The Senate has committed itself to uncovering and holding accountable any individuals or organisations involved in economic sabotage within the Nigerian petroleum industry.
Led by Opeyemi Bamidele, the Senate Leader and Chairman of the Senate Ad-Hoc Committee investigating this matter, the Senate aims to address serious issues that threaten the country’s economic prosperity, fiscal stability, and public health.
In the pursuit of its mandate, the committee will thoroughly investigate the roots of economic sabotage in the petroleum industry and make recommendations to promote global best practices and attract more investments, particularly in the midstream and downstream sectors. This national assignment will be carried out with impartiality and a focus on protecting the strategic national interests of Nigeria.
The committee’s investigation will encompass various aspects, including the examination of pre-shipment and pre-discharge test parameters employed by the Nigerian Midstream and Downstream Regulatory Authority. The goal is to identify any loopholes that may be exploited to import toxic petroleum products into the country. Additionally, the committee will assess the compliance of the Nigerian National Petroleum Corporation Limited’s direct sale and direct purchase arrangements with the provisions of the Petroleum Industry Act (PIA).
The activities of the Nigerian Midstream and Downstream Petroleum Regulatory Authority will also be scrutinised, with a particular focus on payments made to transporters over the past decade. The committee will inquire about the status of the 22 depots built by the defunct NNPC to eliminate the road distribution of petroleum products. Furthermore, stakeholders within the oil and gas industry will be engaged to identify areas for improvement in the regulation and strengthening of surveillance and monitoring structures to detect violations of best practice standards in product importation.
The committee will engage with the NNPC to understand the progress and timelines for the operation of government-funded oil refineries. It will investigate the failures of institutions involved in the importation and distribution chain, such as the lack of quality sampling and auditing of shipped products.
It is important to note that the Senate has formed this committee not to intimidate or witch-hunt any party but to ensure social and economic justice in light of the challenges faced by the nation. The committee will conduct its investigation diligently and with integrity, dedicated to safeguarding the interests of all Nigerians and restoring confidence in the energy sector.
The cooperation of all relevant stakeholders is crucial, and the committee appeals for their full support. Together, we can prevent such incidents from recurring and maintain the integrity of the fuel supply chain. Public hearings will be held from September 10th to 12th, allowing concerned stakeholders to reveal those responsible for illegally importing hazardous and substandard petroleum products into Nigeria.
Bamidele acknowledges that Nigeria is suffering due to the actions of saboteurs but assures the nation that this committee will not follow the path of previous efforts.
The 9th Senate successfully passed the Petroleum Industry Act (PIA) after unsuccessful attempts by previous assemblies, and the 10th Senate is determined to put an end to sabotage in the petroleum industry through the work of this Ad-hoc committee.
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