Reps launch probe into $35m investment in uncompleted Brass modular refinery
Fatima Ndagi
The House of Representatives has resolved to investigate the circumstances surrounding the government’s $35 million investment in a modular refinery project in Brass, Bayelsa State, which has yet to take off years after funding approval.
The decision followed a motion of urgent public importance moved by Hon. Billy Osawaru (APC, Edo) during Wednesday’s plenary, who expressed concern that despite the huge investment, “there is nothing on the ground to suggest that any work has been done.”
Adopting the motion, the House mandated its Committees on Downstream and Midstream Petroleum to conduct a thorough investigation into the alleged financial irregularities and report back for further legislative action.
Leading the debate, Osawaru recalled that the Nigerian Content Development and Monitoring Board (NCDMB) in 2020 invested $35 million in Atlantic International Refinery and Petrochemical Limited, a proposed modular refinery in Brass, Bayelsa State.
He lamented that, despite the investment amounting to over ₦50 billion there is no physical evidence of any project development, describing it as a “monumental economic waste.”
Osawaru noted that modular refineries were conceived under the Buhari administration as part of efforts to boost indigenous refining capacity in the Niger Delta, enhance revenue generation, reduce forex pressure, and create jobs.
He further emphasized that President Bola Ahmed Tinubu’s Renewed Hope Agenda identifies indigenous refining as a critical pillar for achieving energy independence and industrial revitalization.
Expressing frustration over the lack of progress, Osawaru said:
“In May 2024, a stakeholder submitted a petition to the Economic and Financial Crimes Commission (EFCC) urging it to probe the multi-million-dollar investments made by the NCDMB, including the Atlantic Refinery project. Yet, almost a year later, nothing has been heard about this profound national waste.”
He added that the inactivity of the Brass modular refinery project raises serious questions about the management of public funds and the efficiency of government oversight mechanisms.
The House consequently resolved to investigate the matter to ensure accountability and prevent further misuse of public resources.
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