NNPC, finance minister called upon by House of Reps over alleged unbudgeted subsidy payments

NNPC, finance minister called upon by House of Reps over alleged unbudgeted subsidy payments

The Minister of Finance, Mrs. Zainab Ahmed, & the Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu, was called to show up in front of House of Representatives joint board of trustees on the 20th of Decemmber to clarify their functions in an purported unbudgeted reserves being made as payment for fuel subsidy.

Likewise called to show up unfailingly on a similar time is the Group Managing Director (GMD) of the Nigeria National Petroleum Corporation (NNPC), Maikanti Kachalla Baru, & the leaders of the Department of Petroleum Resources (DPR), Petroleum Products Pricing Regulatory Agency (PPPRA) & the Petroleum Equalization Fund (PEF).

The combine advisory group consist of the Committees on Finance and Petroleum (downstream) led by Babangida Ibrahim (Katsina, APC) & Joseph Akinlaja (Ondo, PDP) individually.

The goals of the advisory group is to call the partners was because of the absence of the authorities administartor to show up at yesterday’s sitting in spite of a few solicitations stretched out to them.

The board of trustees is working by the order of the House to examine charges of subsidy payment in spite of order by authority over the payment of fuel subsidy.

An accusations was made that huge amount of money is being dole out as paymenmt of subsidy with appropriate budgetary endorsements.

Hon. Ibrahim made it known that there is an archived proof that the arrival cost of petroleum products is more than the legislature endorsed N145 per liter, saying the work before the board of trustees is to recognize who is responsible for the payment of the difference.

”The mandate given to this joint committee on finance and petroleum (downstream) by the House is to invite the minister of state for petroleum and finance minister; the GMD of NNPC as well as ES of PPPRA, and urge the executive arm to make provision for subsidy payment in the 2019 budget.

“Unfortunately, the heads of the relevant MDAs are not here, and they are very central to our mandate. So what do we do now as a committee for us to carry out our assignment?” he inquired.