Senate Postpones Public Hearing For Dangote, NNPC, Others

The Senate has reportedly decided to delay the public hearing regarding the purported sabotage within the Nigerian petroleum sector.

The Senate clarified that this postponement is intended to facilitate broader consultations with stakeholders, whose contributions and involvement are deemed essential for enhancing the outcomes of the investigative hearing.

Among the key stakeholders summoned to participate in the public hearing, now set for September 10 to 12, 2024, are the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, representatives from the Nigerian National Petroleum Company Limited (NNPCL), the Central Bank of Nigeria (CBN), and the Nigeria Ports Authority.

Additional entities called to appear include the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Nigerian Upstream Petroleum Regulatory Commission, the Nigeria Customs Service, the Nigerian Navy, International Oil Companies, Dangote Group, Capital Oil, and various modular refineries.

Naijaonpoint reports that the upper chamber cited legislative necessities to ensure thorough due diligence in the investigative process as another rationale for ...ponement.

Senator Opeyemi Bamidele (APC, Ekiti Central), the Senate Leader and Chairman of the Senate Ad-hoc Committee tasked with investigating the alleged economic sabotage in the Nigerian petroleum sector, provided these explanations in a statement released on Sunday.

The Senate established the ad hoc committee to scrutinize the substantial expenditures associated with maintaining the nation’s refineries, to examine the overpayments made by regulatory agencies to transporters, and to investigate the alleged importation of hazardous petroleum products and the dumping of substandard diesel in the country.

Following comprehensive pre-investigation activities, the ad-hoc committee engaged in discussions with the heads of various Ministries, Departments, and Agencies, as well as certain private stakeholders in the downstream and midstream petroleum sectors.

After this extensive engagement with selected MDAs and private oil companies, the ad-hoc committee subsequently arranged its investigative hearing for Tuesday, September 10, to Thursday, September 12, 2024.

Main Reason Why The Public Hearing Was Postponed

In his statement on Sunday, Bamidele elaborated on the ad-hoc committee’s decision to delay the investigative hearing, emphasizing that this choice was made following thorough consultations with all committee members and significant figures in the petroleum sector.

He also indicated that the committee would inform all stakeholders of a new date for the hearing in a timely manner.

Bamidele articulated the essential reasons for ...ponement, asserting that the decision was made with the best interests of the federation and its large population in mind.

He further clarified that the delay was necessary due to the urgent need to engage a broader range of stakeholders both within and outside the petroleum industry, as well as to address legislative requirements that would enhance the thoroughness of the investigative process.

Additionally, he pointed out that the current circumstances in the country, which require immediate attention from nearly all stakeholders in both the public and private sectors across the 36 states and the Federal Capital Territory, were pivotal in the decision to postpone the hearing.

“While we deeply regret all inconveniences it may have caused all the stakeholders collectively or individually, this decision was taken purely and solely in the national interest,” the lawmaker stated.

Bamidele articulated that each of these decisions was made to provide the ad-hoc committee with a comprehensive perspective on the public hearing, aiming to identify sustainable solutions to the issues facing the petroleum sector of the economy.

He subsequently assured all stakeholders that a new date for the public hearing would be communicated to them promptly.

Naijaonpoint reports that this development followed the appeal from the Kwara State Council of the Nigeria Labour Congress (NLC) to the Federal Government, urging a reversal of the recent increase in petrol prices.

In a statement released on Sunday by the State Chairman of the NLC, Muritala Olayinka, the union characterized the price hike as an “assault on workers’ wellbeing and a breach of contract.”

The union called on the Federal Government to retract “economic policies that are not labour-friendly and detrimental to the populace.”

Following the increase in petrol prices by NNPC last week, independent fuel stations adjusted their prices, dispensing fuel between ₦1000 and ₦1200 per litre.

For example, in certain fuel stations in Ilorin, the capital of Kwara State, a litre of fuel is sold at ₦1000.