Yemisi Izuora
The management of Capital Oil and Gas whose chairman, Ifeanyi Uba has been detained for illegal alleged petroleum product sale belonging to the Nigerian National Petroleum Corporation, NNPC, has claimed that the Corporation is indeed indebted to the company.
The company in a statement in Lagos decried the incarceration of their Chairman by DSS declaring it unlawful, and disregard for the rule of law and a breach on Ubah’s fundamental right to liberty, freedom of movement and association.
On the claim that the company sold NNPC products in its care, the statement said, “For the avoidance of doubt and to put the records straight, NNPC owes Capital Oil & Gas Industries Limited over N16 billion represented as follows:
$5,540,000 (N2.2billion) – unpaid berthing fees for NNPC vessels that called at our Jetty.
$2,952,555 (N1billion) -invoice for chartered vessels to carryout STS operations Lagos offshore to ferry product (PMS) to storage at the request of NNPC since 2015.
The company further claimed that NNPC owes the firm about N1.170billion for throughput services from March to October 2016 and a N3.146billion: payment made to NNPC for 26,820m litres of PMS vide Pro-forma Invoice No. 53598 which is yet to be delivered to the company.
“There is also a N2.0billion- Payment to NNPC in April to facilitate the release of the Managing Director and engender reconciliation which NNPC reneged on as well as N6.266billion- N0.80k and N0.40 Jetty Throughput charge on over 7 billion liters dispensed for NNPC by us” the statement claimed.
According to the statement, On economic sabotage, it is unimaginable that a company which has stood by NNPC and by extension the country at very critical petroleum supply crises can now be accused of engaging in activities to undermine the effective distribution of petroleum products across the country having thwarted a nationwide industrial action called by oil marketers during the epic inauguration of President Muhammadu Buhari.
We wish to reiterate that Capital Oil and Gas Industries Limited is committed to serving the nation to the best of its capacity and ability.