NCDMB’s $500m Investment In Private Entities Not Performing – Lokpobiri

The minister of State, Petroleum Resources (Oil), Heineken Lokpobiri, has insisted that over $500 million of the industry’s funds in equity investments in private establishments and in loans by the Nigerian Content Development Monitoring Board, NCDMB, are not performing.

The minister made the comment at The Petroleum Club’s quarterly event in Lagos
Lokpobiri , while reacting to recent media statements by SIMBI Wabote, former executive secretary of the Board, dismissed as blatant lies claims that his office requested for an increase on NCDMB budget by N30 billion for the office of the Minister.

In a statement signed by special adviser, Media and Communication, minister Of State For Petroleum Resources(Oil), Nneamaka Okafor, the minister noted that ‘’Our position is that he who alleges must prove the same. So, if Mr. Wabote has proof of such a conversation, he is challenged to provide the same.

‘’Secondly the minister has no aide called Blackson. All his aides were duly selected in line with extant laws and have documents to that effect.

According to the statement ‘’The Minister in his capacity as chairman of the Governing Council stands by his statement at The Petroleum Club’s quarterly event in Lagos, and as journalists I welcome you to visit the places mentioned to verify the allegations for yourself.

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‘’Thirdly, the said Atlantic Refinery was supposed to be built in Mr White’s hometown, he should show Nigerians where that refinery is.

‘’Fourthly, the Brass Fertilizer and Petrochemical company was also paid for, you are welcomed to also visit the site to verify the facts for yourself.

The statement noted that Investigations are ongoing and the truth will surely come to light and monies belonging to the generality of Nigerians will be recovered for Nigerians.