Reps Begin Probe Of Subsidy Payment

The joint House of Representatives committee on finance and petroleum (downstream) have resolved to go fully and investigate alleged payments of subsidy by relevant government authorities.
The joint committee chaired by Babangida Ibrahim (APC, Katsina) and Joseph Akinlaja (PDP, Ondo) respectively said during a session in Abuja that the discoveries it has made so far revealed that there appears to be subsidy payment.

For example, Babangida said documents presented by relevant authorities showed that the landing cost of fuel is between N160 and N170, while the pump price is maintained at N145.
“How does this come about? I think we have to go into a full investigative hearing to unravel this matter. All we’re saying is that something may be wrong somewhere, because you can’t have such a difference and say that nobody pays for the balance.

“I believe it is a full investigation that will be able to reveal all the necessary things that we need to know as a committee and report back to the House.

“What are the sources of funding for the differential? We know there was no provision for subsidy in the 2017 budget and we don’t have it in the proposal for 2018,” he said.
The session was supposed to be held with the Minister of State for Petroleum, Ibe Kachikwu, the Group Managing Director of the Nigeria National Petroleum Corporation (NNPC), Maikanti Kachalla Baru and heads of the agencies and parastatals under the corporation.

However, the two top officials could not make it to the meeting, a development that compelled the panel to adjourn the sitting to a yet-to-be-announced date.