A coalition of civil society organisations, Civil Society Network Against Corruption (CSNAC), has petitioned the Economic and Financial Crime Commission (EFCC) to investigate the minister of Petroleum, Diezani Alison- Madueke; the Nigerian National Petroleum Corporation; and Shell Petroleum Development Company (SDPC) over a N59 trillion shady oil deal.

Reacting to a story published by the Sun Newspaper about the protest of some leaders of ethnic nationalities from Delta State at the National Assembly over the allegation that the Mrs. Alison-Madueke “secretly transferred production rights in four large oil blocks (OMLs 26, 30, 34, and 42) to Atlantic Energy Drilling Concept Limited (Atlantic Energy) allegedly owned by one Mr. Jide Omokore without a bid”

The story alleged that this was made possible under the guise of a “Strategic Alliance Agreement” that earned the federation account a paltry $50 million as initial entrance fee from Atlantic energy.

According to the petition, if “an open and competitive bidding process mandated by Public Procurement Act had been followed, the market value of the OML 30 assets divested to Atlantic Energy should not be any less than $800 million.”

The Chairman of CSNAC, Lanre Suraju, said corruption and fraud in the oil sector have cost the country greatly in misappropriated revenue.

“The oil industry, especially the Nigerian National Petroleum Corporation has been plagued for years with accusations of corruption and fraudulent dealings. This has led to misappropriation of revenue earned from oil production, consequently leading to under development and wide spread poverty in the nation not to mention injustice to the indigenes of the oil producing communities. The ramification of this can be seen in the rise of militancy in the region to which the government has lost billions of naira in revenue and human lives,” he said.

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