•House of Representatives
The House of Representatives Committee on Petroleum Resources (Downstream), chaired by Hon. (Barr.) Ikenga Ugochinyere Ikeagwuonu, has concluded its three-day retreat in Owerri with a sweeping set of resolutions, headlined by a demand for the long-term renewal of the pipeline surveillance contract awarded to Tantita Security Services Nigeria Limited (TSSNL).
The committee commended the Joint Committee of the National Assembly for its principled and objective stance on the Tantita contract, noting that the alignment between both chambers sends a strong signal to stakeholders in the sector, reports The Guardian.
A major outcome of the retreat was the endorsement of both the immediate and long-term renewal of the Tantita contract, alongside a recommendation that the company be designated as a Company of National Strategic Importance.
Opening the retreat, the Committee Chairman, Ugochinyere, paid tribute to Alhaji Aliko Dangote, describing his refinery as “a national treasure built by Nigerian capital for the Nigerian people.”
However, the Committee expressed concern over the persistent failure to ensure a steady supply of crude oil to indigenous refineries. It described the situation not as a market issue, but as a governance failure that requires legislative intervention.
In another key resolution, the Committee condemned the World Bank’s Nigeria Development Update of April 7, 2026, which recommended the reinstatement of petroleum import licences on the grounds that imported fuel is cheaper than products from the Dangote Refinery.
The committee rejected the recommendation as contrary to Nigeria’s economic interests and an unacceptable interference in the country’s sovereign petroleum policy. It gave the World Bank 30 days to issue a public retraction and written apology.
Security agencies, including the DSS, EFCC, and NIA, were directed to investigate alleged activities of foreign petroleum trading interests working against Nigeria’s domestic refining sector. The Ministry of Foreign Affairs was also advised to lodge a formal diplomatic protest.
The committee further disclosed that it had received credible information suggesting that some international oil companies (IOCs) and indigenous firms have been purchasing crude oil at below-market prices despite high global rates, resulting in significant revenue losses for the federation.
To address this, a sub-committee on Crude Pricing and Revenue Integrity has been established, with a mandate to report within 45 days.
“The nation is losing revenue. We will find it,” the Chairman stated.
The retreat also noted significant progress on proposed amendments to the Petroleum Industry Act (PIA), with six legislative priorities already at advanced drafting stages, including a new Crude Pricing Oversight and Revenue Protection Framework.
In addition, the Committee resolved to formally summon the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL) for further engagement.
