The Nigerian Senate has moved to unearth economic saboteurs in Nigeria’s petroleum industry.

Briefinging journalists on Thursday, the Senate leader and chairman, Senate Ad-Hoc Committee to investigate the alleged economic sabotage in the Nigerian Petroleum Industry, Senator Michael Opeyemi Bamidele, said the Committee is particularly interested in understanding why local refineries are not working despite the substantial amounts of money spent annually on their maintenance and operations.

Senator Bamidele said the Committee will closely examine what the Nigerian National Petroleum Corporation Limited (NNPCL) has been doing to address this persistent problem.

According to him, the Committee’s investigation seeks to identify and hold accountable all parties involved in the importation and distribution of the adulterated Petroleum Products (PMS and AGO), as well as suppliers, importers, regulatory bodies, and any other entities that may have contributed to this serious lapse in quality control.

He told journalists that the Committee 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.

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.

“In line with our mandate, we will definitely unravel the roots of economic sabotage in Nigeria’s petroleum industry and make necessary recommendations that will entrench global best practices in the industry and open it up for more investments, especially in the midstream and downstream sectors.

“We are utterly committed to this mandate. We shall also carry out this national assignment without fear or favour. We shall be fair and just to all parties with a view to promoting and protecting the strategic national interests of our fatherland.

Senator Bamidele assured members of the public that the Committee will pursue this investigation with the utmost diligence and integrity, saying, “We are dedicated to safeguarding the interests of all Nigerians and restoring confidence in our energy sector”.

While calling on all relevant stakeholders to cooperate fully with the committee as they go about the investigation, Senate leader said together, we can ensure that such an incident does not re-occur and that the integrity of our fuel supply chain is maintained and the timelines for the start-up of government funded oil refineries, are determined.

May I categorically state that this Ad-Hoc Committee is not meant to witch hunt any individual or group of people, or corporation, but rather to find a lasting solution for our collective mutual gains.

“To this regard, the Ad-Hoc Committee seeks the cooperation of stakeholders in order not to jeopardize the good intention of the Senate.

“Gentlemen of the Press, our mandate is of strategic national interests. 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 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 grim realities we are facing as a federation”, he added.