Thursday 17 January 2013

House halts NNPC’s $1.5b loan proposal


Speaker-House-of-Representatives-Aminu-Tambuwal-360x225LAWMAKERS told the Nigerian National Petroleum Corporation (NNPC) yesterday to pull the brakes on its plan to obtain a $1.5billon loan.
The oil giant proposes syndicated $1.5billon loan to pay off its debt, according to its officials.
President Goodluck Jonathan is believed to have given his nod for the loan.
House members, who were on recess when news of the proposal was broken, retuned yesterday to mandate its committees to investigate the NNPC’s plan.
The Committee on Petroleum (Downstream), Petroleum (Upstream), Justice and Loans and Debts were requested to investigate the plan.
The lawmakers said details of what the loan was meant for were vague, adding that it has the potential to further plunge the nation into greater indebtedness.
Concerns were also raised by the lawmakers on the decision of the NNPC to swap crude oil as collateral for the loan.
The decision of the House followed the adoption of a motion of urgent public importance raised by Ralphael Igbokwe (PDP, Imo), who observed that the loan was neither included in the 2013-2015 Medium Term Expenditure Framework nor in the 2013 budget.
He said the corporation deliberately ignored relevant sections of the law that require it to present such a financial transaction before the National Assembly.
He said: “Section 44 subsection (2) (a) of the Fiscal Responsibility Act prescribes as a mandatory condition, that government in the Federation and its agencies and corporations desirous of borrowing shall show the existence of prior authorisation in the Appropriation or other Act of Law for purpose for which the borrowing is to be utilised (to the National Assembly).
“Furthermore, sub section (3) of same section 21 (2) mandatorily requires the Minister to cause the budget estimate submitted by the corporation and agencies to be attached as part of the Appropriation Bill to be submitted to the National Assembly”.
The lawmaker said since neither NNPC nor its supervising Ministry of Petroleum felt it was necessary to follow due process, the lawmakers should stop the loan.
After putting the motion to voice vote, Speaker Aminu Tambuwal directed the committees to investigate the matter and report back in two weeks.
Also yesterday, the House passed a vote of confidence on Tambuwal and the leadership of the House.
This followed a motion raised by Ogbuefi Ozongbachi (PDP-Enugu) under matters of privileges.
He drew the attention of members to newspaper reports alleging plots to impeach Tambuwal over the purchase of 400 Camry cars.
He said that the publication was a clear design to create disharmony.
“ If members have grouses, they should be free to come and discuss the matter in the House, instead of taking it to the pages of newspapers.
“We are too mature to be led by reports in the newspapers,’’ he said.
Mr. Rasaq Osagie (ACN- Edo) moved a motion for a vote of confidence on the Speaker, which was unanimously adopted.
Osagie said the House was over-flogging the matter by discussing it on the floor.
Tambuwal said he was disturbed not because he was the speaker, but because members had worked hard to build the reputation of the House.
“We need to be truly committed to do those things that have earned us confidence before Nigerians. I urge us to ignore the publication and take it as one of those things,’’ he said.
He said that the House as an institution would continue to work for the welfare of Nigerians.
The House also mandated some committees to critically investigate the alleged discriminatory policies against women in the public service.
The committees are Women Affairs, Labour, Employment and Productivity and Judiciary. They are expected to report to the House within three weeks.
The resolution followed a motion by Yusuf Tajudeen (PDP-Kogi), which was unanimously adopted without debate when put to vote by the Speaker.
The motion is entitled: “Discriminatory Policies Against Women in the Public Service”.
Tajudeen noted that Section 17(2) of the 1999 Constitution of the Federal Republic of Nigeria (as amended) states that every citizen shall have equality of rights, obligations, as well as opportunities before the law.
He said Section 42 of the 1999 Constitution (as amended) also states that “No Nigerian citizen shall be discriminated against because of a particular sex, religion or ethnic group’’.
He said that Section 42 also guaranteed the right to private and family life.
“Article 18(3) of the African Charter on the People’s Human Rights, which Nigeria is a signatory, to frowns at discriminatory practices on grounds of sex.”
The legislator said that some ministries, departments and agencies of government (MDAs) regulated how women personnel could get married. This, he said, infringed on their individual rights.
He expressed concern that single women in some paramilitary services were not allowed to marry within their places of work.
“Female employees are technically barred from marriage within a time-frame in other public organizations,’’ Tajudeen said.
In another motion, the House urged committees on Environment and Niger Delta Development Commission (NDDC) to investigate the devastating gully erosion threatening to cut off some communities in Obowo and Ehime-Mbano, Imo State.
The motion was sponsored by Chudi Uwazurike (PDP-Imo).
Tambuwal said the House would continue to adopt more practical approaches to fight corruption by carrying out effective oversight functions.
“In this regard, we shall continue to adopt a pragmatic and functional approach to ensure that the war against corruption is removed from the realm of rhetorics.
“This will be achieved by exercising absolute diligence in our oversight functions so as to enhance transparency and accountability.
“We are convinced more than ever before that a situation where majority of the citizens continue to live in abject poverty while an insignificant minority corner the commonwealth is not only unjust but unacceptable, ‘’ he said.
NaijaCenter

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