Lawmakers to Probe Upstream Petroleum Sector

Having concluded the fuel subsidy probe successfully, the members of the House of Representatives have indicated that they will begin to focus on other aspects of corruption and mismanagement in the petroleum sector in Nigeria. The initiative for this additional probe was documented in the Farouk Lawan led committee’s report.

Speaking with Punch Newspapers, a member of the House of Representatives disclosed, “Successive governments in the country, whether military or those in power since 1999 when Nigeria returned to democratic governance, have awarded contracts for TAM on our refineries.

“We are talking of funds running into billions of dollars, yet the refineries in Kaduna, Port Harcourt and Warri are in epileptic state.”

He added, “Following the findings of the panel, the House has few options but to investigate other aspects of the industry.

“The fuel subsidy probe was a tip of the iceberg. Here, the committee uncovered only N1.07tn as stolen money.

“But, when you take the TAM and calculate the billions of dollars that when down the drain, you will appreciate how some people have milked this country.”

The House is expected to begin to raise motions to promote the probe in the upstream sector, specifically on Turn Around Maintenance (TAM) on refineries, Crude Oil Sales and the arbitrary  Award of Oil Blocs.