Retail
  • Home
  • News
  • 2023 election
  • Governance
  • National Assembly
  • Presidency Nigeria
  • Foreign
  • Privacy Policy
No Result
View All Result
Premium Politics
No Result
View All Result
Home News

$10bn fraud: Reps to probe subsidy from 2017

by Sam Adeniyi
June 30, 2022
in News
Reading Time: 2 mins read
Finance minister, others undermining anti-graft war - Reps

House of Reps

0
VIEWS
Share on FacebookShare on Twitter

The House of Representatives has  set an ad-hoc committee to probe the subsidy of petroleum products from 2017 to 2021.

According to Channels Television, the resolution followed a motion by a member of the green chamber, Sergius Ogun, who cited discrepancies in the susbsidy regime.

YOU MAY ALSO LIKE

Enugu tribunal upholds Peter Mbah’s victory, dismisses petitions

Tinubu’ll go extra mile to restore Nigeria’s lost glory – Ex-lawmaker

Ogun said the component cost in the petroleum products subsidy value chain claimed by the Nigerian National Petroleum Corporation is highly over-bloated while the transfer pump price per litre, used by the NNPC in relation to Petroleum Pipeline Marketing Company, is underquoted.

The lawmaker described this as fraudulent while also expressing worry that the subsidy regime has been used by the NNPC and other critical stakeholders to subvert the nation’s crude oil revenue to the tune of over $10 billion.

The committee is to report back to the House within eight weeks for further legislative action.

Wednesday’s move by the lawmaker came on the same day that the NNPC Chief Executive Officer, Mele Kyari, ruled out the possibility of a subsidy for diesel.

He made the comments while appearing before the House of Representatives Committee on Downstream, alongside the CEO of Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed, among others.

“In our country today, we do not produce AGO and we regret that our refineries are not working,” he said. “Are we doing anything about it? Yes. I have heard the honourable members lamenting; yes, they (the refineries) are not working.

“This is the truth. I don’t want to bore you with why they are not working, but they are not working; I admit they are not working but we regret it. I will invite this committee at your convenience to join us to see how much work we have done to get them back to work, but they will not come back tomorrow.

“They will not! You cannot start it tomorrow. We regret this; we regret this situation, and we are doing everything possible. As a matter of fact, we have decided to do a quick fix for the Warri refinery. The reason is very simple: we don’t even want to go the long route of doing comprehensive turnaround maintenance because we are concerned.”

Tags: House of RepresentativesSubsidy
ShareTweetSend
ADVERTISEMENT
Previous Post

APC starts students’ registration, revalidation

Next Post

Buhari’s ex-aide snubs Tinubu, drums support for Peter Obi

Related Posts

Peter Mbah
News

Enugu tribunal upholds Peter Mbah’s victory, dismisses petitions

September 21, 2023
Tribunal: Prepare for 2027 if you lose, ex-minister tells Tinubu
News

Tinubu’ll go extra mile to restore Nigeria’s lost glory – Ex-lawmaker

September 21, 2023
Some Christians, failed politicians ganged up against Buhari – Adesina
News

Some Christians, failed politicians ganged up against Buhari – Adesina

September 21, 2023
Obi won't get 2027 presidential ticket - LP faction
News

Obi won’t get 2027 presidential ticket – LP faction

September 21, 2023
FG raises NAFDAC, NCDC, others health workers’ hazard allowance
News

UNGA: Analysts urge Tinubu to match words with action

September 21, 2023
Life under APC is unbearable – PDP
News

Don’t demarket Edo PDP, party chieftain warns Obaseki, deputy

September 20, 2023
Next Post
Bashir Ahmad

Buhari's ex-aide snubs Tinubu, drums support for Peter Obi

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent News

Peter Mbah

Enugu tribunal upholds Peter Mbah’s victory, dismisses petitions

by Alade Abayomi Adeleke
September 21, 2023

Nasir Gawuna and Gov Abba Yusuf

Tribunal: We are not afraid of appeal- Gawuna 

by Kazeem Owoseni
September 21, 2023

UNGA: Tinubu meets UN Secretary-General António Guterres in New York

UNGA: Tinubu meets UN Secretary-General António Guterres in New York

by Alade Abayomi Adeleke
September 21, 2023

We’re working on measures to cushion subsidy removal effects – Tinubu

Nothing wrong with Tinubu’s appointment, says Ex-lawmaker

by Alade Abayomi Adeleke
September 21, 2023

Premium Politics

© 2023 Premium Politics

Navigate Site

  • Home
  • News
  • 2023 election
  • Governance
  • National Assembly
  • Presidency Nigeria
  • Foreign
  • Privacy Policy

Follow Us

No Result
View All Result
  • Home
  • News
  • 2023 election
  • Governance
  • National Assembly
  • Presidency Nigeria
  • Foreign
  • Privacy Policy

© 2023 Premium Politics

Go to mobile version