Senate panel summons NNPC, CBN over alleged importation of sub-standard petroleum products
The Nigerian Senate has summoned key stakeholders for a thorough investigation to address ongoing concerns over the quality of petroleum products and their impact on the Nigerian economy.
The ad hoc committee, chaired by Senate Majority Leader Opeyemi Bamidele, has called upon the management of the Nigerian National Petroleum Company Limited (NNPC) and the Central Bank of Nigeria (CBN), along with several other major players, to provide answers regarding allegations of importing substandard petroleum products and sabotaging the economy.
The committee’s invitation list includes prominent figures such as Heineken Lokpobiri, Minister of State for Petroleum, as well as heads of the Nigeria Ports Authority (NPA), the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the Standards Organisation of Nigeria (SON), and the Nigerian Maritime Administration and Safety Agency (NIMASA).
Addressing the press in Abuja on Thursday, July 25, Bamidele emphasized the urgency of the investigation. “Our goal is to pinpoint and hold accountable those responsible for the importation and distribution of adulterated petroleum products, including PMS and AGO,” he stated. “This includes suppliers, importers, regulatory bodies, and any entities that may have failed in their duty of quality control.”
The committee aims to scrutinize the billions of Naira invested in refinery maintenance that has yet to yield significant improvements. “We will conduct a comprehensive review of current regulatory frameworks to identify shortcomings and recommend reforms to prevent future issues,” Bamidele explained. “Our commitment is to ensure the highest standards of fuel quality in Nigeria.”
The investigation will also involve on-site visits to refineries. Bamidele revealed that the committee plans to assess the conditions of state-owned refineries to understand why they remain underperforming despite substantial investments. “We want to understand why our local refineries are not operational despite the significant amount of money allocated to their maintenance and operations,” he said.
Bamidele assured the public of the committee’s integrity and dedication to justice. “Each member of this committee has been selected based on their stellar records. We are committed to addressing these critical issues with transparency and fairness,” he asserted. “Our aim is not to intimidate or witch-hunt, but to ensure social and economic justice for the nation.”
The committee’s roster includes prominent figures such as Adams Oshiomhole, Abdul Ningi, Osita Izunazo, Ifeanyi Uba, Diket Plang, Tahir Monguno, and Abdullah Yahaha, all of whom will play pivotal roles in this vital investigation.
With the investigation underway, the Senate ad hoc committee is poised to address fundamental issues threatening Nigeria’s economic prosperity, fiscal stability, and public health.
