Reps to probe abandoned $35m modular refinery in Bayelsa

The house of representatives has resolved to investigate the abandoned $35 million modular refinery in Brass, Bayelsa state.

The lower legislative chamber passed the resolution during plenary on Wednesday, following the adoption of a motion of urgent public importance sponsored by Billy Osawaru, a lawmaker from Edo.

Moving the motion, Osawaru said in 2020, the Nigerian Content Development and Monitoring Board (NCDMB) invested $35 million in Atlantic International Refinery and Petrochemical Limited, a modular refinery in the oil-rich state.

The lawmaker said despite the “huge investment,” the proposed modular refinery was never built.

“Nothing is on the ground to show that huge financial commitments had been made,” he said.

The legislator said the lower chamber, through its committee, had attempted to “unravel the mystery” behind the “monumental economic sabotage,” but nothing has been heard about the matter.

He said the modular refinery project’s continued inactivity raises significant questions about the management of public funds and the effectiveness of oversight mechanisms in Nigeria.

Kingsley Chinda, the minority leader, said Nigeria should not be a country that consumes both profit and investment, stressing that the sector remains the nation’s economic backbone.

“It appears that those in public office are setting our nation back,” he said.

The minority leader said the committee must do “thorough work” on the investigation.

The motion was adopted after Benjamin Kalu, the deputy speaker, called for a voice vote.

Consequently, the house mandated the committees on midstream and downstream to probe the abandoned refinery.

In December 2024, the federal high court in Abuja remanded Akintoye Akindele, chief executive officer (CEO) of Duport Midstream Company Limited, at the Kuje correctional centre.

Akindele was arraigned by the Economic and Financial Crimes Commission (EFCC) on a four-count charge bordering on money laundering and contract fraud.

The anti-graft agency accused Akindele of allegedly collecting $35 million from NCDMB to build a 2,000-barrel-per-day refinery.

The EFCC claimed that Akindele received the funds through the bank account of Atlantic International Refinery and Petrochemical Limited and funnelled the monies into four of his companies and bureau de change outlets.