Yemisi Izuora
Femi Falana, SAN, has sent a letter to the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, seeking explanations on the loss of $60 billion oil revenue which the Nigerian government had refused to collect from the international oil companies as at August 2017.
Falana, in the letter dated April 10, 2019 said he recalled that in his letter dated 5 November, 2015 and addressed to Kachikwu, in his capacity then as the Group Managing Director of the Nigeria National Petroleum Corporation, NNPC, he drew the attention of the minister to the refusal of regulatory agencies in the Ministry of Petroleum Resources to enforce the production sharing contracts signed by the International Oil Companies.
He explained that in a public statement credited to Kachikwu in August 2017, he did disclose to the media that Nigeria had lost not less than $60 billion due to the refusal of some public officials to implement the terms of the Production Sharing Contracts between the Federal Government and the International Oil Companies.
“In another public statement made on January 19, 2019 by the Acting Chairman of the Revenue, Mobilisation, Allocation and Fiscal Commission, Mr. Shetima Bana confirmed the loss of oil revenue of $60 billion arising from the non-implementation of the said production sharing contracts.
“In view of the foregoing, I am compelled to request you to furnish me with information on the revenue of $60 billion which the Federal Government has refused to collect from the International Oil Companies as at August 2017. As this request is made pursuant to section in the provision of the Freedom of Information Act, you are required to supply the requested information not later than 7 days from the date of the receipt of this letter,” he said.
Falana added that if the minister failed or refused to accede to his request, he shall be compelled to apply to the Federal High Court to direct him to avail him with the information on the loss of the oil revenue of $60 billion.