A joint investigative session by the Senate and House of Representatives on President Bola Tinubu’s recent executive order directing the direct remittance of oil and gas revenues into the Federation Account was on Thursday adjourned after the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, asked for additional time to prepare his response.

The hearing, convened by the joint committees on Petroleum Resources and Gas of both chambers, was designed to examine the implications of the president’s directive on the oil and gas industry and the broader fiscal framework.

In attendance were Bayo Ojulari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL) and Oritsemeyiwa Eyesan, the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), alongside other senior officials.

However, shortly after proceedings began, Lokpobiri told lawmakers that he required more time to properly review relevant documents linked to the executive order.

He explained that he had been notified of the hearing only a day earlier but decided to honour the invitation out of respect for the legislature.

According to him, he and his team had yet to access critical materials necessary to adequately defend the president’s action and requested that the session be rescheduled.

Agom Jarigbe, co-chairman of the joint committee and chairman of the Senate Committee on Gas, subjected the minister’s request to a voice vote, which received majority backing from members present.

Jarigbe, who represents Cross River North, subsequently directed that a new date be communicated for the continuation of the probe.

The stalled hearing comes amid broader fiscal and legislative moves around the oil sector. (BusinessDay)