The Minister of State for Petroleum, Lokpobiri has described as baseless the allegation by Mr. Wabote that he padded the ministry’s budget to the tune of N30 billion.
Recall that there has been an allegation of budget padding against the Minister by the former NCDMB boss, Wabote.
Wabote had said his problem with the Minister started in December 2023. When he turned down a request through one of the Minister’s aide, named Blackson.
He alleged that the Minister had requested him to increase the agency’s budget by N30 billion.
However, the Minister has denied the allegation of budget padding request.
According to him, “Our position is that he who alleges must prove same. So, if Mr. Wabote has proof of such conversation, he should provide it.
“Also, the Minister has no aide called Blackson. All his aides were duly selected in line with extant laws and have documents to that effect. In his capacity as Chairman of the Governing Council, he stands by his statement at the Petroleum Club’s quarterly event in Lagos
“The said Atlantic refinery was supposed to be built in Mr. Wabote’s home town. So, he should show Nigerians where that refinery is. Also, the Brass refinery was paid for and you are welcome to visit the site. And to verify the facts for yourself. Investigations are ongoing and monies belonging to Nigerians will be recovered for Nigerians.’’
But in his reactions, the erstwhile NCDMB Executive Secretary said it is false for Lokpobiri to assert that 90 per cent of the NC intervention fund managed by BoI is not performing.
‘‘He was fully briefed that it is because NCDMB is not a bank that made us partner with BoI as a foremost development bank in the country. To manage the intervention fund for the oil and gas industry with each loan secured by Bank guarantee,” Wabote said.
He added that as at December 2023, the NC intervention funds managed by BoI helped cushion the effects of the COVID-19. And that the fund has yielded millions from the low interest rates with the principal fully secured.
source: The Sun
