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Breaking: Senate Orders NNPC To Refund N216bn Subsidy Fund To FG
Comments Off on Breaking: Senate Orders NNPC To Refund N216bn Subsidy Fund To FG | | April 26, 2018 4:16 PM

The Senate has ordered the Nigerian National Petroleum Corporation (NNPC) to end further payment of oil subsidies.

According to the Cable, the upper chamber also demanded the corporation to immediately refund the total sum of N216 billion said to have been used for subsidy payment to the consolidated revenue fund of the federal government.

The order from the Senate came on Wednesday, April 25, after adopting the recommendations of its committee that investigated the subsidy payment carried out without the approval of senators.

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The lawmakers referred to the payment as illegal and lacking in transparency. They also ordered the corporation to pay oil marketers the outstanding arrears of subsidy payment owed them before 2017.

Recall that report has it that the minister of finance, Kemi Adeosun, had said that there would be no more payment of fuel subsidy to marketers as the Nigeria National Petroleum Corporation (NNPC) bored the loss of fuel importation “on behalf of all Nigerians’’.

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Adeosun said this while fielding questions from State House correspondents after the Federal Executive Council meeting, which was presided over by President Muhammadu Buhari at the Presidential Villa, Abuja on Wednesday, January 31.

What will Nigerians do if FG increases fuel pump price to N180/litre?

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Comments Off on Breaking: Senate Orders NNPC To Refund N216bn Subsidy Fund To FG

 


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