Breaking: Lawmakers begin probe of missing crude oil

The Joint Committee of the House of Representatives is conducting a forensic investigation into the challenges affecting the downstream and midstream petroleum sectors.

The Chairman of the committee, Ikenga Ugochinyere, made this announcement during the official inauguration of the panel in Abuja on Monday.

In addition to the contaminated fuel imports, the investigative panel will also examine other critical issues, including; the alleged scarcity of crude oil supply to local refineries, disruptions in the distribution network, claims of favouritism and unfair practices in the pro forma invoice system.

Briefing newsmen at the event, Ugochinyere said, “The committee will conduct a legislative forensic investigation into the presence of middlemen in crude trading, indiscriminate issuance of licences and alleged unavailability of international standard laboratories to check adulterated products.”

He noted that the panel would also probe the possible influx of contaminated products into the country and “the allegation of non-domestication of profits realised from crude marketing sales in local banks, abuse of the PFI regime and importation of products already being produced in Nigeria.”

As part of its investigation, the panel plans to conduct a nationwide inspection of petrol stations, collecting fuel samples from each location for laboratory analysis.

The mandate of the joint committee is sequel to the adoption of a motion on July 9, 2024, on the “Urgent need to carry out a legislative forensic investigation into the challenges affecting the downstream and midstream petroleum sectors in Nigeria and other related matters to find out a lasting solution to all challenges,” affecting the petroleum industry.

More details soon…