Senate gives Total 1 week to provide details of $16bn Egina project

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The Senate yesterday gave Total Upstream Nigeria Limited (TUNL) one week to appear before it and supply detailed information with reference to Nigerian content of its investment in the $16 billion deep sea offshore Egina oil project of which it is currently the major contractor, Vanguard reports.

According to the Senate, TUNL should furnish it with the status of the project, evidences of taxes paid, personnel employed and expatriate quota, qualifications and salaries of local and foreign staff and records of usage of locally fabricated items such as pipes, plastics etc on the project.

The Senate particularly requested TUNL to supply more information on the project in relation to the implementation of Nigerian Local Content Act as well as evidence of over $1 billion taxes allegedly paid as part of an omnibus $4 billion “other expenses” by TUNL.

The Senate Committee on Local Content expressed fears over the likelihood of Nigeria not reaping any real benefit from its investment in the $16billion deep sea offshore Egina oil Project being majorly undertaken by Total Upstream Nigeria Limited (TUNL) and other sub contractors.