Nigerian Minister Lokpobiri Denies Allegations of Demanding N30 Billion Budget Inflation from NCDMB

The Nigerian Minister of State for Petroleum Resources, Heineken Lokpobiri, has denied allegations made by former Nigerian Content Development and Monitoring Board (NCDMB) Executive Secretary Simbi Wabote that Lokpobiri demanded a N30 billion budget inflation for the agency. Lokpobiri dismissed Wabote's claim as "blatant lies from the pit of hell" and challenged him to provide proof of any such conversation.

Wabote, who was recently dismissed from his position, accused Lokpobiri of requesting the budget increase through an aide named Blackson in December 2023. Wabote stated that his refusal to comply with this request led to his sudden removal. He further accused the minister of making false claims and engaging in character assassination regarding the performance of the NCDMB's intervention fund managed by the Bank of Industry.

Lokpobiri, in his capacity as chairman of the NCDMB Governing Council, maintained that he has never been part of the budgeting process of any parastatal under the ministry. He also denied having an aide named Blackson, stating that all his aides were duly selected in line with extant laws. The minister's revelations were first made during an investigative hearing of the House of Representatives committee on local content.

Why this matters: The allegations and counter-allegations between the former NCDMB Executive Secretary and the Minister of State for Petroleum Resources raise concerns about transparency and accountability in Nigeria's oil and gas sector. The outcome of the ongoing investigations could have significant implications for the management of the industry's intervention funds and the fight against corruption.

Lokpobiri has accused the past leadership of the NCDMB under Wabote of wasting over $500 million of the industry's funds on equity investments and non-performing loans. He specifically alleged that $35 million was paid for the Brass modular refinery in Bayelsa State "without anything to show for it" and $20 million for a fertilizer factory that has not materialized. Wabote refuted these claims, stating that the NCDMB's projects, partnerships, and intervention funds were driven by the NOGICD Act and government policies. Investigations are ongoing, and Lokpobiri has stated that "the truth will soon be revealed and monies belonging to Nigerians will be recovered."

Key Takeaways

• Lokpobiri denies Wabote's claim of demanding N30B budget inflation for NCDMB.
• Wabote alleges Lokpobiri's aide requested the budget increase, leading to his dismissal.
• Lokpobiri denies involvement in NCDMB's budgeting and having an aide named Blackson.
• Lokpobiri accuses NCDMB under Wabote of wasting over $500M on non-performing investments.
• Ongoing investigations could have significant implications for the oil and gas industry.