The Nigerian Senate has established an Ad-hoc Committee to investigate alleged economic sabotage in the petroleum sector, with a focus on resolving the dispute between the Dangote Group and regulators.
The committee, led by Chairman Bamidele Opeyemi, aims to identify and expose saboteurs in the sector, ensure the takeoff of local refineries, and address issues related to the importation and distribution of adulterated petroleum products.
Opeyemi stated, “We will do what we consider to be in overriding public interest. We will have the courage to name violators at the end, even if they are Senators. If and where necessary, we have been told that we will do this without fear or favor, and there shall be no sacred cows.”
He added, “The ongoing accusations and counter-accusations between Dangote and regulators are among the issues that we have been mandated to look into.”
The committee has written to relevant stakeholders to submit documents before a public hearing scheduled for September 10-12, 2024. Opeyemi emphasized that the investigation will be thorough and transparent, with a focus on safeguarding the interests of Nigerians and restoring confidence in the energy sector.
“We will conduct a thorough review of current regulatory frameworks and procedures to identify deficiencies and recommend necessary reforms to prevent such occurrences in the future. The Committee is committed to ensuring the highest standards of fuel quality for the Nigerian market,” Opeyemi said.
He further stated, “The Senate Ad-Hoc Committee on Alleged Economic Sabotage in the Petroleum Industry assures the public that we will pursue this investigation with the utmost diligence and integrity. We are dedicated to safeguarding the interests of all Nigerians and restoring confidence in our energy sector.”
Opeyemi cautioned that the investigation is not meant to witch-hunt individuals or corporations but rather to find a lasting solution for Nigeria’s collective mutual gains.
The Terms of Reference of the Committee include examining regulatory frameworks, determining compliance with the Petroleum Industry Act, and investigating payments made to transporters. The committee will interface with various agencies and organizations, including the Minister of State for Petroleum, NNPCL, CBN, and NPA.
The committee threatened to issue a warrant of arrest against any agency that shuns its summon for interface. Members of the committee include Asuquo Ekpenyong, Abdullahi Yahaya, Nohammed Minguno, Adeola Olamilekan, and others.
