Both the Senate and House of Representatives have decided to conduct a joint investigation into alleged economic sabotage in Nigeria’s petroleum sector. This follows the establishment of ad-hoc committees by each chamber in July to address pressing challenges in the industry.
Senator Opeyemi Bamidele, Chairman of the Senate ad-hoc Committee and leader of the Senate, announced the decision in a statement. He emphasized that as the National Assembly resumes parliamentary sessions, it will prioritize resolving issues affecting the petroleum industry, which he described as underperforming due to factors such as crude oil theft, inefficient refinery maintenance, the importation of substandard petroleum products, and disruptions in fuel supply.
Bamidele clarified that contrary to media reports, the Senate had not suspended its investigation but had postponed public hearings to address procedural issues. He confirmed that both chambers are expected to form a joint committee to continue the inquiry from where the ad-hoc committee had paused.
He stated, “We are committed to unearthing the roots of economic sabotage in the petroleum industry in the national interest and developing institutional mechanisms to enhance efficiency.”
The Senator also highlighted the upcoming Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), which are critical for the preparation and approval of the yearly budget. He noted that the MTEF must be completed before the 2025 Appropriation Bill is presented to the National Assembly.
Additionally, Bamidele mentioned the ongoing review of the 1999 Constitution, led by the Deputy President of the Senate, Senator Barau Jibrin. In the coming weeks, the Constitution Review Committee will hold retreats, solicit memoranda, and conduct zonal meetings to discuss potential amendments to the Constitution.