SENATE INVESTIGATES N11 TRILLION TURN AROUND REFINERY MAINTENANCE FUND FOR THE LAST 13YEARS
Written by Tunde Adeyemi on October 25, 2023
The Senate has begun investigation of the over N11 trillions spent on turn around maintenance of the nation’s refineries between 2010-2023 to forestall further waste of public resources.
The decision is in wake of a motion sponsored by Senator Sunday Karimi who stated that various releases in the past, from 2010 till 2023 have not achieved desired results.
Karimi said the estimated total of N11.3 trillion spent so far, excludes other cost in other currencies and yet they are unproductive.
The senator lamented that the nation’s refineries have become money pit as well as conduit pipe for siphoning government money while citizens continue to groan over high cost of petroleum products due to moribund situation of state-owned refineries.
The Senate after deliberating on the motion, set up an adhoc committee to be chaired by Senator Isa Jubril to investigate all contracts awarded for the rehabilitation of all state-owned refineries between 2010 and 2023 to ascertain progress, forestall waste and corruption and to come up with the best approach to commercialize and ensure profitability of the State-owned Refineries.
The committee is also to invite the NNPCL NUPRC and LNG to explain the nation’s preparation for Green Energy Sources in line with the Paris Agreement in Climate Change