Stakeholders move to stop NASS’ probe of oil industry — Sources

By Henry Umoru

THERE are strong indications that major stakeholders are fighting hard to stop probe of the oil sector by the National Assembly.

Vanguard reliably gathered that the organisations among those listed for probe by the ad-hoc committee chaired by the Senate Leader, Senator Opeyemi Bamidele (APC, Ekiti Central), are bent on ensuring the committee does not see the light of the day, as the probe would open up a lot of hidden facts in the sector.

According to a source, the stakeholders started with the House committee charged with the responsibility of probing the sector, which explains the reason for its disbandment and setting up of a joint committee of both the Senate and the House of Representatives.

The source said to have a balanced committee, 14 members each were drawn from the Senate and House of Representatives.

 The Senate initially had 15 members, which was reduced by one following the death of  Senator Ifeanyi Uba.

The source said with pressures from the stakeholders, a meeting of the committee has not been called and members are grumbling, wondering why the committee was not working.

The source said: “The committee members are worried that stakeholders in the oil sector are working round the clock to stop  the probe of the sector by the National Assembly’s committee chaired by the Senate leader, Senator Opeyemi Bamidele.

“People are asking why the committee is not working or that it is going to be another one that will start and die naturally?”

Recall that on July 3, 2024, the President of the Senate, Senator Godswill Akpabio, resolved to engage in another probe of the oil and gas sector over alleged gross abuse.

Consequetly, Akpabio set up a 15-member ad hoc committee to carry out a holistic investigation into alleged sabotage in the oil sector, sequel to a motion sponsored by Senator Asuquo Ekpenyong (APC, Cross River-South).

The committee, chaired by Senate Majority Leader, Bamidele, and its members were then asked to beam the searchlight on the entire industry and unravel alleged growing cases of malpractices, weak regulation or failure to comply with industry rules and regulations, in spite of the Petroleum Industry Act, PIA.

On July 21, Senator Bamidele summoned the stakeholders and operators in the petroleum sector for interrogation over alleged cconomic sabotage in the sector.

But two days to the public hearing fixed for September 8, the committee in a statement deferred its investigative hearing that was  slated  for Tuesday, September 10 to Thursday, September 12, 2024, citing the need for wider consultations with stakeholders whose input and participation would add value to the conclusion of the investigative hearing.

A statement   from the Directorate of Media and Public Affairs of   Bamidele, had explained that the committee decided to postpone the investigative hearing after due consultation with all its members and key actors in the petroleum industry, adding   that the   committee would communicate a new date for the conduct of the investigative hearing to all the stakeholders in due course.

However, on resumption from its annual recess last week, chairman of the committee, Senator Opeyemi Bamiele, in a personally signed statement, said:  “As we return fully to the parliamentary sessions on Tuesday this week, the National Assembly will, without ambiguity, revisit its decision to decisively address challenges in the petroleum industry.

“The industry is not optimal in its performance. This may not be unconnected to crude oil theft, endless turn around maintenance of public refineries, importation of substandard petroleum products and disruption of fuel supply, among others.”

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