Business and Economy
NASS opts for joint probe of economic sabotage in the Petroleum Sector
Investigation of alleged economic sabotage in the petroleum sector by Ad – hoc committees separately set up by both the Senate and the House of Representatives in July , will now be jointly handled by both Chambers , said the leader of the Senate , Senator Opeyemi Bamidele .
Senator Bamidele who is the Chairman of the Ad – hoc committee set up by the Senate for the investigation, stated this in Abuja on Monday in a personally signed statement.
He said: As we return fully to the parliamentary sessions on Tuesday this week, , the National Assembly will, without ambiguity, revisit its decision to decisively address challenges in the petroleum industry.
“The industry is not optimal in its performance.
” Contrary to some media reports, the Senate never suspended its Ad-hoc Committee to Investigate Alleged Economic Sabotage in the Nigerian Petroleum Industry, but postponed its public hearing due to the need to address issues that border on the Rules of the National Assembly.
” Today, both chambers of the National Assembly will resolve the issues and possibly constitute a joint committee that will continue with the investigation from where the ad-hoc committee stopped.
” We are committed to unearthing the roots of economic sabotage in the petroleum industry in the national interest and developing institutional mechanisms that will make the industry more efficient and functional”.
He added that both Chambers are expecting new Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper ( FSP) , from the Executive which are integral parts of yearly budget preparation , consideration and approval .
“The consideration of MTEF occupies a prime place on the rung of our legislative agenda.
” This is simply because MTEF must be ready before the 2025 Appropriation Bill can be laid before the National Assembly.
“We are equally preoccupied with the review of the 1999 Constitution. In the Senate, the Constitution Review Committee is chaired by Deputy President of the Senate, Senator Barau . Jibrin.
“In the coming weeks, the Committee will hold retreats and strategy sessions; call for memoranda and organise zonal meetings on some sections of our constitution that should be amended.
” Given the pedigrees of all its members, this exercise no doubt promises a truly federative approach that will redefine and reinvent public governance in this country’, he added .
.