The House of Representatives has accused an energy and gas firm AIETO of
indulging in acts that have the implications of economic sabotage.
This accusation was made today by the adhoc committee on review of pump
price of petrol which during its deliberations stated that AIETO has been
withholding petroleum products it received from Nigeria National Petroleum
Cooperation (NNPC) under the regime of swapped crude oil for Premium Motor
Spirit (PMS) since 2012.
The company was also accused of allegedly diverting foreign exchange it
got from federal government’s special intervention funds for the purchase
of PMS for other purposes except that for which it was meant for.
Chairman of the committee, Mr. Nnana Igbokwe stressed that the action of
AIETO Energy and Gas is unacceptable because it is a clear case of
economic sabotage.
The Managing Director of the company, Micheal Uchegbolam however denied
the accusations maintaining that AIETO has never received FOREX from
Federal Government before.
He was however ordered to reappear before the Committee on April 7 to
reconcile issues with Petroleum Product Marketing Company (PPMC) which
would also appear on the same date on the orders of the Committee.
In a similar development, the committee also adopted a motion putting
Petrol-Cam under inquiry for diversion of 7800 liters of petrol.