By John Alechenu and Oluwole Josiah, Abuja

The Senate, on Monday, began an inquiry into the circumstances, which led to the increase of the contract sum of the Escravos Gas-to-Liquid Project from $1.78bn to $5.9bn.

The Chairman, Senate Committee on Gas, Senator Osita Izunaso, in his opening remarks at the public hearing on the project, said the Senate was worried about the astronomical increase in the project cost.

He said, "This project, the Senate understands, was awarded at a total and turn around key cost of $1.7bn".

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Posted by boyang at October 14, 2008 7:54 AM