The Nigerian Senate has resolved to summon the Nigerian National Petroleum Company Limited (NNPCL) as well as representatives of the federal government to explain the paucity of funds to explore and develop new frontier acreages.
Chairman of the Senate Committee on Gas, Jarigbe Jarigbe, who made this known on Friday during an interaction with journalists after a closed-door session with the Chief Executive Officer of Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, and his team, said the Committee will also look into the possibility of auctioning some gas fields.
“We received briefing from the CEO of NUPRC and his team on the activities of the agency. Section 9 subsections 4 and 5 provide that the NUPRC should have a Frontier Acreages Escrow Account for the exploration and development of frontier acreages and that fund is subject to the approval of the National Assembly,” the Senator said.
