Reps Orders Probe Into Abandoned $35M Modular Refinery in Bayelsa

The House of Representatives has resolved to investigate the abandoned $35 million modular refinery in Brass, Bayelsa State, following concerns over alleged mismanagement of public funds.

The decision came on Wednesday during plenary, after the adoption of a motion of urgent public importance sponsored by Rep. Billy Osawaru from Edo State.

Osawaru told the House that in 2020, the Nigerian Content Development and Monitoring Board (NCDMB) invested $35 million in Atlantic International Refinery and Petrochemical Limited, intended to establish a modular refinery in the oil-rich state.

However, he noted that the refinery was never constructed, and no visible progress exists on the site to justify the substantial investment.

“Nothing is on the ground to show that huge financial commitments had been made,” Osawaru said, adding that previous attempts by the House committee to probe the project had yielded no results.

He raised concerns about oversight failures and the mismanagement of public resources, describing the inactivity of the project as a “monumental economic sabotage.”

Minority Leader Kingsley Chinda also criticized the stalled project, stating that Nigeria should not consume both profit and investment, emphasizing the importance of the oil and gas sector as the nation’s economic backbone.

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He urged the investigative committee to conduct a thorough probe.

The motion was adopted following a voice vote called by Deputy Speaker Benjamin Kalu, and the House subsequently mandated the Committees on Midstream and Downstream Petroleum to investigate the matter.

The resolution comes against the backdrop of legal proceedings involving the project.

In December 2024, the Federal High Court in Abuja remanded Akintoye Akindele, CEO of Duport Midstream Company Limited, at Kuje Correctional Centre. Akindele was arraigned by the Economic and Financial Crimes Commission (EFCC) on four-count charges including money laundering and contract fraud.

The EFCC alleged that Akindele received $35 million from NCDMB to build a 2,000-barrel-per-day modular refinery, but instead diverted the funds through the bank account of Atlantic International Refinery and Petrochemical Limited into four of his companies and bureau de change outlets.

The House probe is expected to clarify the status of the abandoned project, ensure accountability, and strengthen oversight on public investments in the oil and gas sector.