The House of Representatives on Thursday set up a panel to investigate the proposed sale of Niger Delta Power Holding Company by the Federal Government to fund the 2021 budget insisting the move should be halted immediately.
The House in plenary declared that the company is owned by the three tiers of government making it absolutely impossible for the FG to unilaterally sell it without due diligence.
The House in a motion promoted by Hon Olusola Steve Fatoba entitled ‘ Need to investigate Proposed Sale of Niger Delta Power Holding Company’ which was brought under matters of national importance.
Fatoba in his submission argued that the said company belongs to the Federal Government, States and Local Government and they were not consulted before the proposed sale.
Citing the various provisions in the 1999 constitution (as amended) that selling such a company to fund the 2021 budget without adequate consultation with all the owners makes the sale of the company a nullity.
He prayed the House to mandate the committee on Power to investigate the matter and report back to the House within four weeks.