It is always sad that very frequently the National Assembly would launch investigations into sundry issues that would not produce any reasonable outcomes.
Last week the Public Accounts Committee of the House of Representatives announced that it had commenced an investigation into the outstanding indebtedness of oil companies and the Nigerian National Petroleum Company Limited (NNPCL) to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), with the liabilities amounting to N432 billion.
The investigation followed the release of Auditor-General’s annual audit reports on the indebtedness arising from various regulatory and petroleum-related obligations.
According to the Auditor-General’s 2023 Annual Audit Report, the NNPCL and oil companies operating under the umbrella of the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), Major Marketers Association of Nigeria (MOMAN) and Major Energy Marketers Association of Nigeria (MEMAN) were indebted to NMDPRA to the tune of more than ₦392 billion.
Chairman of the Committee, Bamidele Salam, said the committee would ensure that all relevant entities account for their obligations and provide the necessary records to enable parliament to establish the circumstances surrounding the outstanding debts.
Annually, Nigerians hear the news of many high-profile probes launched by the National Assembly that do not produce tangible results.
Nigerians hear the news or read reports about how the lawmakers probe major financial discrepancies, public sector corruption, and infrastructural failures, but nothing will be heard about the probe after the news.
What is most annoying is that human efforts and huge financial resources are wasted on public hearings, media advertisements, hiring consultants, and logistics for these probes, which end up as a “movement without motion”.
Even when investigations indict specific agencies or corporations, the legislature often lacks the political will to compel the executive to implement its recommendations.
Will this latest probe end up like the previous ones?