House Committee Summons AGIP Over $80 Million Debt to Indigenous Company

The House of Representatives Committee on Public Petition has summoned AGIP Oil Company to appear on June 26 over an alleged $80 million debt owed to De Cooon Services Ltd, an indigenous company.

Rep. Michael Etaba, Chairman of the Committee, expressed dissatisfaction with AGIP’s failure to settle the debt and its absence at the investigative hearing held in Abuja on Thursday. He criticized the practice of neglecting indigenous contractors in favor of foreign ones, calling it detrimental to Nigeria’s business landscape.

“This act is capable of frustrating indigenous contractors. It will not augur well to drive Nigeria out of business while encouraging foreigners,” Etaba stated. He emphasized the need for Nigerians to take their own businesses seriously.

Committee member Rep. Matthew Nwogwu condemned AGIP’s non-appearance as disrespectful. “It’s unfortunate that people who are supposed to be accountable to Nigerians are not. When a committee mandated by the constitution summons an organization and it refuses to appear, it calls for worry,” he said.

Prof. Nelson Onubogu, Managing Director and CEO of De Cooon Services Ltd., asserted that the invitation to the hearing was well-publicized, alleging AGIP intentionally avoided the session. Onubogu claimed that AGIP owes his company over $80 million, paid by NNPCL but diverted out of Nigeria. “AGIP Oil Company used some cronies to take this money out of Nigeria, and they refused to pay the Nigerian company,” he said.

Onubogu accused AGIP of canceling his contracts and reallocating them to his staff. He insisted on full payment of the owed amount and the restoration of his contracts. “I don’t believe in the middle ground; the right thing should be done; they are owing me, and they should pay my money and restore all my contracts as awarded to me,” he declared.

 

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