The House of Representatives has resolved to urgently probe all circumstances surrounding the abandonment of $35 million modular refinery project in Brass local government area of Bayelsa State.
A lawmaker from Bayelsa state Hon. Billy Osawaru had raised a motion of urgent public importance over the neglected project even as he also expressed deep concern that despite the wooping sum of $35M (over ₦50 billion) investment, there is no physical evidence of any refinery project in Brass to justify such huge expenditure.
While presenting his lead debate for the motion, the lawmaker lamented that 4years after the Federal Government, through the Nigerian Content Development and Monitoring Board, NCDMB, had made a huge financial commitment to the project establishment, nothing tangible has taken place.
He, however described the situation as a monumental economic waste that undermines the government’s efforts to boost indigenous refining and rifinary for the purpose of ensuring energy security and stability.
Osawaru also used the opportunity to recall that the NCDMB had in 2020 invested the sum in Atlantic International Refinery along with Petrochemical Limited as part of it frantic efforts to encourage modular refining in the Niger Delta region with the sole aimed of reducing dependence on imported petroleum products.
The lawmaker further stressed that under norman circumstances the rifinary should have creating jobs as well as strengthening Nigeria’s foreign exchange position.
He lamented that nothing tangible has been achieved since the funds were released urging for urgent measure to address the issue.
Meanwhile, the lawmaker said he was not happy about the project abandonment lamenting that despite previous efforts by the House to investigate the project little or no result have been achieved.
According to him a petition has since been submitted to the Economic and Financial Crimes Commission, EFCC, since May 2024 maintaining that no singular progress or accountability report has 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 oversight.
In adopting the motion, the House resolved to set up an Ad-hoc Committee to urgently probe the financial commitments made to the Brass Modular Refinery project as well as identify all reasons for its abandonment and make good recommendations.
The ad-hoc committee is expected to report back its findings within four weeks for further legislative action.
