A coalition of civil society organisations has called for investigation into the $1.5 billion investment  in Port Harcourt Refinery by the immediate past group chief executive officer of Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari.

The coalition, Situation Room on Transparency and Accountability, led by its convener, Michael Omoba, made the call at a news conference in Abuja on Wednesday.

Mr Omoba said that Nigerians were made to believe that the funds allocated by the Muhammadu Buhari-led administration in 2021 were meant for a comprehensive rehabilitation of two refineries but eas spent only on Port Harcourt refinery.

“The said refinery turned out to be non-functional, failing to meet the least functional or industrial standard that was expected of such an investment.

“Indeed, such fiscal mismanagement would have been the subject of a rigorous criminal investigation involving every national and international party.

“Why was the initial plan of rehabilitating two refineries abandoned without justification? Who are those responsible for this national capture of our resources?” he queried.

According to him, that such a colossal sum was spent with no concrete outcome and accountability says a lot about the Kyari-led administration.

The coalition convener said that the gross mismanagement of funds in the oil and gas sector over the past five years had stifled the country’s economic and infrastructural development.

He also said that it had impoverished citizens who had been making their tax contributions and sabotaged sustainability.

“It is a plain example of what erodes investors’ confidence and invites speculative capital, rather than stable foreign direct investment (FDI).

“This NNPCL revelation reveals an elite syndicate conspiracy against the citizens of this great country.

“It is a betrayal of the Nigerian dream and this economic hemorrhaging must stop.

“In addition to the many atrocious adventures of Kyari’s leadership, the suspension of the Naira-for-crude policy under his tenure was a monumental disservice and disability to our local economy,” he said.

Mr Omoba, therefore, called for an immediate constitution of a special commission of inquiry to investigate the full financial activities of the NNPCL in the last five years under the Kyari’s leadership.

He also called for a forensic audit of all NNPCL financial transactions, adding that those found culpable should be made to face the full weight of the law.

He further recommended a legislative hearing to ensure that the National Assembly maintained the highest transparency standard for the newly-appointed NNPCL board.

 (NAN)