…Seek Answers from NCDMB Over Unaccounted Investment
The House of Representatives has initiated an investigation into the abandoned $35 million modular refinery project in Brass, Bayelsa State, four years after the Nigerian Content Development and Monitoring Board (NCDMB) reportedly injected huge sums of public funds into its development.
The resolution followed the adoption of a motion of urgent public importance on Wednesday, sponsored by Hon. Billy F. Osawaru, who condemned the project as a “colossal economic loss” and an indication of Nigeria’s poor accountability structure.
While presenting the motion, Osawaru recalled that in 2020, the NCDMB committed $35 million, approximately ₦50 billion, to Atlantic International Refinery and Petrochemical Limited for the establishment of a modular refinery in Brass. However, he lamented that there is nothing tangible on site to justify the investment.
According to him, the project was conceived under a Federal Government initiative to promote modular refineries across the Niger Delta region, aimed at reducing the nation’s reliance on imported petroleum products, creating employment opportunities, and boosting national income. It was also expected to curb the environmental degradation associated with illegal oil refining in host communities.
Osawaru further noted that the immediate past administration had championed several modular refinery initiatives through the NCDMB to strengthen local refining capacity, while the present government under President Bola Ahmed Tinubu’s Renewed Hope Agenda continues to prioritise energy independence, local participation, and industrial expansion.
However, he expressed deep concern that the Brass refinery project has failed to take off despite the significant funds expended.
“This $35 million investment was supposed to transform the energy landscape and empower young people in the Niger Delta. Unfortunately, four years later, there is no sign of progress or accountability,” he lamented.
The lawmaker reminded the House that a previous attempt to investigate the project yielded no meaningful outcome. He also referred to a petition submitted to the Economic and Financial Crimes Commission (EFCC) in May 2024, requesting a probe into the NCDMB’s multi-million-dollar investments in modular refineries, including the Brass project, which, according to him, has yet to produce any visible results.
Osawaru warned that the continued silence surrounding the matter erodes public trust in the nation’s anti-corruption efforts and raises serious questions about the management of government resources.
“The lack of transparency surrounding this project is alarming. We cannot stand idly by while projects funded with taxpayers’ money disappear without explanation,” he stated.
After considering the motion, the House mandated its Committee on Midstream and Downstream Petroleum to investigate the matter and submit a comprehensive report within four weeks for further legislative action.
The committee is expected to summon officials of the NCDMB, representatives of Atlantic International Refinery and Petrochemical Limited, and other relevant stakeholders to explain the status of the project and recommend measures to recover public funds if necessary.
COURTESY: independent.ng
