bunch of very useless nincompoops parading themselves as “legislators”. Well, with indicted criminals like Saraki,etc there, one can not expect any thing better to come out of that “sh*t” chamber.

    • Truth is bitter

      My brother, you are a genius. They want the cash on their tables. Thieves of the millennium contemporary.

  • paul irumundomon

    China and india, will rost nigeria like ripe plantain, they will force you to accept a deal, you would get better with Western countries. The fraud in India and china, is officially coming to Nigeria, 419 class rooms.