The House of Representatives Committee on Petroleum Resources (Downstream) has launched an investigation allegation and counter allegation over the continued importation of fuel and seeks to profer legislative solutions to protect local refiners.

The Committee, chaired by Ikenga Ugochinyere on Wednesday launched Technical Sub-committees to carry out series of investigations. The committee is investigating huge investments into the Turnaround Maintenance of local refineries and why the exercise has not yeileded any result.

The committee is also investigating the allegation of Dangote Refinery’s planned takeover of Petroleum Products transportation/retailing; OVH Acquisition and complaints from NNPC Retail Staff; Complaints on lack of feedstock by modular refinery/ strengthening of small/modular refineries; and Issue of the incorporation of Artisanal Miners into the petroleum refining value chain.

Speaking at a press briefing, Ugochinyere said it was disturbing that after the hype that greeted the return of the Port Harcourt and Warri refineries to production status, they had shut down again.

According to him, the House intend to find out what went wrong, especially when considered against the backdrop that the company handling the turn around maintenance is a reputable company, adding that before considering whether or not the refineries should wither be sold or privatised, the House will find out what went wrong.

He said the House Committee has received several petitions on issues affecting the petroleum sector, adding that the Committee will find a permanent solution to the issue, especially when it has to do with providing stock for modular and other local refineries.

He said the House has also received several petitions from refinery owners, oil marketers and retailers on the bottleneck they are having, adding that they have complained about their huge investment, which is likely to be affected by certain policies, especially the allegation of Dangote Refinery’s planned takeover of Petroleum Products transportation/retailing.

He said the stakeholders have complained that their investment in the country will be impacted negatively if the policy is allowed to subsist, adding that oil retailers have also complained about the likely takeover of their business, which has led to tension across the country.

Ugochinyere said the committee will reopen investigation into the acquisition of OVH and the complaints from NNPC Retail Staff, adding that the House had rejected the report of an earlier investigation into the matter and ordered the committee to reopen the matter.

The House, he said, will look at ways of amending the Petroleum Industry Act to address emerging issues not covered by the law, saying the committee intend to put together all such areas of amendment for the approval of the House with a view to strengthen NMDPRA/downstream petroleum sector.

He disclosed that the Committee resolved to dismiss the petition asking for the dissolution of the NMDPRA because the PIA c’nfer the appointing powers on the President, adding that “we cannot go back to the old order where every government fires people anyhow.

“We are not out to protect anybody. If anybody is found to have been engaged in corrupt activities, the law should be allowed tk take it’s course”.

He assured that the House will not allow any monopoly in the oil sector of the country, assuring that all the sub committees set up willl fast-tracking the investigation of pending referrals to the Committee, address crucial matters and developments that have arisen, which threaten sustainability in the downstream sector, with a view to making the downstream sector stronger and more viable. (BusinessDay)