Tag: Reps

The House of Representatives has commenced investigations into the alleged non-repatriation of Nigeria’s crude oil export proceeds estimated at over $850 billion between 1996 and 2014.

Chairman of the House Ad-Hoc Committee on Pre-Shipment Inspection of Exports and Non-Repatriation of Crude Oil Proceeds, Hon ‘Seyi Sowunmi, disclosed this on Wednesday during the Committee’s inaugural press briefing at the National Assembly, Abuja.

He said recent allegations suggest a significant breakdown in compliance with the Pre-shipment Inspection of Exports Act, with operators in the oil and gas sector reportedly failing to repatriate between 40 and 45 per cent of Nigeria’s crude oil export proceeds, contrary to the law, which mandates full repatriation of export earnings within 90 days for oil exports and 180 days for non-oil exports.

Sowunmi also expressed concern over the “worrisome disparity” in export-earnings data reported by government agencies such as the Central Bank of Nigeria (CBN), Department of Petroleum Resources (now NUPRC), Nigerian National Petroleum Corporation (NNPC), and the National Bureau of Statistics (NBS), as well as inconsistencies between Nigerian data and that of international bodies like OPEC.

He added that non-oil exports, especially those involving solid minerals and other commodities, have also been marked by “high non-compliant export earnings reports.”

According to him, the Pre-shipment Inspection of Exports Act (CAP P26, Laws of the Federation of Nigeria, 2004) established the Nigerian Export Supervision Scheme (NESS) to prevent capital flight, ensure accurate export valuation, and safeguard Nigeria’s foreign exchange earnings. Before the Act was enacted in 1996, he said, the country suffered from “endemic leakages in the form of under-valuation, delayed invoicing, price manipulation, illegal swaps, and deliberate over-loading.”

The Committee, he explained, will probe the exact volume and value of unrepatriated export proceeds from oil, gas, and non-oil sectors since 1996, determine why government agencies produce conflicting export data, and engage experts for a forensic reconciliation of export-proceeds accounts. It will also investigate the management and utilization of funds under the NESS.

“This Committee will be guided strictly by evidence, not speculation. Our work will be document-based, data-driven, transparent, and verifiable,” Sowunmi said. “Our aim is simple: Nigeria must receive, in full and promptly, every dollar legally due from its exports.”

He assured that the House of Representatives, under the leadership of Speaker Rt. Hon. Tajudeen Abbas is fully committed to supporting President Bola Tinubu’s Renewed Hope Agenda by plugging revenue leakages and recovering lost funds for the Federation Account.

Sowunmi further announced the Committee will actively utilise existing whistleblowing channels, promising confidentiality and possible financial rewards for individuals who provide credible information.

“The Committee will actively utilize existing whistleblowing channels, guaranteeing confidentiality and possible rewards for credible information from industry staff, inspection agents, bankers, and concerned citizens,” he stated, adding that this step was crucial to encourage transparency and expose fraudulent practices within the export value chain.

He called for the cooperation of all stakeholders—including oil operators, regulators, financial institutions, and exporters, emphasizing that the investigation is a “whole-of-system exercise.”

“Operators must supply shipment-to-receipt trails; regulators must reconcile production, certification, and FX returns; and financial institutions must provide account-level evidence of repatriation within time. Where breaches are discovered, appropriate civil and criminal sanctions shall be applied,” he warned.

Sowunmi described the Committee’s task as non-partisan, stressing that it is aimed purely at safeguarding the nation’s economic integrity.

“Our measure of success is not publicity, but verifiable financial recovery to the Federation Account,” he said. “This inquiry is non-partisan; it is about protecting and strengthening our economy in the interest of our great nation, Nigeria.”

He acknowledged the crucial role of the media in the Committee’s work, urging journalists to ensure accurate, evidence-based reporting and to avoid speculation. The Committee, he said, would provide periodic factual updates and publish non-sensitive documents when necessary.

“Members of the press are critical partners in ensuring accurate, evidence-based reporting. We urge the media to focus on verifiable progress and avoid premature figures that could mislead the public,” he said.

Sowunmi called for collective support from Nigerians, emphasizing that transparency and accountability are central to the Committee’s work.

House of Representatives has asked Edo and Delta state governments to expedite action in resolving the dispute between boundary communities in the two states, which has created tension in the area, through dialogue and mutual understanding.

It directed its committees on Special Duties and National Security and Intelligence to investigate the allegations of attacks on some of the communities in Edo State by suspected thugs.

In a resolution following a motion of urgent public importance by Billy Osawaru (APC, Edo State), the House asked relevant security agencies, including Nigeria Police Force, Nigerian Army and National Intelligence Agency (NIA) to take immediate action to restore peace and protect the lives and property of the affected communities.

Leading a debate on the motion, the Edo lawmaker said the people of Iguelgba, Oben, Ikobi and Obazogbe-N’ugu communities of Orhionmwon Local Government had lived in peace within the oil exploration area of Orhionmwon Councils without fear, harassment and crises of any kind and had shared common boundaries with Delta State, particularly at Mosogar axis of the state.

He said since 1991 when the boundaries between Edo and Delta states were created and explicitly defined, the indigenes of both communities/states along the boundary had  lived in peace. 

He said: “Recent developments occasioned by the people of Mosogar and Delta State in general have left the people of Iguelgba, Oben, Ikobi and Obazogbe-N’ugu communities in Orhionmwon Local Government Area of Edo State in great dismay and disbelief.”

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He expressed concern that there had been an unwarranted and unprovoked incursion on the communities, leading to tension between the communities and having the potential to escalate into a full-blown interstate crisis, thereby threatening the peace and stability of the country.

He said: ‘’These unjustified incursion and attack by hoodlums are allegedly being done under the authorities of some prominent leaders in Delta State.

‘’If serious action is not taken to stop these incursion and attack coming from Mosogar people, it may snowball into full-scale interstate crisis, which will in turn threaten the peace and stability of the country in general.’’   

The House of Representatives on Wednesday resolved to investigate why the government-funded modular refinery in Brass, Bayelsa state, has failed to commence despite an investment of about 35 million dollars in the project.

This followed a motion of urgent public importance sponsored by Billy Osawaru (APC, Edo), alleging that despite the investment, there is nothing on the ground to suggest that the government has made such a huge investment.

In view of the motion, the House directed its committee on Downstream and Midstream to investigate the circumstances surrounding these huge financial commitments to the tune of $35m, with nothing on the ground to suggest such a huge investment.

Leading the debate on the motion, Osawaru argued that an increased revenue base for the nation reduces the pressure on the foreign exchange regime and lowers the debt burden, especially as it relates to budget financing.

According to him, it was in the light of the above that the Buhari administration graciously embarked on the need to encourage the funding of modular refineries in the Niger Delta region.

He maintained that under President Bola Ahmed Tinubu’s Renewed Hope Agenda, indigenous refining has been identified as a key driver of energy independence, job creation, and industrial revitalization.

He said the key objective of the present administration is to ensure energy security through improved oil production output in order to increase the Nation’s revenue base, and that every available opportunity has been geared towards this objective.

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He explained that sometime in 2020, the Nigerian Content Development and Monitoring Board (NCDMB) invested the sum of Thirty-Five Million Dollars ($35 million) in Atlantic International Refinery and Petrochemical Limited – a modular refinery to be located in Brass, Bayelsa State.

He expressed concern that despite this huge investment of $35 million dollars which is more than N50 billion and enough to fund fundamental components of the national budget, the proposed modular refinery was never set up, adding that there is nothing on the ground to show that such a huge financial commitment had been made.

He disclosed that despite the move by the House to unravel the mystery behind this wastage by mandating its relevant committee to investigate the monumental economic sabotage, nothing has been heard in respect of the subject matter.

He said, “In May 2024, a stakeholder submitted a petition to the Economic and Financial Crimes Commission (EFCC) urging the anti-graft organization to probe the multi-million dollar investments made by the Nigerian Content Development and Monitoring Board (NCDMB) among which was the Atlantic Refinery project; and that despite this noble move by the said stakeholder, nothing has been heard about this profound national waste almost a year ago”.

He said the continued inactivity of this Brass modular refinery project raises significant questions about the management of public funds and the effectiveness of oversight mechanisms in Nigeria.

The House of Representatives has called on the Federal Ministry of Marine and Blue Economy, the Nigerian Ports Authority (NPA), the Nigerian Maritime Administration and Safety Agency (NIMASA), and other relevant government agencies to collaborate with the Akwa Ibom State Government for the establishment and realization of the Ibom Deep Seaport project.

The resolution followed a motion sponsored by Hon. Unyime Idem (APC, Akwa Ibom) and nine other lawmakers.

The House also directed its relevant committees to visit the project site and submit recommendations to support its execution.

Idem noted that marine trade and the blue economy are key drivers of global growth, offering vast opportunities for sustainable economic development, job creation, and improved livelihoods.

He lamented that Akwa Ibom’s ocean resources remain largely underutilized, resulting in lost foreign direct investments and missed economic opportunities.

Citing a 2022 United Nations Conference on Trade and Development (UNCTAD) report, Idem revealed that infrastructure deficiencies in Nigerian ports have reduced the country’s export capacity by up to 40%.

He added that the NPA had projected the Ibom Deep Seaport to attract over 5.6 billion dollars in investment, stressing that its completion would boost industrialization, create jobs, strengthen value chains, and advance export processing initiatives.

According to him, Akwa Ibom’s strategic coastal location on the Atlantic Ocean positions it as a key hub for export-driven growth, supported by abundant natural and agricultural resources such as cocoa, palm oil, cassava, rubber, fish, crude oil, and limestone.

He warned that the Niger Delta loses about 1.2 billion dollars annually to port inefficiencies, as highlighted by a 2020 Nigerian Economic Summit Group (NESG) report.

Idem emphasised that Nigeria’s blue economy currently contributes about 2% to GDP, but with President Bola Tinubu’s vision to raise it to between 5% and 10%, the Ibom Deep Seaport could be a major catalyst.

He also noted that Nigeria’s port infrastructure, currently handling 1.7 trillion TEUs, is overstretched, causing congestion, shipment delays, and higher business costs that weaken export competitiveness.

Highlighting the African Continental Free Trade Area (AfCFTA) as a transformative opportunity, Idem quoted President Tinubu’s remarks at the WAES 2025 and ECOWAS Summits: “AfCFTA is Nigeria’s runway to industrial transformation. We must break the barriers that have made us a nation of traders, not manufacturers. Our borders must become bridges, not bottlenecks.”

The lawmaker said that establishing the Ibom Deep Seaport through a strong federal–state partnership would expand haulage networks, enhance export capacity, attract foreign investments, and significantly boost Nigeria’s GDP.