Senate to look into money spent on refinery upkeep since 2010

Senate to look into money spent on refinery upkeep since 2010The Senate decided to order the Committee on Downstream Petroleum to look into each contract awarded for the renovation of all state-owned refineries between 2010 and 2023.

The Senate's resolutions on Tuesday came after a motion that said, "Urgent Need to investigate the various Turnaround Maintenance (TAM) Projects of Nigerian Refineries to uncover waste and prevent further squandering of scarce public resources."

Kogi West senator Karimi Sunday Steve served as its primary sponsor.

Despite spending N11.35 trillion on the maintenance of the country's moribund refineries, the Senate expressed disapproval of what they perceived as sabotage of the Federal Government's efforts to restore the nation's refineries.

"Nigeria is expected to have spent N11.35 trillion (N11,349,583,186,313.40) between 2010 and the present, excluding various costs in other currencies, including $592,976,050.00 in dollars, 4,877,068.47 in euros, and 3,455,656.93 in pounds on the renovation of refineries, although they are still idle.

Also aware that, due to Nigeria's low refining capacity, the Federal Government of Nigeria spent more than N6 trillion Naira between 2010 and 2023 on fuel subsidies and nearly twice that amount between 2010 and 2022 to renovate (turnaround maintenance projects) its refineries in Port Harcourt, Kaduna, and Warri.

The urgent need for security authorities to look into what caused the bank robbery attack in Otukpo on Friday, October 20, was also brought up by the Senate.

Nearly eight people, including four police officers, were killed during the robbery.

It demanded an explanation for the police's lack of knowledge and awareness on the day of the incident.


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