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The Upper Legislative Chamber, has on Tuesday, November 22, summoned a top member in President Muhammadu Buhari’s cabinet, over a recent multi-billion dollar oil deal with India, and China.
The Chamber, in a motion moved by the Lawmaker representing Edo-Central Senatorial District, Senator Clifford Ordia, titled: ‘The Need for a Detailed Explanation of the $15 billion Proposed MoU with Indian Government, and Over $80 billion MoU Signed by Minister of State for Petroleum Resources with Chinese Firms,’‎ observed that outside these (MoU for $80 billion investments), the two largest oil companies in China, Sinopec and CNOOC, signed another investment MoUs with the Minister of State for Petroleum Resources, committing the companies to further investments in Nigeria’s upstream oil sub-sector, to the tune of $20 billion.
Senator Ordia, said the Senate is aware that the Minister of State for Petroleum, negotiated a $15 billion investment with India, where the Indian government would make an upfront payment to Nigeria, for crude oil purchases.

‎“The Senate is further aware that the two countries have agreed to sign an Memorandum of Understanding, to facilitate investments by India, in the Nigerian oil and gas sector, and specifically in areas such as refining, oil and gas marketing, upstream ventures, the development of gas infrastructure, and in the training of oil and gas personnel in Nigeria.
‎“The Senate notes that the Minister of State for Petroleum Resources, also carried out a road show in China, where a Memorandum of Understanding worth over $80 billion, to be spent on investments in oil and gas infrastructure, pipelines, refineries, power, facility refurbishments, and upstream financing spanning five years were signed with Chinese companies,” Senator ‎Ordia said.
‎Based on his submission, the Senate unanimously agreed in a voice vote, to probe the recent oil deals with India, and China, as it ‎mandated its Committees on Petroleum (Upstream), Petroleum (Downstream), Petroleum (Gas), and Foreign Affairs, to summon Kachikwu, to explain the details of the deals.

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