Kerosine Subsidy Probe Report Ready – Peterside

The Chairman, House of Representatives Committee on Petroleum Resources, Downstream, Hon. Dakuku Peterside has said the report of investigation into the expenditure and subsidy on kerosene is ready for submission.
Peterside said the report will be tabled before the House in the next two weeks.
It would be recalled that on Wednesday, 27 November, 2013, the House of Representatives mandated its committee on Petroleum Resources, Downstream to investigate issues surrounding the expenditure and subsidy on kerosene.
The committee had eight public hearings between February and April 2014 where Ministry of Finance, NNPC, PPPRA, DPR and the Budget Office, among others, appeared.
On the findings of the committee, the chairman enjoined all to wait until the report is laid at plenary.
He posited that it is unparliamentary for reports to be made public before its consideration by the House. The Chairman assured all Nigerians that the report will meet their expectations and help solve problems in the oil and gas supply and distribution chain.
Meanwhile, the Chairman, House of Representatives Committee on Petroleum Resources, Downstream, Hon. Dakuku Peterside has commended stakeholders in the oil and gas sector for their commitment towards finding a lasting solution to the myriad of challenges facing the industry.
He made the statement at the recently concluded 3rd Downstream Stakeholders Conference which held in Abuja, the Federal Capital Territory (FCT).
Peterside, who was in attendance with members of the committee, also lauded the resource persons and everyone in the organising chain for doing justice to the summit’s theme:  Achieving Domestic and Regional Capacity Requirements for Refined Petroleum Products”.
“I am encouraged by the determination of our people towards addressing the multitude of challenges in our oil and gas sector. Honestly, nothing would have been more patriotic. If we must rebuild Nigeria and return our country to where it rightly belongs, then we must be ready to make sacrifices, no matter how painful, and I am happy that we are all concerned”, he said.
However, Peterside asked Nigerians to join hands and to redouble their efforts in their search for answers in the sector. “Solutions to the challenges in the downstream sector require all hands to be on deck as the impact of the sector has spiral effects on all sectors of the economy. All of us admit that there are challenges and inhibitions that have made it impossible for Nigeria to realise its objectives of being the petroleum hub in West Africa”, he stated.
The two-day conference, which drew speakers both from within and outside the industry, brought new perspectives to topics like: Establishing Nigeria as the Refining Hub for West Africa; Towards Effective Management of Nigeria’s Petroleum Products Pipeline; The Challenges of Maintaining an Effective Security against Vandalism; Regulation or Deregulation: How sustainable is the present Economic Reality?; Challenges of Petroleum Products Transportation/Distribution: Strategies for Enhancement and Highlighting Strategic Investment and Partnership Potentials for Investors in the Downstream Sector, among others.
The conference, participants agreed, could not have come at a better time as the  Petroleum Downstream Committee was praised for providing the platform.
On his part, Peterside assured that the committee will continue to explore avenues that would radically improve the way Nigerians do oil and gas business.
Like most of the participants, he agreed that conferences such as this is a step in the right direction.
“We are all leaving here fulfilled and confident that a great future awaits us if we do the right things. And we can actually become the hub of petroleum activities in our sub-region and even beyond if we keep the present pace”, Peterside said.

President Goodluck Jonathan (middle), welcoming the Archbishop of Canterbury, Rt. Rev. Justin Welby, during his visit to the Presidential Villa in Abuja last Wednesday. With them is the Primate of the Anglican Communion, Most Rev. Nicholas Okoh. Photo: NAN