In a bid to bring transparency and accountability to the oil sector, the Nigerian Senate has taken a significant step by constituting an ad hoc committee. This committee will be tasked with investigating all contracts awarded for the rehabilitation of refineries over a span of 13 years, amounting to a staggering N11.35 trillion.
The breakdown of this substantial sum includes $592,976,050.00, €4,877,068.47, and £3,455,656.93. Such a colossal amount demands scrutiny to ensure that every taxpayer’s Naira is put to good use.
Alongside the investigation into the rehabilitation contracts, the Senate has also directed the committee’s attention to the Ministry of Petroleum Resources, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the Nigerian National Petroleum Corporation Limited (NNPCL), and the Bureau of Public Enterprises (BPE). These organizations will be interrogated on their approach to the potential commercialization of state-owned refineries.
The responsibility of chairing this critical committee falls to Senator Isah Jibrin (Echocho, APC – Kogi East), an esteemed member of the Nigerian Senate. Senator Jibrin brings a wealth of experience and expertise to the position, ensuring a thorough investigation.
Joining Senator Jibrin are the chairmen of the Petroleum Resources (Downstream, Upstream, and Gas) committees, along with representatives from the Finance, Appropriation, and Public Accounts committees. This diverse group of individuals will work collaboratively to delve into the matter at hand.
Time is of the essence, and recognizing the importance of expediency, Deputy Senate President Barau Jibrin (APC, Kano North) has mandated that the committee complete its investigation and present its findings within four weeks. This directive demonstrates a commitment to swift action and a determination to keep the public informed.
As Nigerians, we eagerly await the outcome of this investigation, as it has the potential to shed light on matters that impact our economy and the well-being of our nation. Rest assured, the Nigerian Senate remains steadfast in its responsibility to hold government institutions accountable for the utilization of public funds.
