Investigation Opens On Lost Crude Oil And Contaminated Fuel By House Representatives

Investigation Opens On Lost Crude Oil And Contaminated Fuel By House Representatives....KINDLY READ THE FULL STORY HERE▶

The Committee Chairman, Ikenga Ugochinyere, announced the launch of an investigative probe into challenges within Nigeria’s downstream and midstream petroleum sectors during the panel’s formal inauguration in Abuja on Monday……. CONTINUE READING

The committee’s objectives include addressing critical issues such as the shortage of crude oil for domestic refineries, distribution disruptions, and allegations of favoritism in the pro forma invoice system.

Speaking to reporters, Ugochinyere stated, “Our legislative forensic investigation will scrutinize middlemen in crude trading, the indiscriminate issuance of licenses, and concerns over the absence of internationally accredited laboratories to verify product quality.”

The committee will also examine the influx of contaminated fuel, allegations of profits from crude marketing not being localized in Nigerian banks, abuse of the PFI system, and unnecessary importation of products already available locally.

To verify fuel quality, the committee plans nationwide visits to petrol stations for sample collection and laboratory testing.

The mandate for this joint committee stems from a motion passed on July 9, 2024, addressing urgent concerns in Nigeria’s petroleum industry, including fuel shortages, high costs, and operational challenges faced by refineries and distributors.

Ugochinyere emphasized the committee’s commitment to conducting a thorough forensic investigation to restore stability and confidence in the petroleum sector.