The Nigerian House of Representatives is to conduct a comprehensive audit of funds spent on the rehabilitation and maintenance of refineries in the country.
This was to ensure that the refineries are effectively put to use as the prudent management of public funds in line with the Legislative Agenda of the 9th National Assembly.
In a motion under matters of urgent public importance, unanimously adopted, the House expressed concern that NNPC had allegedly spent about Twenty- Five Billion Dollar for turn around maintenance of refineries in the last Twenty-Five years.
Presenting the motion, Mr. Onofiok Luke, a Member from Akwa Ibom, said the NNPC 2014-2018 Audit Report indicated that the Nation’s four Refineries had recorded over N1.6 Trillion cummulative losses within the period.
Mr. Onofiok expresed concern that “The lack of maintenance of the nation’s refineries is unfortunate, government over the years has through the Nigerian National Petroleum Corporation (NNPC) spent huge unverified funds on the refineries, but still no result to show.
Mr. Speaker how can huge operational costs be claimed from the nation’s refineries when they have not been functioning for years?”
Adopting the motion, the House urged the executive arm of government to grant licences and provide incentives for the building and construction of Modular Refineries in the country.