Nigeria Petroleum Committee passes votes of confidence amid sector probes

The Nigerian House of Representatives Committee on Petroleum Resources (Downstream) has passed votes of confidence in President Bola Tinubu, the leadership of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), and Alhaji Aliko Dangote. Committee Chairman Hon. Ikenga Ugochinyere reported that domestic refinery contributions to national petrol supply have increased by over 75 per cent, resulting in zero supply shortfalls and maintaining over 25 days of national sufficiency.

Simultaneously, the committee has launched investigations into several allegations within the sector. Two sub-committees have been formed to probe petitions regarding the potential cancellation of gas distribution licences held by NIPCO Plc in several states, including Lagos and Ogun. Additionally, the committee is investigating allegations of money laundering and abuse of office involving Dr. Mumuni Dagazau, Executive Vice President (Downstream) of NNPC Limited.

Ugochinyere emphasized that these investigations are preliminary and that no conclusions have been reached. The committee also noted its rejection of a World Bank recommendation regarding import licences, asserting that Nigeria’s energy policy must be domestically driven. Other initiatives mentioned include the commissioning of a petroleum product laboratory and the establishment of a framework for a National Strategic Stock.