The House of Representatives has ordered an investigation into the stalled $35 million modular refinery project in Brass, Bayelsa State, amid rising claims over the disappearance of funds and lack of progress four years after its launch.
The resolution followed a motion of urgent public importance moved on Wednesday by Rep Billy Osawaru, who described the situation as a glaring case of neglect despite financial commitments made through the Nigerian Content Development and Monitoring Board (NCDMB).
In 2020, the NCDMB invested $35 million (over N50 billion) into Atlantic International Refinery and Petrochemical Limited to establish a modular refinery in Brass, aimed at boosting indigenous crude processing capacity and reducing Nigeria’s reliance on imported petroleum products.
"Despite this substantial investment, the proposed refinery has not materialised, and there is little to no evidence of physical progress on the ground," Osawaru said.
The lawmaker added that the House had previously mandated a probe into the matter, and a petition was submitted to the Economic and Financial Crimes Commission (EFCC) in May 2024.
According to him, the petition had sought clarification on NCDMB’s multi-million-dollar ventures, including the Brass project, but no feedback or investigative outcome has been reported.
Osawaru maintained that the Tinubu administration’s Renewed Hope Agenda prioritises indigenous refining as a strategy for energy security, job creation and industrial growth.
He insisted that the non-execution of the Brass refinery undermines the Renewed Hope Agenda's objectives.
Following debate, the House resolved to constitute an ad-hoc committee to investigate the circumstances surrounding the $35 million investment, determine reasons for the project's abandonment and recommend measures to ensure accountability in the use of public funds.
The committee is expected to report back to the House within four weeks.
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