The Senate on Wednesday began to investigate the $3 billion dredging of Calabar Channel, Lagos Channel and Bony Channel supervised by the Nigeria Port Authority.
The Senate accused the NPA of conniving with Lagos Channel Management Limited, Bonny Channel Company Limited and Calabar Channel Management Company Limited to defraud Nigeria.
Leading the debate on the motion, Senate Ovie Omo-Agege expressed dissatisfaction with what he termed the financial recklessness and economic waste by NPA under its joint venture with the channels managers.
Omo-Agege said though the venture ought to be a Public Private Partnership to reduce the financial burden on the Federal Government, the NPA has expended over $1 billion and $2 billion respectively on the LCM and BCM from 2015 till date, while significant dredging is yet to commence on Calabar Channel.
He lamented that in the 2017 budget, the LCM and BCM demanded for N23 billion and N20 billion for the projects.
He demanded that the Senate Committee on Marine Transport investigates the dredging activities.
This was unanimously approved by the Senate.
The committee was given one week to submit its report.
Senate begins probe of NPA over $3b dredging of Calabar, Bony, Lagos channels
