The Senate on Tuesday made a significant decision to empower its Committee on Downstream Petroleum to undertake a comprehensive investigation into all contracts awarded for the refurbishment of state-owned refineries from 2010 to 2023.
The aim is to root out corruption and mismanagement, as well as to monitor the progress of ongoing rehabilitation efforts. Additionally, the Senate intends to summon key governmental bodies, such as the Federal Ministry of Petroleum Resources, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Nigerian National Petroleum Company Limited (NNPCL), and the Bureau of Public Enterprises (BPE), to deliberate on strategies for commercializing or enhancing the profitability of these state-owned refineries.
Expressing deep concern, the Senate expressed its dissatisfaction with what it perceives as deliberate hindrances to the Federal Government’s endeavors in reviving the nation’s refineries. This comes in light of an alarming figure of N11.35 trillion spent on maintaining these largely non-functional refineries.
In a related development, the Senate has raised an urgent call for security agencies to conduct a thorough investigation into the circumstances surrounding the recent Otukpo bank robbery.
The heinous attack, which occurred on Friday, October 20, resulted in the tragic loss of at least eight lives, including four police officers. The Senate, led by Senator Abba Moro (PDP, Benue South), not only demanded an inquiry into the security lapses that enabled the attack but also observed a moment of silence in honor of the victims.
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Furthermore, the Senate has highlighted the need to address the country’s preparedness for renewable energy sources in line with the Paris Agreement on Climate Change, calling upon relevant authorities such as the NNPCL, NUPRC, and LNG to shed light on Nigeria’s plan for adopting green energy solutions.
