Reps Summon Kachikwu, NNPC GMD Over “Illegal” Payment Of N300bn Petrol Subsidy

nigeria-house-of-representatives

FILE PHOTO The House of Reps in Session

The Nigerian House of Representatives on Wednesday summoned the Minister of State for Petroleum Resources, Ibe Kachikwu, and the Group Managing Director of the Nigerian National Petroleum Corporation,NNPC, Maikanti Baru over illegal payment of fuel subsidy to the tune of N300 billion.

The house accuses the two officials of reintroducing subsidy on Premium Motor Spirit (petrol) without the approval of the National Assembly.

The green chamber described the act as an “illegality”.

A motion moved by a member from Kogi State, Karimi Sunday, on the floor of the House, alleged that the NNPC spent “over N300billion” on subsidy from January 2017 to December of the same year.

According to the lawmaker, in the first three months of the year, the NNPC had already recorded an “under recovery” of N46.86bn.

“This trend continued at an increasing rate all through 2017.

“As of December, over N300bn had been expended on petrol subsidy for 2017 alone. This trend continues till date,” he added.

Mr. Sunday reminded his colleagues that Vice-President Yemi Osinbajo and Kachikwu had admitted in December 2017 that the Federal Government, through the NNPC, was paying N26 on each litre of petrol to make up the difference between the landing cost of N171 and the official pump price of N145.

“This happened despite the fact that the Executive said that it had removed subsidy.

“Besides, there was no parliamentary approval for subsidy payment in the 2017 Appropriation Act.”

Advertisements


Categories: News

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: