NASS to Tackle alleged economic sabotage in Oil sector– Senate Leader Bamidele

By: Anayo Akwiti

The leader of the Nigerian Senate, Senator Michael Opeyemi Bamidele (APC, Ekiti Central), has announced that the National Assembly (NASS) will intensify its efforts to address alleged economic sabotage in the nation’s oil and gas sector.

In his New Year message titled “Another Year of Limitless Opportunities,” Bamidele outlined the legislative agenda for 2025, which includes deliberation on the ₦49.7 trillion 2025 budget, tax reform bills, constitutional amendments, and economic reforms.

“The National Assembly is fully committed to supporting President Bola Tinubu’s administration in achieving global best practices in the petroleum industry. This is why the Senate has set up an Ad-hoc Committee to Investigate Alleged Economic Sabotage in the Nigerian Petroleum Industry,” Bamidele stated.

He revealed plans to establish a joint committee between the Senate and the House of Representatives to investigate infractions and sabotage within the petroleum sector comprehensively.

Highlighting the progress made, Bamidele noted that the collaboration between the National Assembly and the executive since June 2023 has resulted in significant milestones, including the commencement of operations at the Dangote Refinery, as well as the resumption of the Port Harcourt and Warri refineries after two decades of inactivity.

“These achievements reflect the political will of the government to reverse negative trends that have hindered our economic growth,” he said.

Bamidele also shared Nigeria’s economic progress in 2024, reporting steady GDP growth and a reduction in the debt-service-to-revenue ratio from 97% in June 2023 to 65% by November 2024. He expressed optimism that this trajectory would continue in the new year.

Furthermore, he emphasized that the operational refineries would reduce reliance on fuel imports, alleviate pressure on the naira, stabilize foreign exchange rates, and lower inflation.

“The National Assembly remains steadfast in its commitment to addressing national priorities and driving Nigeria towards sustainable development,” Bamidele concluded.