Abuja, Sept. 24, 2024 (TheGavel) — As the Senate resumes plenary sessions, the Leader of the Senate, Senator Opeyemi Bamidele, announced a renewed commitment to investigate the root causes of economic sabotage in Nigeria’s petroleum industry.
In a statement released on Tuesday, Bamidele emphasized the Senate’s determination to address issues affecting the sector, which he described as crucial for national interest. “We will also develop institutional mechanisms that will make the industry more efficient and functional,” he said.
Bamidele highlighted several critical challenges plaguing the industry, including crude oil theft, prolonged turnaround maintenance of public refineries, the importation of substandard petroleum products, and disruptions to fuel supply. “The industry is not optimal in its performance,” he noted.
Prior to the Senate’s annual recess, President of the Senate, Senator Godswill Akpabio, established an ad-hoc committee to investigate these issues. The scope of this committee has since been expanded to address a range of allegations regarding economic sabotage within the sector. Bamidele clarified, “Contrary to some media reports, the Senate never suspended its Ad hoc Committee to Investigate Alleged Economic Sabotage in the Nigerian Petroleum Industry.” He explained that the committee had only postponed its public hearing to address procedural matters.
The Senate plans to collaborate with the House of Representatives to form a joint committee to continue the investigation. “Both chambers of the National Assembly will resolve the issues and possibly constitute a joint committee that will continue with the investigation from where the ad hoc committee stopped,” he added.
Bamidele pointed out the significant events that occurred during the recess, including nationwide protests, a resurgence of long queues at filling stations, instability in the foreign exchange market, and a flood disaster exacerbating humanitarian crises in several states. He remarked, “Each of these public concerns reminds us of the complexity of our socio-economic challenges and the people’s desperation for multi-pronged solutions.”
In addition to addressing the petroleum sector, Bamidele indicated that the Senate is also awaiting a new Medium Term Expenditure Framework (MTEF) from the Executive, which is vital for multi-year public expenditure planning. “MTEF is an integral part of our budget culture that sets out future budget requirements for existing services,” he explained.
Moreover, the Senate is engaged in reviewing the 1999 Constitution, led by the Deputy President of the Senate, Senator Jibrin Barau. In the coming weeks, the Constitution Review Committee plans to hold retreats, strategy sessions, and zonal meetings to gather input on potential amendments to the country’s foundational legal document. (NAN)
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