By Patrick Eromosele
Having come to power with elegant anti-corruption zest, President Bola Ahmed Tinubu is expected to face his biggest test in the way he fights graft to consolidate his matra of Renewed Hope Agenda.
Meanwhile, listening carefully to debates and counter-debates, one will come to the certain conclusion that Tinubu will face his biggest battle in trying to define how he wants to fight corruption.
Similarly, what may literally pass as Mr. President’s “acid test” would be the investigation as it relates to the disbursement of millions of dollars for the Brass Fertilizer and Petrochemical Company Limited, the Atlantic International Refinery & Petrochemical Limited, as well as the Brass Petroleum Product Terminal Limited, all situated within the precinct of Brass Local Government Area of Bayelsa State, and superintended by the office of the Executive Secretary of the Nigerian Content Development & Monitoring Board (NCDMB).
It is quite commendable, however, to see a former member of the Federal House of Representatives from Bayelsa State, Hon. Isreal Sunny-Goli, filing a petition before the Economic and Financial Crime Commission (EFCC) on this same disturbing and contentious matter that borders on alleged misappropriation, lack of care and erosion of public trust.
Also, the House of Representatives Committee on Local Content, led by Chairman, Boma Goodhead, has launched a probe into the alleged payment of the sum of $35 million with 40 per cent equity, to a company with a registration value of N10 million.
The Committee said that the former management team of the Nigerian Content and Development Monitoring Board, NCDMB, allegedly showed signs of recklessness by investing a total of N14 billion for shares to a company one year after it was registered in 2020.
The former federal parliamentarian, Sunny-Goli, on his part personally submitted a petition on Thursday May 9, 2024, which urged the EFCC to investigate the projects which are all situated within the boundaries of Brass Local Government Area of Bayelsa State.
Sunny-Goli said: “I hereby wish to forward a petition to the Commission for a thorough investigation and possible prosecution as it relates to the disbursement of funds for the Brass Fertilizer and Petrochemical Company Limited, the Atlantic International Refinery & Petrochemical Limited, as well as the Brass Petroleum Product Terminal Limited, all situated within the precinct of Brass Local Government Area of Bayelsa State, during the tenure of the immediate past Executive Secretary of the Nigerian Content Development & Monitoring Board (NCDMB).
In the copy of the petition, made available to newsmen in Yenagoa, Mr. Sunny-Goli pointed out that the Brass Fertilizer and Petrochemical Company Limited, which was a project conceived to establish two (2) trains of 5,000MTPD methanol Plants and One(1) train of 500MMscf per day processing plant and associated infrastructure to be sited in Odiama, Brass Island, Bayelsa State with a total NCDMB equity contribution for this project is $200million.
With an initial payment of $20 million made in May, 2021, and an annual payment of $60 million over the period of three years, he alleged that the NCDMB directors involved were the past operatives of the NCDMB.
“Also the Atlantic International Refinery & Petrochemical Limited: This project was conceived for the establishment of a 2,000bpd Modular Refinery, a jetty facility, and a 2MW power plant in the Brass Free Trade Zone (FTZ), Bayelsa State. Its target completion period was 24 months from the date of financial close. A full investment amount of $35 million was released in one bullet in October 2020… Current status of project: The project has stalled and has little or nothing to show for the disbursement made. Delivery timeline is also uncertain.
“Brass Petroleum Product Terminal Limited: The investment was for the establishment of a 50 million-litre facility with a two-way product jetty, automated storage tanks, and loading bay in Brass, Baylesa State. The project was initially conceived to have the NNPC Limited and the NCDMB as shareholders with the private company, but was curiously financed by the NCDMB alone.
“Current Status of Project: The project for which funds were disbursed in September 2021, has not progressed as expected, and its completion remains not only uncertain, but funding by the other shareholders is also not assured.”
He pointed out to the EFCC that “as can be deduced from the information supplied above, these are well-meaning projects aimed at creating jobs for our teeming unemployed youths, as well as increase the nation’s revenue.
“To ensure our great nation is not short-changed, and our teeming unemployed youths denied gainful employment opportunities in line with the Renewed Hoped agenda of President Bola Tinubu, I hereby request that your commission immediately Institute a thorough investigation into the projects listed above, and prosecute without delay, anyone found culpable in the event of any misappropriation of funds.”
These allegations about the past executives of NCDMB are too weighty, and sadly, it is the Nigerian masses that suffer the consequences of it in a most excruciating and painful manner. Therefore, President Tinubu and his team must be seen to be genuine and deliberate in their commitment and resolve by mapping out strategies that are capable of cutting off the oxygen of corruption, while also bringing to book anyone found culpable of any infractions no matter whose ox is gored, so that the downtrodden can breathe.
President Tinubu does not owe anyone apart from Almighty God his presidency, so he would do well to set a good example.
•Eromosele writes from Port Harcourt, Rivers State.