BREAKING: SENATE INDICTS NNPC FOR ILLEGAL FUEL SUBSIDY, ORDERS N216BN REFUND

Senate-Chamber

The Senate has declared the current payments by the Nigerian National Petroleum Corporation for subsidy of premium motor spirit (petrol) illegal. It asked the corporation to refund the sum of N216bn spent for the purpose in 2017 under the guise of “operational costs” into the Federal Government’s coffers.

The legislature also asked the corporation to stop further payment of the subsidy, while asking it to pay the arrears owed fuel marketers. The legislature also resolved to legalise the payment by including it in the 2018 budget. They also called for sanctioning of the officials involved in the illegal payments.

The Committee on Public Accounts made the recommendations in its report on the investigation into the illegal subsidy payments, which was adopted by the Senate at the plenary on Thursday.