Economic Sabotage: Senate Postpones Public Hearing For Wider Consultation, Exigencies

The Senate has deferred its investigation into the alleged sabotage in the petroleum industry, citing the need for wider consultations with stakeholders whose input and participation will add value to the conclusion of the investigative hearing.

The upper chamber, also, cited legislative exigencies aimed at further deepening due diligence in the conduct of the investigative hearing as another reason for postponing the hearing.

The Leader of the Senate and Chairman, Senate Ad-hoc Committee to Investigate Alleged Economic Sabotage in the Nigerian Petroleum Industry, Senator Opeyemi Bamidele gave these reasons in a statement on Sunday.

The senate had set up the ad-hoc committee to investigate billions spent on maintaining the nation’s refineries; beam searchlight on the regulatory agencies over payment to transporters and unravel alleged importation of hazardous petroleum products and dumping of substandard diesel into the country.
The ad-hoc committee had concluded its pre-investigation undertakings and held an interactive session with the heads of ministries, departments and agencies (MDAs) as well as some private interests in the downstream and midstream petroleum sector.

After the exhaustive engagement with select MDAs and private oil firms, the ad-hoc committee had subsequently scheduled its investigative hearing for Tuesday, 10th to Thursday, 12th September 2024
In his statement on Sunday, however, Bamidele explained the decision of the ad-hoc committee to postpone the investigative hearing after due consultation with all its members and key actors in the petroleum industry.

He, further, noted that the ad-hoc committee would communicate a new date for the conduct of the investigative hearing to all the stakeholders in due course.
Explaining the compelling reasons for the deferment, Bamidele noted that the decision for the postponement was taken in the best interest of the federation and its teeming population.

He further explained that the postponement became imperative considering the compelling need “to consult more widely with expanded stakeholders within and without the petroleum industry and legislative exigencies to further deepen due diligence in the conduct of the investigative hearing “
He also added that the prevailing realities in the country that demanded urgent interventions of nearly all the stakeholders in the public and private sectors across 36 states of the federation and Federal Capital Territory informed the resolve for the postponement.

Bamidele said: “While we deeply regret all inconveniences it may have caused all the stakeholders collectively or individually, this decision was taken purely and solely in the national interest.”
He explained that each of these decisions was taken to enable the ad-hoc committee the holistic approach to the public hearing and find lasting solutions to the challenges confronting the petroleum sector of the economy.

Bamidele, therefore, assured all the stakeholders that a new date for the public hearing would be communicated to them in due course.