Details Surface as National Assembly Investigation is Halted by Oil Industry Stakeholders

There are strong indications that major stakeholders are fiercely in opposition to the investigation by the National Assembly into the oil and gas sector.....KINDLY READ THE FULL STORY HERE▶

Sources claim that the stakeholders reportedly scared about the potential exposure of deep-seated issues within the industry, are bent on ensuring the committee does not succeed in its investigation.

The Senate President, Godswill Akpabio, in July, established the 14-member ad-hoc committee, chaired by Senator Opeyemi Bamidele (APC, Ekiti Central), to conduct a thorough investigation into alleged sabotage in the oil sector.

The committee was mandated to examine the pre-shipment and pre-discharge standard test parameters adopted by the Nigerian Midstream and Downstream Regulatory Authority (NMDRA) to uncover loopholes exploited to bring toxic cargoes into the country. They were also to determine the level of compliance of the NNPCL’s Direct Sale and Direct Purchase arrangements with the Petroleum Industry Act, focusing on transparency and accountability.

Additionally, the committee will investigate the activities of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, including payments made to transporters over the last decade. They will also inquire about the status of the 22 depots built by the defunct NNPC to eliminate road distribution of petroleum products.

The committee will engage with stakeholders to identify gaps in regulating and strengthening surveillance and monitoring structures to detect violations of best practices in importing products. Furthermore, they will consult with the NNPCL to understand their determination and timelines for starting up government-funded oil refineries.

Lastly, the committee was mandated to investigate how institutions across the importation and distribution chain failed to conduct quality sampling, audit shipments, and perform port validations, involving agencies like the Nigeria Customs Service, Nigerian Maritime Administration and Safety Agency, Standards Organization of Nigeria, and Nigerian Ports Authority.

Sources reveal that the stakeholders’ opposition began with the House committee responsible for probing the sector, leading to its disbandment and replacement with a joint committee comprising 14 members each from the Senate and House of Representatives.

Despite the committee’s resolve, its progress has been hindered by pressures from stakeholders, resulting in delayed meetings and growing concerns among committee members.

The source said, “The committee members are worried that stakeholders in the oil sector are working round the clock to stop the probe of the sector by the National Assembly’s committee chaired by the Senate leader, Senator Opeyemi Bamidele.

“People are asking why the committee is not working or that it is going to be another one that will start and die naturally?”

Recall that upon resumption from its annual recess, Senator Opeyemi Bamidele reaffirmed the National Assembly’s commitment to addressing challenges in the petroleum industry.

“The industry is not optimal in its performance,” Bamidele stated. “This may not be unconnected to crude oil theft, endless turn-around maintenance of public refineries, importation of substandard petroleum products, and disruption of fuel supply, among others.”