Reps probe $35m Brass Modular Refinery project

By Gift ChapiOdekina

The House of Representatives has resolved to analyse the abandoned $35 cardinal modular refinery task successful Brass, Bayelsa State, contempt important fiscal commitments made 4 years ago.

The determination followed the adoption of a question of urgent nationalist value moved by Rep. Billy Osawaru connected Wednesday during plenary.

In his question titled “Need to Investigate the Abandoned $35 Million Modular Refinery Project successful Brass, Bayelsa State, Four Years After Financial Commitments”, Osawaru expressed interest that the project, funded by the Nigerian Content Development and Monitoring Board (NCDMB), has shown nary disposable advancement since inception.

He noted that successful 2020, the NCDMB invested $35 cardinal (over ₦50 billion) successful Atlantic International Refinery and Petrochemical Limited, a modular refinery projected for Brass, Bayelsa State, arsenic portion of efforts to boost indigenous refining capableness and trim unit connected Nigeria’s overseas exchange.

“Despite this important investment, the projected modular refinery was ne'er established, and determination is small grounds of advancement connected the project,” Osawaru said.

The lawmaker recalled that the House had antecedently mandated applicable committees to analyse the substance and that a petition was submitted to the Economic and Financial Crimes Commission (EFCC) successful May 2024 seeking a probe into NCDMB’s multi-million dollar investments, including the Brass refinery project. However, nary updates person been received.

Osawaru emphasized that the Tinubu administration’s Renewed Hope Agenda identifies indigenous refining arsenic a cardinal operator of vigor independence, occupation creation, and concern growth, and helium stressed that the non-execution of the task affects nationalist goals for vigor information and economical sustainability.

Following the adoption of the motion, the House resolved to acceptable up an ad-hoc committee to analyse the circumstances surrounding the $35 cardinal concern successful the modular refinery and study backmost wrong 4 weeks.

Lawmakers said the probe aims to uncover reasons for the non-execution of the task and to guarantee accountability successful the absorption of nationalist funds allocated for nationalist development.

The station Reps probe $35m Brass Modular Refinery project appeared archetypal connected Vanguard News.