The minority caucus in the House of Representatives has rejected the $1.5bn approval for rehabilitation of the Port Harcourt refinery, describing the figure as ‘outrageous and heavily inflated’.
The caucus, therefore, demanded an immediate review of the cost.
A statement issued by the Minority Leader of the House, Ndudi Elumelu, said the caucus reached the conclusion after a thorough evaluation of the proposal.
The caucus noted that while it was in support of any genuine effort to bridge energy deficit in Nigeria, such should not be used as a ploy by corrupt individuals to fleece the nation.
The lawmakers urges the Federal Executive Council not to release any funds related to the inflated rehabilitation costs until after the review.
The House had on March 24, 2021, resolved to investigate the fresh $1.5bn recently approved by the Federal Executive Council to rehabilitate the Port Harcourt refinery.
The House would also be probing into the rehabilitation and maintenance exercises on other refineries in the country, which had reportedly gulped billions of dollars.