Senate Leader Opeyemi Bamidele stated that the National Assembly will soon target alleged saboteurs in the oil and gas sector.
Bamidele made this disclosure in a New Year message, titled, “Another Year of Limitless Opportunities,” made available to journalists in Abuja.
He outlined key items on the National Assembly’s legislative agenda, including the consideration of the N49.7 trillion 2025 budget, tax reform bills, and amendments to the 1999 Constitution.
He also emphasized that the National Assembly would support President Bola Tinubu’s efforts to promote global best practices in Nigeria’s petroleum industry.
“Considering the significance of the Committee, the National Assembly has initiated the process to constitute a joint committee of the Senate and House of Representatives to look more decisively and incisively into diverse issues spurring infraction and sabotage in the petroleum.
“We recognise that a number of unfinished tasks are currently pending before the two chambers of the National Assembly. But consistent with the principles of rational choice, we address each of these tasks in order of national priority or significance.
“Consequently, the new few weeks will be devoted to the scrutiny of the Appropriation Bill, 2025; Tax Reform Bills, 2024; and investigation of economic sabotage in the petroleum industry.
“We will also work on amendment of the Constitution of the Federal Republic of Nigeria, 1999 (as amended) and key economic reform initiatives that have been in the pipeline to open up Nigeria for real businesses that will throw up limitless opportunities.”
He further stated that the constructive collaboration between the National Assembly and the executive since June 2023 is already yielding positive results and helping to reposition the nation’s economy for the benefit of Nigeria and its citizens.
He stated, “With the multi-tiered interventions by the Presidency and National Assembly, for instance, Dangote Refinery and Petrochemicals commenced operations within the 2024 fiscal year.
“Likewise, Port Harcourt Refining Command Warri Refining & Petrochemicals Company are now back to operations after almost two decades of dysfunction.
“The operations of these refineries are a testament to the political will of the government of All Progressives Congress to reverse all negative trends that plague our economy and polity.”
Bamidele stated that, apart from the downstream petroleum sector, the National Assembly has utilized its multi-tiered interventions across various strategic sectors to reverse the regressions Nigeria experienced at different times between 2011 and 2023.
He highlighted that this approach has driven steady growth in Nigeria’s GDP throughout 2024, with a 2.98% increase in the first quarter, 3.19% in the second quarter, 3.46% in the third quarter, and a potential 4% growth in the fourth quarter.
He also noted that Nigeria’s debt-service-to-revenue ratio has decreased from 97% in June 2023 to 65% in November 2024, and he believes this margin will continue to shrink in the new year that began on Wednesday.
