•Dismiss money laundering petition against EVP
By Gift ChapiOdekina
Abuja—The House of Representatives Committee on Petroleum Resources (Downstream) has dismissed a petition alleging conflict of interest and money laundering against NNPC’s Executive Vice President (Downstream), Dr. Mumuni Dagazau, saying the petitioners failed to provide documentary evidence to substantiate their claims.
It also passed a vote of confidence on President Bola Tinubu and the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, NNPCL, citing improvements in domestic refining, crude oil supply and stability in the downstream petroleum sector.
Chairman of the committee, Ikenga Imo Ugochinyere, announced the decisions during proceedings on pending matters and the federal government’s downstream sector reforms in Abuja yesterday.
Ugochinyere said the committee’s decision followed a review of its subcommittee’s report, which found that the petitioners, the Coalition for Transparency and Accountability in Nigeria’s Petroleum Sector, failed to substantiate their allegations against Dagazau.
According to him, the petitioners appeared before the subcommittee on October 21 but presented newspaper clippings rather than documentary evidence to support allegations as serious as money laundering.
He said they were given further opportunities to provide supporting documents but failed to return on Thursday and Friday, October 22 and 23.
On the other hand, he said Dagazau honoured the committee’s invitation through his representatives, who responded to the inquiries raised by the subcommittee.
“An allegation is not evidence, and a newspaper clipping is not proof,” Ugochinyere said, announcing the dismissal of the petition in its entirety.
The committee chairman condemned what he described as a frivolous petition, warning that the National Assembly would not allow its oversight proceedings to become a platform for unsubstantiated attacks on public officials.
He, however, maintained that the committee remained open to investigating allegations of wrongdoing against public officers where credible evidence was provided.
The committee also granted its subcommittee investigating NIPCO Plc an additional 14 days to conclude its assignment.
Reps reject blanket fuel subsidy return
On the contentious issue of fuel subsidy, the committee chairman argued that a return to the former nationwide subsidy regime would impose a significant burden on public finances.
He said Nigerians consumed about 50 million litres of petrol daily and that, based on the federal government’s estimates, restoring the former pump price would cost more than N20 trillion annually.
According to him, such expenditure will approach the total amount shared among the federal, state and local governments through the Federation Account in 2025.
“A blanket subsidy does not lower the cost of fuel; it only changes who pays, and when,” he said.
Ugochinyere argued that relief measures should instead be targeted, temporary and affordable, insisting that any subsidy proposal must clearly state its cost, funding source and expected pump price.
He cited recent interventions by NNPC Retail, including a N66-per-litre petrol discount introduced on October 1 and an October 8 announcement that the company would forgo its profit margin and sell petrol at cost for 30 days.
He said the intervention prioritised commercial transport operators responsible for moving passengers and food across the country.
According to him, the arrangement was not a return to subsidy because the relief was being provided through NNPC Retail’s profit margin rather than a direct charge on the public treasury.
CNG expansion, refinery rehabilitation
The committee chairman also highlighted developments in the rehabilitation of the Port Harcourt and Warri refineries, saying prospective technical partners had conducted on-site assessments to determine how the facilities could return to reliable and commercially sustainable operations.
He said the reforms had also expanded investment opportunities in the CNG and LPG markets, with more than 120,000 vehicles now running on CNG.
NNPC Limited, he added, had acquired 500 CNG-powered trucks for petroleum product distribution and delivered 35 CNG hybrid buses to the Presidential CNG Initiative.
Ugochinyere further disclosed that NNPC Retail commissioned its first solar-powered smart energy station in Abuja in September, combining petrol, cooking gas, CNG and electric vehicle charging facilities.
He said between 50 and 70 similar stations were expected to be rolled out nationwide within six months.
The committee chairman attributed the developments to the Tinubu administration’s reforms and commended NNPC’s management and Dagazau for their contributions to the downstream sector.
Committee unveils energy security roadmap
To sustain the gains, Ugochinyere said the committee had adopted a nine-pillar Roadmap to Downstream Energy Security, covering enforceable crude supply obligations for domestic refineries, amendments to the Petroleum Industry Act, a regulated import market and the establishment of a national strategic stock.
Other priorities include nationwide fuel-quality laboratories, accelerated CNG and gas infrastructure development, improved pipeline security, fair and transparent pricing with targeted relief, and firm timelines for the rehabilitation of state-owned refineries.
He said the committee would continue to monitor the implementation of the reforms and hold relevant agencies accountable for their performance.
“The Renewed Hope downstream sector agenda is working,” he said.
The committee’s decisions come amid continuing pressure on petrol prices following the removal of fuel subsidy and volatility in international crude oil markets, developments that continue to affect transportation costs, food prices and household spending across Nigeria.
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