REPS C’TTEE Queries $10.7bn Gas-To-Liquids Project - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Publisher (F.BA)
October 5, 2022
The committee said the project which should cost 2.9 billion dollars was quoted as 10.7 billion dollars.
The committee on the Joint Venture of the NNPC limited raised concerns when the management of Chevron Nigeria Limited appeared before the lawmakers in Abuja.
Chairman of the committee, Hassan Fulata demanded for explanation and the reasons behind the review of the cost of the project from 2.9 billion dollars to 10.7 billion dollars, noting that a similar project was executed in Qatar for less than 2.5 billion dollars within a very short period.
Responding, Chevron’s Director of Joint Venture, Monday Ovuede told the committee that several factors caused the upward review of the cost of the project from the initial 2.9 billion dollars to 10.7 billion dollars.