FG , NASS probe alleged massive fraud in oil-sector

A prominent Niger Delta leader, Ambassador Sobomabo Jackrich aka Egberipapa has called on the federal government and the National Assembly to unearth the alleged massive fraud going on in the oil and gas sector and ensure those responsible are dealt with accordingly.

In a statement to newsmen , Egberipapa said it was disturbing that despite reported approval for funds for turn around maintenance of the Port Harcourt refinery by former President Muhammadu Buhari and his assurance that the three refineries would resume operations before the end of his administration nothing was done.

"In 2021, The Federal Executive Council (FEC), presided over by former President Buhari who was also the Minister of Petroleum, had approved funds for immediate commencement of rehabilitation works on the 210,000 barrels per day Port Harcourt Refinery.

"Till date, the Port Harcourt refinery is yet to process a drop of petroleum product", he said.

Egberipapa , a governorship candidate of the National Rescue Movement, NRM, in the last election in Rivers state, said the situation was disturbing, adding that the federal government and the National Assembly should investigate alleged rot in the nation's oil and gas sector.

He expressed fears that there was a seeming conspiracy among some in the country to hijack the economy of the nation.

He further charged stakeholders in the Niger Delta to be part of call on the government and relevant agencies of government to do the right thing in the oil and gas sector.

"The out-gone administration of former President Muhammadu Buhari spent eight years paying lip service to the issue of revamping the nation's moribund Port Harcourt, Warri and Kaduna refineries, which it had claimed were undergoing turnaround maintenance throughout the lifespan of the administration.

"According to Vanguard News (online) publication of August 30, 2022; Group Chief Executive Officer of NNPC Ltd, Mele Kyari, had during the State House Ministerial Briefing organized by the Presidential Communications Team, said the importation of petroleum products into the country will be stopped by mid-2023.

"According to him, the combined output of Nigeria’s refineries which he said were being revamped and Dangote refinery, would be enough to stop importation.

"However, since such assurances where given almost one year ago, the NNPC limited led by Mele Kyari failed to show commitment in ensuring that the three refineries of Port Harcourt, Warri and Kaduna come back to their full production capacity.

"Unfortunately, the NNPC limited led by Mele Kyari, the statutory industry regulator and affirmatively a competitor with three moribund refineries in Port Harcourt, Warri and Kaduna, decided to purchase 20% shares in Dangote Refinery, a private entity, thereby enabling it gain advantage over the government owned refineries.

"What happened to channeling such funds to ensuring the turn around maintenance of at least the Port Harcourt and Warri refineries

"Meanwhile, Mr Buhari on May 22nd 2023 one week to the expiration of his administration, hurriedly commissioned the Dangote refinery that is only 80% completed.

"Findings indicate that the refinery may not be functional until January 2024.

"NNPC, the industry regulator had advised the House of Representatives Appropriation Committee that the Dangote Refinery would be up and Running in March 2023 hence there would be no need to make provisions for Subsidy in 2023/24 Budget.

"Unfortunately, provision for subsidy in the 2023 budget elapses by the end of June 2023, yet the Dangote refinery commissioned in May 22nd is not ready, while the nation's three refineries remain moribund.

"Despite these harsh economic realities, President Bola Tinubu on his inaugural speech said "subsidy is gone". And by that singular announcement, in less than 24 hours, the nation's economy took a drastic turn, as cost of living skyrocketed to the high heavens.

"The Mele Kyari's NNPC limited and the CBN feel should also extend same gesture to other private entities investing in the nation's petroleum industry.

"A quick pick would be the Abdul Samad Rabiu BUA Group which is currently constructing the Akwa Ibom III petrochemical refinery at Ibeno, Akwa Ibom State, Nigeria, which is expected to commence operations in 2024.

"This call or challenge has become imperative owed to the huge contribution of the Niger Delta in providing the economic sustenance of the country for several decades.

"A functional refinery in the Niger Delta will guarantee rapid infrastructural and human capital development, while the issue of underdevelopment of the Niger Delta despite its huge contribution to the nation's economy cannot be stressed enough.

"The federal government seems to have lost interest in the operationalization of the Port Harcourt, Warri and Kaduna refineries, and obviously so.

"Since it now only shows interest in supporting private sector players thrive in the petroleum sector; to ensure fairness and a level playing field, the CBN should equally extend its kind gesture to invest in the Bua refinery to fast track its completion for the benefit of the Niger Delta."