The Senate Committee on Gas in Nigeria is set to initiate an investigative hearing on the disbursement of the N130.8 billion Nigeria Gas Expansion Programme (NGEP) intervention fund. As part of the inquiry, the committee has summoned the Government of Delta State and 14 other engineering, oil, and gas companies. The companies, which received funds from the intervention, are required to appear with progress reports, detailing the location and current status of their projects.
The Central Bank of Nigeria (CBN) disbursed the intervention fund, and the companies listed, along with the Delta State Government, received varying amounts.
The CBN emphasized that the intervention is a loan, and beneficiaries are expected to repay the funds. The investigative hearing aims to scrutinize the disbursement and utilization of the NGEP intervention funds.
