P&ID FALLOUT: AGF Setup Committee to Review MoUs, Ensure Transparency in Gas Projects
The Attorney General of the Federation (AGF) and Minister of Justice, Lateef Fagbemi (SAN), has inaugurated a committee to audit agreements or Memorandums of Understanding (MoU) on Accelerated Gas Development Projects (AGDPs).
The move is part of efforts at preventing a repeat of the nation’s most unpleasant experience in the P&ID case which originated from one of such AGDPs.
A statement by the Special Assistant to the President on Communication & Publicity, Office of the Attorney General of the Federation & Minister of Justice, Mr Kamarudeen Ogundele noted that the committee is chaired by Mr Olasupo Shasore (SAN).
Other members of the committee are: Mrs. Folashade Alli (SAN); Mr. Tolu Obamuroh, Olaniwun Ajayi – represented by Muyiwa Balogun; General Counsel & Company Secretary, NNPC; Secretary & Legal Adviser of NUPRC; Director, Civil Litigation and Public Law of the ministry, Mrs Memuna Shiru and Director, Solicitors Department, Mrs Gladys Odegbaru.
“The Committee will keenly review the AGDP agreements with a view to ensuring avoidance of potential landmines or other forms of liability and achieving a final closure against predatory investors.
“The committee’s assignment will also proper legal and commercial guidance that will enable the government effectively harness the nation’s huge gas resources in line with the Nigerian Gas Master Plan to promote domestic gas revolution,” the statement said.
The committee has a timeline of three months to deliver on its mandate.
The statement also disclosed that the AGF had earlier inaugurated a committee for the review of Bilateral Investment Treaties and Nigerian Investment Promotion Commission Act.
It stated that the inauguration of the committees marked a new chapter in efforts to promote Nigeria’s economic prosperity, strengthen international partnerships, and remove all potential avenues of liability from moribund or non-performing agreements.
According to Ogundele, the government by the review exercise was taking a proactive step to ensure that the nation remains competitive and attractive to global investors and is not a haven for unscrupulous and predatory investors.
The minister appreciated members for accepting to serve on the committees despite their busy schedules and commitments to other interests.
He added: “I thank you for your much anticipated sacrifice and contributions to the socio-economic and legal development of our dear nation. I encourage the two committees to work diligently and collaboratively to achieve the set objectives.”
Responding on behalf of the committee, Shashore who noted that the task was onerous, promised that members will discharge their duties with patriotism.
