By Paul Effiong, Abuja
House of Representatives has resolved to probe the circumstances surrounding the abandonment of a $35 million modular refinery project in Brass Local Government Area of Bayelsa State.
A lawmaker, Billy Osawaru had raised a motion of urgent public importance over the neglected project, expressing concern that despite the wooping $35 million (over N50 billion) investment, there is no physical evidence of any refinery project in Brass to justify such huge expenditure.
While presenting his lead debate, the lawmaker lamented that four years after, the federal government through the Nigerian Content Development and Monitoring Board, NCDMB, had made huge financial commitment to the project, but nothing tangible had taken place.
He described the situation as a monumental economic waste that undermines government’s efforts to boost indigenous refining, energy security and stability.
Osawaru recalled that NCDMB had in 2020 invested the sum in Atlantic International Refinery to encourage modular refining in the Niger Delta region with the aim of reducing dependence on imported petroleum products.
The lawmaker stressed that under normal circumstances, the refinery should be creating jobs, as well as strengthen Nigeria’s foreign exchange position.
He lamented that nothing tangible had been achieved since the funds were released, calling for urgent measure to address the issue.
According to him, a petition has been submitted to the Economic and Financial Crimes Commission, EFCC, since May 2024 and no progress or accountability report had been made public.
He, therefore, warned that continued silence on the matter will raise serious questions about transparency, financial prudence and the effectiveness of government’s oversight.
In adopting the motion, the House resolved to set up an ad-hoc committee to urgently probe the financial commitments made to the project, as well as find the reasons for its abandonment and make good recommendations.
The ad-hoc committee is expected to report its findings within four weeks for further legislative action.
