Senate Commends Ikpea, Says No Infractions in N250bn Gas Fund Probe

Emmanuel Addeh in Abuja

The Nigerian Senate has written the Managing Director and Chief Executive Officer of Lee Engineering & Construction Limited, Dr Leemon Ikpea, intimating him of the findings of its investigative committee on the federal government’s N250 billion gas expansion programme.

In a letter signed by the Chairman, Senate Committee on Gas, Senator Agom Jarigbe, who headed the panel to oversee how the Central Bank of Nigeria (CBN) intervention fund was disbursed and spent, the Upper Chamber noted that no infraction was found.

Dated December 5, the senate through the letter of commendation lauded Ikpea’s strides in the oil and gas industry, especially in his employment of over 4,000 Nigerians in his companies.

“The senate committee on gas writes to commend you on your activities in the oil and gas sector in Nigeria.

“The committee’s investigation revealed that you have invested hugely in the oil and gas industry, with a staff strength of over 4,000 employees. We found no infractions associated with your company.

“The committee commends you for your patriotism and pledges to support you in adding value and creating wealth for the nation. Accept the assurances of the committee’s highest regards,” the Jarigbe-led panel stated.

Recently the senate announced that it had opened an investigation into the disbursement of the N250 billion intervention fund to 14 companies by the CBN for a gas expansion programme in 2020.

The federal government had in December 2020 rolled out the National Gas Expansion Programme (NGEP) aimed at deepening the use of natural gas and making it a preferred, cleaner and cheaper source of energy.

However, the lawmakers said they were worried about the state of the gas projects and thereafter invited the beneficiaries after resolving to pay a fact-finding visit to all the companies that  said they effectively utilised the funds.

Legal Adviser to one of the beneficiaries, Lee Engineering and Construction Company, Mathew Agbadon had told the committee that the project was 90 per cent ready and would be ready for inauguration by Q1 of 2024.

“There has been a fundamental misconception out there in the public domain that some people just leverage on the CBN money, stole it and went away. That is far from the truth.

“This particular project is one of the outfits of Lee Engineering and it is located in  Warri, Delta State. If the committee is ready to visit the project today, we are ready for it. It is 90 per cent completed.

“It is billed for commissioning in the first quarter of next year. In fact, we are looking forward to President Bola Tinubu to commission the project, being the first of its kind in this part of the world,” the company’s representative said.