Following a matter of urgency to address persistent challenges within Nigeria’s oil industry, the Senate has reconstituted its ad-hoc committee to investigate alleged economic sabotage in the petroleum sector. The announcement came during a plenary session chaired by the Deputy President of the Senate, Senator Barau Jibrin.
Senate Leader Senator Opeyemi Bamidele, who also leads the newly formed committee, introduced the motion, underscoring the importance of collaborative action between both chambers of the National Assembly. The House of Representatives has already established its own ad-hoc committee to investigate related concerns.
Bamidele highlighted the need for a unified approach to avoid duplicating efforts, proposing that the committee be recognised as the “National Assembly Joint Ad-hoc Committee to Investigate Alleged Economic Sabotage in the Nigerian Petroleum Industry.” The Senate subsequently agreed to formally request that the House appoint an equal number of members to ensure effective collaboration.
This joint initiative aims to thoroughly address pressing issues within Nigeria’s petroleum industry, which has faced allegations of sabotage and corruption. According to legislative experts, the Senate’s proactive move signals a strong commitment to enhancing transparency and accountability in managing Nigeria’s vital oil resources.
As these steps unfold, there is growing anticipation that this investigation will strengthen the fight against illegal activities in the sector, including oil bunkering and theft. The recent creation of a specialised police unit to combat such crimes emphasises the urgent need for decisive action against economic sabotage in Nigeria’s oil industry.
A legislative aide, Arthur Odion, shared on social media that “the reconstitution of this committee represents a pivotal step towards safeguarding Nigeria’s petroleum assets and directly addressing challenges affecting the sector.”
Meanwhile, the Implementation Committee on the Sales of Crude Oil and Refined Products in Naira, led by Finance Minister Mr. Wale Edun, recently held its second review meeting. This meeting focused on evaluating Nigeria’s transition to a deregulated market for Premium Motor Spirit (PMS) and introducing a direct purchasing model for petroleum product marketers, enabling them to procure PMS directly from local refineries.
