8th September, 2024
The Senate has postponed its investigation into the alleged economic sabotage in the petroleum industry, citing the need for wider consultations with stakeholders whose input and participation are essential to the success of the investigative hearing.
The upper chamber also pointed to legislative exigencies, which are intended to further enhance due diligence in conducting the investigation, as another reason for the postponement.
Senate Leader and Chairman of the Senate Ad-hoc Committee to Investigate Alleged Economic Sabotage in the Nigerian Petroleum Industry, Senator Opeyemi Bamidele, provided these explanations in a statement released on Sunday.
The Senate had established the ad-hoc committee to investigate billions spent on maintaining the nation’s refineries, scrutinize regulatory agencies over payments made to transporters, and uncover alleged importation of hazardous petroleum products, including the dumping of substandard diesel into the country.
The committee had completed its pre-investigation activities, holding interactive sessions with heads of ministries, departments, and agencies (MDAs), as well as with representatives of private interests in the downstream and midstream petroleum sectors.
Following these initial engagements, the ad-hoc committee had scheduled the public investigative hearing to take place from Tuesday, 10th September to Thursday, 12th September 2024.
However, in his Sunday statement, Senator Bamidele explained that after consultations with all members of the ad-hoc committee and key actors in the petroleum industry, the decision was made to postpone the hearing.
He further stated that the committee would announce a new date for the hearing and communicate it to all relevant stakeholders in due course.
Explaining the reasons for the postponement, Bamidele emphasized that the decision was made in the best interest of the nation and its people.
He highlighted the need for more comprehensive consultations with a broader range of stakeholders both within and outside the petroleum industry, as well as the importance of legislative priorities that require further due diligence to ensure a thorough investigation.
Bamidele also noted that the current circumstances in the country, which demand urgent attention from both public and private sector stakeholders across the 36 states and the Federal Capital Territory, contributed to the decision to delay the hearing.
He acknowledged any inconvenience caused to stakeholders but reiterated that the postponement was made solely in the national interest.
Bamidele assured that the ad-hoc committee’s decisions were aimed at enabling a more holistic approach to the public hearing and finding long-lasting solutions to the challenges facing the petroleum sector.
He concluded by reaffirming that a new date for the public hearing would be communicated to all stakeholders in due time.
