. Reps Cttee re-ignite probe on Refineries, OVH acquisition deal
The House of Representatives’ Committee on Petroleum Resources (Downstream) has constituted 10 Technical Sub-Committees designed to re-ignite the now dormant inquest into the operations of the nation’s refineries and the controversial acquisition of OVH by the Nigerian National Petroleum Company Limited under the remit of Dapo Segun as the Executive Vice President, Downstream who now functions as the Company’s Chief Finance Officer.
Briefing journalists in Abuja, Chairman of the Committee, Hon. Ikenga Ugochinyere said the setting up of the following Technical Sub-Committees is to aid the larger Committee in the carrying out its functions effectively.
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Hon. Ugochinyere while reeling out the general terms of reference expected of these Technical Sub-Committees said: “they shall work towards 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.”
The names of the Technical Sub-Committees are as follows:
Allegation of Dangote Refinery planned take-over of Petroleum Products transportation/retailing, Turnaround maintenance of refineries /state of the refineries/ suggested way out, OVH Acquisition and complaints from NNPC Retail Staff/House ordered re-investigation.
Others are Complaints on lack of feed stock by modular refinery/ strengthening of small/modular refineries, and Areas of amendment of PIA to strengthen NMDPRA/downstream petroleum sector.
This also includes Floating of inaugural edition of annual Downstream Petroleum Week event, Issue of the incorporation of Artisanal Miners into the petroleum refining value chain, Investigation into the alleged abandonment of Biomas Ethane project, as well as Allegation and counter allegation over the continued importation of fuel and protection of local refiners- legislative solutions and Petrol products marketing/transportation/distribution and Complaints by relevant unions over fear of monopoly.
During his tenure as EVP Downstream, the sector was allegedly bedeviled with handful of crisis including; long fuel queues and general sense of disharmony among key players and stakeholders in the downstream sector.
As EVP Downstream he was directly in charge of coordinating and implementation of the now controversial refinery rehabilitation exercise and also played central role in the NNPCL’s acquisition of OVH Energy—an undertaking which was largely promoted as strategic to the national oil company’s growth aspirations but now facing scrutiny about its pricing and alignment which Segun formulated and championed.
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