The House of Representatives Ad Hoc Committee on fuel subsidy regime yesterday learnt that Nigerians have been paying for 24million litres of petrol that were smuggled to neighbouring countries on a daily basis.
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Summary This was revealed when the management of the Petroleum Products Pricing and Regulatory Agency (PPPRA) and the Nigerian National Petroleum Corporation (NNPC) appeared before the Farouk Lawan-led committee.
PPPRA Executive Secretary Reginald Stanley said the payment and smuggling have been going on since 2006.
According to the agency’s figures, while Nigeria imports 59 million litres of fuel on a daily basis, only 35 million litres are consumed in the country.
The Federal Government paid N649 billion subsidy on excess imported petrol in 2011, House of Representatives ad-hoc committee investigating the subsidy regime was told yesterday in Abuja.
The revelation contradicted statistics given by Petroleum Minister Diezani Alison-Madueke, who told the panel on Tuesday that the average daily consumption of petrol in Nigeria was 35 million litres.
Stanley told the MPs that records available to him showed that the total daily import of petrol was 59 million litres thereby leaving a huge difference of 24 million litres. The new figures bring the annual over importation of petrol to 8.76 billion litres.
When computed side-by-side with the regulated price of N65 per litre which obtained in 2011, Nigeria might have spent N649.3 billion as subsidies on excess petrol.
“You told us that subsidies were paid based on 59 million litres daily consumption while the actual daily consumption is 35 million litres, leaving the gap of 24 million litres which is paid for as subsidy but not utilised by Nigerians.
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Posted: at 19-01-2012 05:33 AM (12 years ago) | Addicted Hero
kelvinclint at 19-01-2012 08:16 AM (12 years ago) (m)
that is 9ja 4 u wia imposibilities can be possible.....God go purnish una..
Posted: at 19-01-2012 08:16 AM (12 years ago) | Newbie
....and that is why the removal of subsidy is necessary, but some Nigerians have been deceived by those benefiting from the smuggling of the oil. Lets open our eyes and see the reasons to remove the subsidy for a better tomorrow.
Posted: at 19-01-2012 08:54 AM (12 years ago) | Gistmaniac
mr2lydreal at 19-01-2012 09:15 AM (12 years ago) (m)
na God 9 say make Jonathan enter dat place as president so that em go expose this ungrateful goats them wey call dem self leaders meanwhile dem dey carry Nigeria money dey put 4 dere pocket God don dey expose them one by one
LIKE BASICALLY I'M DOING MY THING
Posted: at 19-01-2012 09:15 AM (12 years ago) | Upcoming
Seanbarnabas at 19-01-2012 10:05 AM (12 years ago) (m)
They're all Scammers in the highest order....Tell me what will be the mind of those brute rd Criminals. They're using Nigeria petrol as if is there family own resources. I wish God can hold this Nigeria Petrol and crude oil Just for few weeks. Let see what those animals will do. Maybe they will sell all Nigerian to complete there fat evil stomach. I'm very much ashamed of Nigerian leaders. we just see them as leaders but they just a qualified and authorized Criminals. God will expose all of u soon. The criminals may have all day but only one day for the owner. see all the talented Youths in Nigeria they can't even eat 3 square meal. suffering, dying in hunger unless one manage to escape to a foreign country that's only when he/she can see the blessing of God. No security, electricity,road, water hospitality is for the rich only. School is for the rich only. any parents that does not meet up or have share in NNPC that means no hope for the family. every country u go there must be Nigerian youths there suffering. they will be treating us like slaves. Just bcos the people we called our leader is all DEMONIC and HEARTLESS Cowards. God of Abraham,Isaac and Jacob will never let all this evil leaders in that county go free. I know one day God will listen to the cry of poor Nigerians. Let this Scammers that we call leaders and there entire family to the fourth generation never see the light of God in they entire life. In Jesus name....Amen......
Posted: at 19-01-2012 10:05 AM (12 years ago) | Newbie
Where are the people that were supporting the removal of fuel subsidy ? they've all are no longer here to defend this...they are the people who thinks they know the hearts of our Politicians,they are people who still have trust in our Politicians...I said it that our government is too corrupt to believe them o´n the issue of removal of fuel subsidy..
kelvinclint
onitsha
solution50
salaming207
ajanni
Adikpe
lanudja
nonsovin
mr2lydreal
reymondokeze
onlyGodknows
Aybagyar
Seanbarnabas
fada
nigerrun
open_reality
R.I.P HATERS. 
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