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  • Senate, House of Reps deny fixing own salaries

    Senate, House of Reps deny fixing own salaries

    • Olugbon to Obasanjo: stop lecturing Nigerians on corruption, leadership

    The Senate and the House of Representatives yesterday denied fixing the salaries of their members, contrary to some reports.

    Former President Olusegun Obasanjo recently accused Federal lawmakers of unconstitutionally deciding their emoluments at the country’s expense.

    But in separate statements yesterday in Abuja, the Chairman of the Senate Committee on Media and Public Affairs, Adeyemi Adaramodu, and the Deputy Spokesman of the House of Representatives, Philip Agbese, said neither both chambers of the National Assembly nor its management fixed the salaries of lawmakers.

    Adaramodu said: “The Nigerian Senate is petrified by the tattling story of determining its own salaries and receiving a special fiscal package from the Presidency.

    “This sordid and telltale assertion was amplified during a visit of a group of House of Representatives members to the former President Olusegun Obasanjo.

    “To straighten the records, the Senate receives only the salary allocated constitutionally by the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC).

    “We challenge anyone who is privileged, either in qualified or absolute position, to bring forth any contrary fact.

    Read Also: Price cut, more trips on Lagos Blue Rail Line

    “The senators or the National Assembly does not and cannot fix their salaries. Any suggestions contrary is uncharitable and satanic.

    “It’s only an attempt to crucify the legislature by the centurions of political hypocrisy.

    “It’s pertinent to inform the unsuspecting public that no senator has received any monetary patronage from the Presidency.

    “The mischievously touted constituency projects are not for the legislators. They are only suggested and nominated by the legislators in accordance with the practice in other democracies worldwide while the executive arm awards the contracts to qualified contractors and ensures the implementation of the projects through its respective ministries and agencies.

    “And the amount varies, depending on the number of constituencies in each state of the federation. It’s merely a contribution to the Federal budget to ensure that every nook and cranny of Nigeria feels Federal presence.

    “We are actually in a season of political pontificating when irreverent scaremongering takes prominence.

    “The 10th Senate is a responsible and responsive chamber, hence would not do anything that can harm the economy and growth of Nigeria. It thus receives only what the relevant agency of government constitutionally allocates to it, and would never solicit for extra ludicrous perks from the other arms of government.”

    Also, Agbese said the former President was using the past to pass judgment on the present.

    “As a parliament, we have strived to maintain the highest level of accountability and transparency in all that we do.

    “The very respected former President is reacting because of the things that transpired between him and the National Assembly during his time as President.

    “This is no longer the case, as quite a lot has been done by the current leadership of the House of Representatives to deliver purposeful leadership to the Nigerian masses,” he said.

    The deputy spokesman explained that the current House of Representatives under the leadership of Speaker Tajudeen Abass was concerned about the welfare of Nigerians.

    “In the 10th House of Representatives, we mean everything we say and do for the Nigerian people.

    “The era of narrow interest is over. We are here for our people and their collective interests,” Agbese said.

    On the allegation that President Tinubu gave N100 million and N200 million to members of the National Assembly, Agbese said such a thing did not happen.

    He said President Tinubu was getting the support of the National Assembly through effective diplomacy and consultation.

    Also, the Olugbon of Orile-Igbon, Oba Francis Alao, has urged former President Olusegun Obasanjo to stop giving unsolicited advice to Nigerians, especially on corruption and leadership.

    He said the ex-President’s utterances showed that he was grandstanding.

    Last week, the former President said most political leaders in Nigeria today are corrupt and should be behind bars.

    He said this while hosting some members of the House of Representatives who visited him at his library in Abeokuta, the Ogun State.

    But in a statement yesterday, Oba Alao, who is also the Vice Chairman of Oyo State Council of Obas and Chiefs, said: “I align with the elder statesman’s position, but he should also lead by example by submitting himself for incarceration as a leader of this generation of the so-called corrupt people. There is no way he can exclude himself.

    “For instance, during his tenure as president of Nigeria from 1999 to 2007, Chief Obasanjo’s administration spent billions of U.S dollar to fix the country’s power supply challenges. Yet, there is nothing to show for it…

    “So, excluding himself from those he described as corrupt leaders is nothing but grandstanding since Chief Obasanjo cannot wash his hands clean of all activities that brought Nigeria to this undesirable state. Doing so will amount to the pot calling the kettle black…”

    “Chief Obasanjo should stop parading himself all over the world as a saint when he is one of the leaders that steered the ship of Nigeria since 1976 till date. He is inclusive of the 90 per cent of Nigerian leaders that should be in prison for corruption.

    “Let him go and surrender himself before the Economic and Financial Crimes Commission (EFCC) as an example. Nigerians should be watchful of Chief Obasanjo…”

  • Senate denies fixing own salaries

    Senate denies fixing own salaries

    The Senate on Sunday, August 11, denied fixing its own salaries contrary to recent media reports.

    Former President Olusegun Obasanjo had recently accused federal lawmakers of acting unconstitutionally by deciding their own emoluments at the country’s expense.

    But the Chairman, Senate Committee on Media and Public Affairs, Senator Adeyemi Adaramodu in a statement on Sunday, said neither the Senate nor the the National Assembly fixes their salaries

    He said that any suggestion

    contrary was “uncharitable and satanic.”

    Adaramodu said: “The Nigerian Senate is petrified by the tattling story of determining its own salaries and receiving a special fiscal package from the Presidency.

    “This sordid and telltale assertion was amplified during a visit of a group of House of Representatives members to the former President Olusegun Obasanjo.

    “To straighten the records, the Senate receives only the salary allocated constitutionally by the Revenue Mobilisation Fiscal Allocation Commission.

    “We challenge anyone who is privileged, either in qualified or absolute position to bring forth any contrary fact.

    “The Senators or the National Assembly do not and cannot fix their salaries. Any suggestions contrary is uncharitable and satanic.

    “It’s only an attempt to crucify the legislature by the centurions of political hypocrisy.

    Read Also: Ihonvbare-led Reps committee to team up with Senate in oil sector investigation

    “It’s pertinent to inform the unsuspecting public that no Senator has received any monetary patronage from the Presidency.

    “The mischievously touted consistency projects are not for the legislators. They are only suggested and nominated by the Legislators in accordance with the practice in other Democracies worldwide while the executive arm awards the contracts to qualified contractors and ensures the implementation of the projects through its respective Ministries and agencies.

    “And the amount varies depending on the number of constituencies in each state of the federation. It’s merely a contribution to the Federal budget to ensure that every nook and cranny of Nigeria feels Federal presence.

    “We are actually in a season of political pontificating when irreverent scaremongering takes prominence.

    “The 10th Senate is a responsible and responsive chamber, hence would not do anything that can harm the economy and growth of Nigeria, it thus receives only what the relevant agency of government constitutionally allocates to it. And would never solicit for extra ludicrous perks from the other arms of government.”

  • Senate queries $5.1b spent on Port Harcourt Refinery overhaul

    Senate queries $5.1b spent on Port Harcourt Refinery overhaul

    Amid allegations of sabotage in the petroleum industry, the Senate is querying the over $1.5 billion approved in 2021 for the turn-around maintenance of the Port Harcourt Refinery with little or no result.

    The ad-hoc committee investigating the sabotage, led by Senate Leader Opeyemi Bamidele, held a session yesterday with stakeholders.

    The session was attended by Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun; Group Managing Director, Nigerian National Petroleum Corporation Limited (NNPCL) Mele Kyari; Chief Executive, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe and Chief Executive Office, Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed, among others.

    Bamidele faulted the dysfunctionality of government-owned refineries despite billions of dollars invested in their turn-around maintenance.

    He said: “Under different administrations since 1999, the Federal Government has invested billions of dollars to maintain and turn around state-owned refineries in Kaduna, Port Harcourt and Warri. But the refineries are not functioning.

    “In 2021 specifically, the Federal Executive Council approved $1.5 billion for the turn-around maintenance of the Port Harcourt Refinery. Yet, this investment has not yielded significant returns.

    “For us in the Senate, we believe it is unfair and unpatriotic to treat government businesses or public corporations as an orphan while private businesses are flourishing and thriving.”

    To nip these challenges in the bud, Bamidele said a joint committee of the National Assembly will investigate the allegations.

    He insisted there would be no grandstanding during the investigative hearing, and promised that the committee would carry out its mandate fairly and impartially.

    “From our findings, we will craft a legislative framework that will entrench global best practices in the industry; open it up for more investments, especially in the midstream and downstream sectors, and end vicious regimes of subterfuge in the petroleum industry,” Bamidele added.

    Kyari said NNPCL should be counted out of any act of sabotage.

    “We are faithful, loyal and committed to the greatness of this country.

    “We are not criminals, thieves or saboteurs as being alleged through wrong narratives.

    “The NNPCL under our management and by operational guidelines or relevant provisions of PIA and CAMA, is today a profit making company after about 43 years of losses.

    “From 1.4 million barrels it was months back, production level has increased to 1.65 million barrels per day and will soon hit the expected two million barrels per day.

    Read Also: Protest turns violent in Port Harcourt

    “There is nothing for NNPCL to sabotage because we are out to maximise value and profit for the country.

    “We are not against any domestic refinery because the laws are clear as far as processes and procedures are concerned.

    “As requested by the Minister of State for Petroleum, the planned public hearing should be televised live for Nigerians to know the truth,” he said.

    Minister of State for Petroleum Resources (Oil) Heineken Lokpobiri, said a lot of misinformation was already in the public on roles played by his ministry and other agencies in making it inclusive for interested investors.

    The planned public hearing by the committee, he noted, would help Nigerians know the truth about happenings in the sector.

    He said: “Please do us a favour by televising the planned investigative hearing on the alleged economic sabotage in the petroleum industry live.”

    Ahmed said a lot of negative stories and narratives have been written and published against NMDPRA.

    He said the agency has not had the opportunity to tell its side of the story.

    “Gratifyingly, the planned public hearing will give us the appropriate platform of laying our facts bare to Nigerians so they know who the saboteurs are.

    “The investigation should be public and televised live,” he said.

    Edun: govt targetting 2 billion barrels per day

    Edun said the government was targeting two billion barrels of crude oil production per day to gain more foreign exchange.

    He noted that an increase in crude oil would stabilise the country’s foreign exchange market.

    The finance minister was confident in the committee’s ability to conduct an unbiased and impartial investigation.

    He said: “In the 2024 budget, we have estimated and projected 1.7 billion barrels per day.

    “We are below that target. Crude oil production is moving up. I believe that we have the expansion.

    “We are up 1.6 billion barrels per day and we have this commitment that we will be able to reach two billion barrels per day.

    “And that is critical because that is the first source of foreign exchange as well as foreign revenue.

    “At a time where President Bola Tinubu’s policies are geared at stabilising the economy, a critical aspect of that is the inflow of foreign exchange to stabilise the exchange rate, enable it to appreciate, thereby helping to reduce inflation.

    “This will then lead to the Central Bank and monetary authorities being in a position to lower interest rates and thus encourage investment to get the economy going…”

    Dangote: we source 60 per cent of crude from NNPCL

    Dangote Refinery said 60 per cent of its crude is sourced from the NNPCL.

    In his presentation, Group Chief Strategy Officer of Dangote Refinery, Aliyu Sulaiman, said of the five million litres of crude they got recently, 60 per cent was from NNPCL, 20 per cent imported and 20 per cent purchased.

    He hailed the NNPCL for making the huge supply to Dangote but said the refinery is a baby that should be supported by all relevant stakeholders to grow and not die.DAPMAN chief warns against monopoly in petroleum sector

    National Chairman of the Depot and Petroleum Marketers Association of Nigeria (DAPMAN), Abdulkabir Aliyu, warned against monopoly in the petroleum sector.

    He said Dangote Group declared N133 billion profit from Sugar sales in Nigeria within the last six months.

    This, he said, was possible because Dangote monopolised the Sugar business in Nigeria.

    The Petroleum sector, Aliyu added, should not be monopolised by any person or company ‘because monopoly kills business’, he said.

    National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Alhaji Abubakar Shettima, advised the committee against allowing monopoly in the petroleum sector.

    “The current value chain in the downstream should be sustained to allow other investors to participate.

  • Presidential directive and Senate oversight in the oil sector

    Presidential directive and Senate oversight in the oil sector

    • By Eseme Eyiboh

    Section 88 of the 1999 Nigerian Constitution, as amended, empowers the Legislature to conduct investigations into the matters which it has the power to make Laws on, and the conduct of any person or Ministry charged with certain responsibilities.

    Known as Oversight, it is a legislative creature created by the constitution to re-tool the role of checks and balances in a democracy.

    Through this means, the Legislature is able to review and evaluate projects and programmes implemented by the Executive and Judiciary arms of government in accordance with the appropriated revenue to enhance accountability.

    However, the recent visit by the leadership of the 10th Senate, led by the President of the Senate, Senator Godswill Obot Akpabio CON, to the $20 billion Dangote Petroleum Refinery and Petrochemicals at  Ibeju-Lekki in Lagos State, has expanded the jurisprudence of oversight responsibility beyond government owned enterprises and re-defined the scope of oversight function.

     The tour of the facility has an enormous socio-economic significance, coming at a time when Nigerians are facing an unprecedented economic hardship, associated with the withdrawal of the Petroleum subsidy.

    The on-the-spot facility visit to the privately owned venture is not only seen as part of the legislative interventions in the recurring challenges in the nation’s oil industry, but has also gone beyond a mere jamboree exercise, to a more people-focused and result oriented constitutional assignment.

    The Parliamentarians spent hours inspecting the refinery located at Ibeju-Lekki in Lagos, on a land area of approximately 2,635 hectares.  The project is the World’s largest Single-Train 650,000 barrels per day Petroleum Refinery with 900,000 tones Polypropylene Plant.

    The facility, funded by Nigeria’s industrialist and Africa’s richest man, Aliko Dangote, is expected to turn Nigeria, which is currently depending on imports, into a net exporter of petroleum products.

    The success story of the Dangote Refinery is a proof that with diligence, dedication and commitment as well as an enabling environment, Nigeria can become a global investment hub. It is also a challenge to successive governments in Nigeria that a privately owned refinery can succeed in the same country where four government owned refineries, 2 in Port Harcourt, 1 each in Warri and Kaduna, are not functioning.

     The role of refineries in socio-economic development of any oil producing country cannot be over-emphasized. They refine crude into petroleum products for use to enhance land, air and Marine transport logistics, heating, road infrastructure, generation of electricity and feed stocks for making chemicals.

    It is a sad commentary that Nigeria, with its huge crude deposits, cannot boast of functional refineries, but still depends on fuel imports. The visit of the Lawmakers therefore, enabled them to see things for themselves and also raise questions on why other giant and lofty government projects in Nigeria have either met their untimely death or are performing below installed capacity.

    Such projects include the multi-billion Naira Ajaokuta Steel Company, in Kogi State, the Ikot Abasi Aluminium Smelter Plant, the Sunshine Battery Company, the Oku Iboku Paper Mill, all in Akwa Ibom State.

    By embarking on the facility visit, the Legislators not only took the Parliament to the people, it also obtained first-hand information on factors militating against Nigeria’s industrialization efforts, which will put it in a better position to enact laws that will support government’s policy on Ease- of- Doing Business in Nigeria.

    Section 4 [2] of the 1999 Constitution, as amended, empowers the National Assembly to make laws for peace, order and good governance of the Federation or any part thereof with respect to any matter included in the Exclusive Legislative List.

    Read Also: Why I named medical hostels after ex-Ekiti deputy governors, by Senate leader

    The aftermath of the visit to the Dangote Refinery and Petro-Chemical Company triggered a series of allegations and concerns in the management of the Nation’s hydrocarbon resources and its assets.

    Unarguably, the oversight visit of the leadership of the Senate to the Dangote Refinery occasioned the recent inauguration by the Leadership of the Senate of its AdHoc Committee to investigate the activities in the oil and gas sector, and recommend legislative actions.

    Furthermore, the innovative reforms in the oversight responsibility by the Senate also accounted for the Presidential directives to NNPCL to sell crude oil to Local Refineries in local currency of Naira.

    Arising from the knowledge gained from the visit, the Lawmakers are now better informed to take an overview of Tax Incentives Schemes in Nigeria, for a possible review in such a way that will encourage the growth of local businesses and attract Foreign Direct Investments into the country.

    Excitingly, the President of the Senate, Senator Godswill Akpabio CON, succinctly captured this when he said during the visit that the Legislature would not hesitate to enact laws to enhance tax waivers, where necessary, for genuine investors in Nigeria.

    Such tax waivers will lead to improvement in job creation, transformative fulfillment of local demands and the generation of export earnings. The Senators’ visit to the refinery and their pronouncements thereof, have given the needed assurance and confidence to private investors that the present administration is prepared to create the enabling environment for their businesses to grow. 

    Before the Senate delegation departed the complex, Senator Akpabio inaugurated the Dangote Sino truck CKD West Africa Limited, another gigantic project, which has already provided employment opportunities for the teeming population of the Nigerian youths.

     Indeed, the visit of the Senate Leadership to the Dangote Petroleum Refinery and Petrochemicals, a privately owned business concerns, has underscored the determination of the 10th National Assembly, under the chairmanship of Senator Akpabio, to key into the Renewed Hope Agenda of President Bola Tinubu’s administration, and come out with effective legislative interventions on the various socio-economic challenges currently facing the Nation.

    As the nation grapples with the challenges of soaring cost of living, insecurity, unemployment, the accrued benefits of the Senate’s intervention and Presidential directives shall very soon, usher a regime of drastic reduction in the prices of petroleum products and general cost of goods and services.

    • Eyiboh is the Special Adviser, Media and Publicity to the President of the Senate
  • Senate urges Nigerians to shelve planned protest

    Senate urges Nigerians to shelve planned protest

    The Senate on Wednesday, urged Nigerians and promoters of the nationwide protests to shelve their plans in the interest of the nation.

    President of the Senate, Godswill Akpabio, made the call during plenary after a closed-door session of the senators in Abuja.

    Various groups in the country are planning to stage a nationwide protest from Aug. 1 to Aug. 10 against President Bola Tinubu government following alleged rise in cost of goods and services, poverty and hunger in the country.

    Akpabio said: “The Senate in a closed-session deliberated on issues bothering on its workings in particular and the National Assembly in general.

    “The senate particularly reviewed the current situation as regards the impending protest slated for Aug. 1 and accordingly urges that one year is not long enough to judge the present government.

    “One year is not long enough for the policies being implemented by the current administration of President Bola Tinubu to yield the desired results.

    Read Also: JUST IN: Senate to protesters: give Tinubu more time for policies to yield results

    “The Senate urges the protesters to give the government more time to address their demands considering the measures being put in place to ameliorate the situation in the country.”

    Akpabio identified the measures to include: the signing of the National Minimum Wage Act, the sale of crude oil to local refiners in Naira, and the implementation of Students Loan Act.

    Others, he said, are the assent recently granted to the South-East and  North-West Development Commissions bills passed by the National Assembly to further address developments at the grassroots.

    He said that the Senate was willing to legislate on all matters that would bring about succuor to Nigerians in general.

    (NAN)

  • Senate, SEC, others seek strategies on unclaimed dividends

    Senate, SEC, others seek strategies on unclaimed dividends

    The Senate Committee on Capital Market, Security and Exchange Commission (SEC) and stakeholders in the capital market on Monday said they would collaborate to evolve strategies to reclaim unclaimed dividends in the country.

    The agreement was reached at a one-day public hearing organised by the Senate panel to find a lasting solution to the issue.

    Apart from suggesting a further amendment to the Finance Act, stakeholders at the session, emphasized the need for proper sensitization about the activities of SEC.

    They urged SEC to use modern technology to identify owners of the unclaimed dividends and come up with a comprehensive data.

    All the participants also agreed that the Director General of the SEC, Dr. Emomotimi Agama, should forward to the Senate Committee, necessary strategies on how to reclaim unclaimed dividends in the Debt Management Office within the next six months.

    The DMO, according to the stakeholders, had no business keeping the 10 per cent of the fund, as currently provided for in the Finance Act.

    Declaring the event open, Senate President Godswill Akpabio said the session was organised to identify the root causes of unclaimed dividends funds and to chart a path forward that would empower investors, protect their interest and unleash the full potential of the capital market.

    The Chairman of the Senate Committee, Senator Osita Izunaso, said necessary legislation was needed to instill confidence in the capital market.

    He said: “The most important thing is, what are the major takeaways of this summit? Somebody said here, and I concur with that person completely, that capital market is something that involves trust.

    “Once that trust is eroded, people will not want to invest again and you know since the crash of the capital market since 2018 today, a lot of people still don’t have confidence in the capital market.

    “So, it is our responsibility, it is our collective responsibility to make sure that this confidence is built back. Whether you are a stakeholder, whether you are in the parliament, whether you are a shareholder, whoever you are, make sure that this confidence comes back.

    “The declared dividend alone for five years is N5 trillion. So, which means it’s an average of one trillion a year. So, you can say that it is N1 trillion annually.

    Read Also: NCC stops telecom service providers from barring phone lines

    “So, if dividend alone can be N1 trillion, then the stock market is not doing badly. But you can see that if it is promoted further, we’re going to make more money from that exercise.”

    He, therefore, urged the SEC DG to redouble his efforts to identify owners of unclaimed dividends through massive enlightenment activities.

    Izunaso said: “A lot is on your shoulder because you are the main regulator. Now, there is need to strengthen the Know Your Customer (KYC) requirements.

    “I’ve said it here. It’s very key. Once you strengthen the KYC requirements, some of these issues would have been taken care of. You should simplify the process of account update. This is for the bank. Let the process be simplified.

    “The shareholder’s representative that spoke, was talking about their website where all these things will be there. Once you go to that website, you will see everything.

    “I don’t know whether there is such website in existence. If there is, please, make sure that the public knows about it. If there’s none, let there be one so that all these stories will not come up again.

    “They will just go to the website and you see everything there. Now, we need to also address the inadequacies in the financial institutions infrastructure.

    “The DG talked about leveraging technology. That is key. That is the major key. We as National Assembly have a role to play and we know our roles. Our roles are very clear. There is need to amend the Finance Act.

    “You can’t lump all these things together. There is need to separate it. The CBN will not have a role to play with the matter of accounts, while the SEC and other institutions will have a role for the unclaimed dividends.

    “So, I think we should amend the Finance Act and in any case, I don’t just subscribe to the fact that the Minister of Finance should be the chairman of any such institution. He is too busy to chair it and we don’t even know whether he will properly constitute it.”

  • Senate moves to make local govt’s monthly allocations public

    Senate moves to make local govt’s monthly allocations public

    The Senate is considering a Bill which seeks to ensure fiscal accountability and transparency in local government administration.

    The ‘Local Government Fiscal Accountability Bill 2024’ Bill was passed for first reading on Tuesday before the Senate went on annual vacation. It was sponsored by Senator Saliu Mustapha (APC – Kwara Central).

    The Bill, among other things, mandates the publication of monthly allocations to all Local Government Areas from the Federation Account.

    Senator Mustapha highlighted the importance of the proposed law in fostering public trust and confidence in local government operations.

    He said: “Transparency in local government finances will lead to more effective and rapid development in rural areas and help curb rural-urban migration.”

    Read Also:Senate vows to expose economic saboteurs in petroleum sector, importers of hazardous products

    According to him, local governments are the closest arm of government to the people, and, so, making their revenues public would drive development and accountability.

    “Local government chairmen do not have constitutional immunity. By publishing their revenues, we encourage them to utilise funds wisely and effectively.

    “The objective of this Bill is to promote transparency and accountability in local government administration by mandating the publication of monthly allocations to all local government areas from the Federation Account. By doing so, we aim to foster public trust and confidence in Local Government Administrations.

    “As chairman of the Senate Committee on Agriculture Production Services and Rural Development, my intention is to motivate Local Government administrations to develop rural areas, which is a key focus of mine. I am confident that this Bill will achieve its intended purpose and contribute to the growth and development of our nation,” he added.

  • Senate vows to expose oil sector saboteurs, importers of hazardous products

    Senate vows to expose oil sector saboteurs, importers of hazardous products

    Saboteurs in the nation’s petroleum sector and those responsible for the importation of toxic fuel into the country will be exposed, the Senate vowed yesterday.

    The Senate Ad-Hoc Committee to investigate the alleged economic sabotage in the Nigerian Petroleum Industry declared at a news conference in Abuja.

     The Ad-Hoc Committee Chairman, who is also the Majority Leader, Senator Opeyemi Bamidele, read the text of the news conference.   All the panel members were in attendance.

    Bamidele said: “We are also taking this task seriously with a view to addressing fundamental issues that pose grave threats to our economic prosperity, fiscal stability and public health as a federation.

    “In line with our mandate, we will definitely unravel the roots of economic sabotage in Nigeria’s petroleum industry and make necessary recommendations that will entrench global best practices in the industry and open it up for more investments, especially in the midstream and downstream sectors.

    “We are utterly committed to this mandate. We shall also carry out this national assignment without fear or favour.

    “We shall be fair and just to all parties with a view to promoting and protecting the strategic national interests of our fatherland.”

    Members of the Committee are: Senators Asuquo Ekpenyong, Abdullahi Yahaya, Nohammed Monguno, Solomon Adeola, Diket Plang, Ipalibo Harry Banigo, Khabeeb Mustapha, Adams Oshiomhole, Jonah Eteng, Adetokunbo Abiru, Osita Izunaso, Sahabi Ya’u Alhaji, Abdul Ningi and Ifeanyi Ubah.

    The Ad-Hoc Committee said it would in due court invite various stakeholders in the sector  for interrogation.

    Read Also: How Esosa Iyawe’s motion on NMDPRA CEO raised urgent health &environmental concerns in Nigeria

    Key among the stakeholders are the Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri, the  Nigerian National Petroleum Company Limited (NNPCL) , the Central Bank of Nigeria (CBN) and the Nigeria Ports Authority (NPA).

    Others are the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Nigerian Upstream Petroleum Regulatory Commission ( NUPRC), Nigeria Customs Service, Nigerian Navy, International Oil Companies ( IOCs), Dangote Group , Capital Oil, Modular Refineries, etc.

  • Senate vows to expose economic saboteurs in petroleum sector, importers of hazardous products

    Senate vows to expose economic saboteurs in petroleum sector, importers of hazardous products

    The Senate on Thursday vowed to expose saboteurs in the petroleum sector and those responsible for the importation of toxic fuel into the country.

    The “Senate Ad-Hoc Committee to investigate the alleged economic sabotage in the Nigerian Petroleum Industry” made this assertion during a briefing in Abuja.

    The Chairman of the Ad-Hoc Committee, who is also the Majority Leader, Senator Opeyemi Bamidele, read the text of the press conference, flanked by all members of the panel.

    Bamidele said: “We are also taking this task seriously with a view to addressing fundamental issues that pose grave threats to our economic prosperity, fiscal stability and public health as a federation.

    “In line with our mandate, we will definitely unravel the roots of economic sabotage in Nigeria’s petroleum industry and make necessary recommendations that will entrench global best practices in the industry and open it up for more investments, especially in the midstream and downstream sectors.

    “We are utterly committed to this mandate. We shall also carry out this national assignment without fear or favour.

    “We shall be fair and just to all parties with a view to promoting and protecting the strategic national interests of our fatherland.”

    Read Also:JUST IN: Senate vows to expose economic saboteurs in petroleum sector, importers of hazardous products

    Members of the Committee are: Senators Asuquo Ekpenyong, Abdullahi Yahaya, Nohammed Monguno, Solomon Adeola, Diket Plang, Ipalibo Harry Banigo, Khabeeb Mustapha, Adams Oshiomhole, Jonah Eteng, Adetokunbo Abiru, Osita Izunaso, Sahabi Ya’u Alhaji, Abdul Ningi and Ifeanyi Ubah.

    The Ad-Hoc Committee said it would in due court summon various stakeholders in the sector  for interrogation.

    Key among the stakeholders are the Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri, the  Nigerian National Petroleum Company Limited (NNPCL) , the Central Bank of Nigeria (CBN) and the Nigeria Ports Authority (NPA).

    Others are the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Nigerian Upstream Petroleum Regulatory Commission ( NUPRC), Nigeria Customs Service, Nigerian Navy, International Oil Companies ( IOCs), Dangote Group , Capital Oil, Modular Refineries, etc.

    Bamidele said the assignment of the Ad-Hoc committee bordered on the alleged economic sabotage in the petroleum industry, “including the recent accusations and counter of importation of petroleum products into the country.”

    He said given its consequences the domestic economy, the Senate constituted the 15-man Ad-hoc Committee to investigate Alleged Economic Sabatage in the Nigerian Petroleum Industry on July 3, 2024 to look into allegation.

    He said: “We are all aware that the Petroleum industry has been on the front burner of public discourse since the creation of this Ad-Hoc Committee, as regulators and industry players continue to make one accusation or the other on various issues relating to the general operations of the Petroleum Industry.

    “Hence, the need for this press conference to educate the general public on the mandates, workings, and of course the modalities adopted by the Ad-Hoc Committee to carry out this assignment.

    “The creation of this Ad-Hoc Committee became overwhelmingly necessary after an extensive debate on the floor of the Senate on Wednesday, July 3, 2024, following a motion on Alleged Economic Sabotage in the Petroleum Industry sponsored by Senator Asuquo Ekpenyong (Cross River South) with a clear mandate.

    “It will interest you to note that during debate on the motion, Distinguished Senators, in their contributions expressed dismay and described it as economic sabotage and a clear failure of the Government Statutory Agencies charged with the responsibility of safeguarding the nation’s economic interest, to live up to their expectations.

    “Hence, an Ad-Hoc Committee was constituted to conduct a comprehensive investigation into all the prayers and report to the Senate within three (3) weeks.

    “For the avoidance of doubt, the Terms of Reference of the Ad-Hoc Committee include:

    Examine the pre-shipment and pre-discharge standard test parameters adopted by the Nigerian Midstream and Downstream Regulatory Authority with a view to uncovering loopholes, if any, being exploited to get toxic cargoes into the country.

    “Determine the level of compliance of the NNPCL’s Direct Sale and Direct Purchase (DSP) arrangements in line with the provisions of the Petroleum Industry Act, including the extent of transparency and accountability in the

    “Beam legislative searchlight on the activities of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), including payments made to transporters in the last 10 years;

    “Enquire from the NNPCL the state/status of the 22 depots built by the defunct NNPC to eliminate road distribution of petroleum products;

    “Engage with stakeholders within the oil and gas industry with a view to identifying possible gaps in regulating and strengthening the surveillance and monitoring structures in place to enable Nigeria to detect violations of best practice standards in the importation of products before they enter into the domestic supply chains;

    “Also engage with the NNPCL with a view to understanding the extent of its determination and timelines for the start-up of government-funded oil refineries;

    “Investigate how institutions across the importation and distribution chain failed to conduct quality sampling, shipped in products without auditing, and performed port validations by the Nigeria Customs Service, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Nigerian Maritime Administration and Safety Agency, Standards Organization of Nigeria (SON); and Nigerian Ports Authority (NPA); and Such other consequential amendments the Ad-Hoc Committee deems fit.”

    He added: “Members of the Ad-Hoc Committee immediately rolled up their sleeves, met on several occasions to determine the best ways to achieve its mandate, and collectively resolved to sacrifice a portion of their recess period to carry on with the assignment devoid of bias in the overall national and public interest.

    “This commitment led to the inauguration of the Ad-Hoc Committee by the President of the Senate, His Excellency Senator Obot Akpabio, GCON, on Monday, July 22, 2024.”

    According to the Senate Leader, the Ad-Hoc Committee has identified some critical stakeholders to interact with in the course of discharging its assignment.

    He listed the stakeholder to include: The Minister of State for Petroleum (Oil), Federal Ministry of Finance, Federal Ministry of Trade and Investment, Nigerian National Petroleum Company Limited (NNPCL) and National Engineering and Technical Company Limited (NETCO) and Contractors.

    Others are the Central Bank of Nigeria (CBN), Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Standards Organization of Nigeria (SON), Nigerian Maritime Administration and Safety Agency (NIMASA), Nigeria Customs Service, Nigerian Navy, OBAT Oil, Matrix Energy Depot, Independent Petroleum Marketers Association of Nigeria (IPMAN), International Oil Companies (IOCs),

    Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), Major Oil Marketers Association of Nigeria (MOMAN), Nigeria Ports Authority (NPA), Dangote Group, Modular Refineries and

    Capital Oil.

  • JUST IN: Senate vows to expose economic saboteurs in petroleum sector, importers of hazardous products

    JUST IN: Senate vows to expose economic saboteurs in petroleum sector, importers of hazardous products

    The Senate has vowed to expose saboteurs in the nation’s petroleum sector and those responsible for the importation of toxic fuel into the country.

    The Senate ad-hoc committee to investigate the alleged economic sabotage in the Nigerian Petroleum Industry made this assertion on Thursday, July 25, during a press conference in Abuja.

    The chairman of the ad-hoc committee, who is also the Majority Leader of the Senate, Senator Opeyemi Bamidele, read the text of the press conference, flanked by all members of the panel.

    Bamidele said: “We are also taking this task seriously with a view to addressing fundamental issues that pose grave threats to our economic prosperity, fiscal stability, and public health as a federation.

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    “In line with our mandate, we will definitely unravel the roots of economic sabotage in Nigeria’s petroleum industry and make necessary recommendations that will entrench global best practices in the industry and open it up for more investments, especially in the midstream and downstream sectors.

    “We are utterly committed to this mandate. We shall also carry out this national assignment without fear or favour.

    “We shall be fair and just to all parties with a view to promoting and protecting the strategic national interests of our fatherland.”

    Details shortly…