The Joint Committee on Petroleum Resources and Gas of the National Assembly says the Presidential Compressed Natural Gas Initiative, P-CNGI, cannot account for the N500 billion approved for palliatives for the CNG advancement.
At a budget defence meeting with the Ministers of State, Petroleum Resources and Gas, the legislators insist the activities of the Presidential Committee are shrouded in secrecy.
After last week’s summon, the two Ministers are before the joint committee of the National Assembly.
Lead Chairman of the Joint Committee, Jarigbe Jarigbe, gives an opening remarks.
He accuses the Steering Committee on Presidential CNG Initiative of leaving the National Assembly and the Ministers in the dark of its activities.
The Minister of State, Petroleum Resources, Heneiken Lokpobiri, presents the Ministry’s N9.64 billion 2024 budget estimates to the lawmakers.
But the legislators became furious with the size of the Ministry’s budget.
They say the N5.8 billion for capital budget for a Ministry crucial to achieving the Natural Gas Revolution Policy is grossly inadequate.
Issues of climate change, environmental degradation, crude oil production, IOCs threat and plight of host communities are some of their concerns.
But the Ministers insist the Bola Tinubu government is on the right track, particularly having jerked the Ministry’s budget from less than N2 billion to about N10 billion.
They say fossil fuel is not going away anytime soon.
In another Conference room, the House Committee on Science Engineering, at its inaugural sitting, promises to support scientific research to catalyse Nigeria’s economic development.