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Tagging their move as another avenue to cash out from the nation’s resources after possibly wasting time on the exercise, civil society organisations, oil and gas experts as well as legal practitioners yesterday, said the move by the Senate to recover the alleged over N11.3 trillion spent on the nation’s moribund refineries as Turn Around Maintenance (TAM) will remain an effort in futility.
Casting a vote-of-no-confidence on the Senate, the stakeholders said previous lawmakers both at the upper and lower chambers had since Nigeria returned to democracy, done same exercise only to get their own cut from the national oil company while spending the nation’s resources and time on investigations that would not achieve desired results.
The Senate last week, said N11.35 trillion was spent on turn around maintenance and another N1.6 trillion loss was incurred on the moribund assets which is managed by Nigerian National Petroleum Company Limited and have since been shut down while Nigeria spends billions of dollars importing white products amidst a bleeding economy.
