ABUJA (Sundiata Post) – The House of Representatives has resolved to conduct a forensic investigation into the current scarcity of Premium Motor Spirit ( PMS), which has resulted in resurgence of fuel queues across the country.
Consequently, the House mandated the its Committee on Petroleum (Downstream) and Petroleum ( Midstream) to undertake the probe and report back to it for further legislative actions.
This followed the adoption of a motion by Billy Osawaru and Philip Agbese, on urgent need to undertake a forensic investigation into the challenges affecting the downstream and midstream petroleum sectors in the country.
The panel, which has the Ikeagwuonu Ugochinyere led Committee on Petroleum ( Downstream)as the lead committee is also expected to investigate the Nigerian Petroleum Company Limited ( NNPCL) and other operators in the downstream sectors over allegations of high cost of PMS, unavailability of fuel stock for downstream domestic refineries.
The joint Committee in the course of its assignment is equally to probe allegations of unfair subsidization of PMS and other petroleum products racketeering and favouritism in the Pro Forma Invoice System (PFI) regime, indiscriminate issuance of licenses and importation of refined petroleum products.
It is also to investigate allegations “of PMS price intervention, allegation of product unavailability to marketers from NNPC Retail, endless shifting of timelines for refinery rehabilitation, the nefarious activities at petrol depots, presence of middlemen in trading, indiscriminate issuance of licenses, unavailability of laboratories to check adulterated products. “
Furthermore, the panel is to investigate alleged “influx of adulterated products into the country, allegation of non domestication of profits realized from crude marketing sales in local banks, abuse of the PFI regime, importation of products already being produced in Nigeria, use of international trading companies to resell fuel stock to local refineries,” among others.
