Senate to probe funds spent on maintenance of refineries since 2010

The Senate has resolved to mandate its Committee on Downstream Petroleum to probe every contract awarded for the rehabilitation of all the state-owned refineries between 2010 and 2023.

Tuesday’s resolutions of the Senate followed a motion titled “Urgent Need to investigate the various Turnaround Maintenance (TAM) Projects of Nigerian Refineries to uncover waste and prevent further squandering of scarce public resources.”

It was sponsored by Senator Karimi Sunday Steve, representing Kogi West.

The Senate frowned at what they perceive as sabotage of the Federal Government’s effort to revive the nation’s refineries, in spite of N11.35 trillion spent on maintenance of the moribund refineries.

“Between 2010 and the present date, Nigeria is estimated to have spent N11.35 trillion (N11,349,583,186,313.40) excluding other costs in other currencies, which include $592,976,050.00 dollars, 4,877,068.47 euros, and 3,455,656.93 pounds on the renovation of refineries, yet they remain unproductive.

“Also aware that the Federal Government of Nigeria has spent over N6 trillion Naira between 2010 and 2023 on fuel subsidies due to Nigeria’s low refining capacity and has spent almost twice the amount on rehabilitating (turnaround maintenance projects) its refineries in Port Harcourt, Kaduna, and Warri between 2010 and 2022.”

Meanwhile, the Senate also raised the urgent need for security agencies to investigate what led to the Otukpo bank robbery attack on Friday, October 20.

The robbery incident claimed the lives of nearly eight persons including four police personnel.
It called for explanations behind the lack of intelligence and alertness on the part of the police on the day of the attack.