SAN FRANCISCO, April 27, (THEWILL) – The Senate has condemned the current payments by the Nigerian National Petroleum Corporation (NNPC) for subsidy of premium motor spirit (petrol) declaring it as illegal.
The Committee on Public Accounts made the recommendations in its report on the investigation into the illegal subsidy payments.
In the report, which was adopted by the Senate at the plenary on Thursday, the Senators called for sanctioning of the officials involved in the illegal payments.
It ordered that the corporation refunds the sum of N216bn spent on subsidies in 2017 under the guise of operational costs into the Federal Government’s coffers while asking it to pay the arrears owed fuel marketers.
The legislature also asked the corporation to stop further payment of the subsidy but resolved to legalise the payment by including it in the 2018 budget.
