…fixes Sept. 10-12 for public hearings
The Senate through its Ad-Hoc Committee on Alleged Economic Sabotage in the Petroleum Industry has set September 10-12, 2024 for its public hearings as part of its task of investigating allegations of economic sabotage in the nation’s petroleum industry.
Senate Leader and Chairman of the Committee, Opeyemi Bamidele, who disclosed this in a press conference in the National Assembly Complex, said the conference was to address allegations of economic sabotage within the petroleum industry, particularly concerning recent accusations related to the importation of petroleum products.
He underscored the Senate’s commitment to investigating these claims, which prompted the formation of a 15-member Ad-Hoc Committee on July 3, 2024.
“The petroleum industry has been a subject of intense public scrutiny. This press conference aims to educate the public on the committee’s mandate, operations, and methodologies,” he said.
The committee was established following extensive debate on a motion by Senator Asuquo Ekpenyong (Cross River South) on July 3, 2024. It was given clear terms of reference, including examining pre-shipment and pre-discharge test parameters, evaluating compliance with the Petroleum Industry Act, and scrutinizing the activities of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and Nigerian National Petroleum Company Limited (NNPCL).
The committee’s terms of reference also involve investigating the state of Nigeria’s 22 depots, engaging with industry stakeholders to identify regulatory gaps, and examining the operations of state-owned refineries. Notably, the committee will assess the importation of adulterated petroleum products and the regulatory lapses that allowed such occurrences.
The Ad-Hoc Committee, inaugurated by Senate President Godswill Akpabio on July 22, 2024, is set to interact with key stakeholders, including the Ministries of Petroleum, Finance, and Trade, NNPCL, Central Bank of Nigeria, NMDPRA, Nigerian Navy, and various petroleum marketers and regulatory bodies.
“We will visit relevant facilities, particularly state-owned refineries, to understand why they are not operational despite significant investment,” said Senator Bamidele.
“Our investigation will hold accountable those responsible for the importation and distribution of substandard petroleum products,” he said.
The lawmaker affirmed that the committee will conduct public hearings from September 10-12, 2024, to engage with key industry actors and gather comprehensive insights.
“These sessions will pave the way for a thorough review of regulatory frameworks and the identification of necessary reforms to ensure fuel quality in Nigeria,” he said.
He assured the public of the committee’s commitment to transparency, fairness, and integrity, stating, “This investigation is not a witch-hunt but a quest for economic justice and national interest.”
He called for full cooperation from all stakeholders to safeguard Nigeria’s energy sector and restore public confidence.
