The House of Representatives has directed its committees on midstream and downstream petroleum sectors to investigate the circumstances surrounding the stalled $35 million modular refinery project in Brass, Bayelsa State, which was financed by the Nigerian Content Development and Monitoring Board (NCDMB).
The resolution was passed during Wednesday’s plenary session following the adoption of a motion of urgent public importance moved by Hon. Billy Osawaru from Edo State.
The lawmaker noted that in 2020, the NCDMB invested $35 million in Atlantic International Refinery and Petrochemical Limited with the aim of establishing a 2,000-barrel-per-day modular refinery to promote local refining capacity and create jobs in the Niger Delta.
Osawaru said that despite the significant public investment, the project site remains undeveloped.
“Nothing is on the ground to show that huge financial commitments had been made,” he told the chamber, describing the situation as “a mystery that borders on economic sabotage.”
He recalled that a committee of the House had previously sought to uncover what happened to the funds but that no tangible progress had been reported. The lawmaker said the continued inactivity of the project raises concerns about the management of public resources and the adequacy of oversight in the oil and gas sector.
Contributing to the debate, Minority Leader Kingsley Chinda said the issue reflects a wider pattern of financial mismanagement that undermines national development.
“Nigeria should not be a country that consumes both profit and investment,” he said, adding that the petroleum sector remains central to the country’s economic stability.
Chinda urged the House committees to “do thorough work” to establish accountability for the failed project and ensure that those responsible are identified.
Deputy Speaker Benjamin Kalu, who presided over the session, called for a voice vote, after which the motion was unanimously adopted. The House subsequently mandated the relevant committees to commence a detailed probe into the status of the refinery and report back with findings and recommendations.
The probe comes amid ongoing legal proceedings linked to the same project. In December 2024, the Federal High Court in Abuja remanded Dr. Akintoye Akindele, Chief Executive Officer of Duport Midstream Company Limited, following charges filed by the Economic and Financial Crimes Commission (EFCC).
Akindele was accused of collecting the $35 million investment from the NCDMB for the construction of the Brass refinery through the account of Atlantic International Refinery and Petrochemical Limited, but allegedly diverted the funds through other companies and bureau de change operators.
The EFCC alleged that the transaction violated the terms of the investment and constituted money laundering and contract fraud. The matter remains under investigation by the anti-graft agency, even as the House begins its own inquiry into the use of public funds for the project.
Lawmakers say the investigation will test Nigeria’s commitment to transparency and the practical enforcement of its local content and anti-corruption policies in the oil and gas industry.
