Senate panel summons NNPC, CBN management over importation of ‘substandard’ petroleum products

An ad hoc committee of the senate has invited the management of the Nigerian National Petroleum Company Limited (NNPC) and the Central Bank of Nigeria (CBN) over the importation of “substandard petroleum products and sabotage of the economy”.

The committee led by Opeyemi Bamidele, majority leader of the senate, also invited Heineken Lokpobiri, minister of state for petroleum, and the management of the Nigeria Ports Authority (NPA), the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the Standard Organisation of Nigeria (SON), and the Nigerian Maritime Administration and Safety Agency (NIMASA), among other government agencies.

Addressing a press conference in Abuja on Thursday, Bamidele said the committee would probe the trillions of naira spent to fix the country’s refineries without positive results.

“Our investigation seeks to identify and hold accountable parties involved in the importation and distribution of the adulterated petroleum products (PMS and AGO),” the senator said.

“This includes suppliers, importers, regulatory bodies, and any other entities that may have contributed to this serious lapse in quality control.

“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.”

The senate leader said the panel would visit the refineries to assess the challenges associated with them.

“It is pertinent to note that in the course of interactions with the identified stakeholders, the ad hoc committee will visit any of their facilities that it deems necessary, especially the state-owned refineries, to ascertain their status, considering the funds already invested in the various turn-around maintenance years without any meaningful result,” Bamidele said.

“The ad hoc committee is particularly interested in understanding why local refineries are not working despite the substantial amount

of money spent annually on their maintenance and operations.

“We will closely examine what the Nigerian National Petroleum Corporation Limited has been doing to address this persistent problem.”

Bamidele allayed fears of the integrity of the committee to conduct the investigation.

“Each member of the committee is carefully selected based on his/her records of sterling performance. We are all men of integrity who will never pursue selfish interests at the expense of the national interests,” the senator said.

“The senate did not constitute this committee to intimidate and witch-hunt any party.

“Rather, the committee was constituted for the purpose of ensuring social and economic justice in the light of the grim realities we are facing as a federation.

“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.”

Members of the committee include Adams Oshiomhole, Abdul Ningi, Osita Izunazo, Ifeanyi Uba, Diket Plang, Tahir Monguno, and Abdullah Yahaha.