House subsidy panel indicts NNPC management, board, seek refund of missing N1 tr

Category: Latest Published on Wednesday, 18 April 2012 18:05 Written by Super User Hits: 1
The Hon Farouk Lawan led House ad hoc committee on the fuel subsidy Wednesday morning submitted its report on the floor of the chambers. The long-awaited report of the House of Representatives panel called for a “complete overhaul” of the Nigerian
 
National Petroleum Corporation (NNPC) leadership and the refund of more than N1 trillion of fuel subsidies, among far-reaching recommendations.

 
The report indicts the corporation’s management and board, as well as those of the  Petroleum Product Pricing and Regulatory Agency (PPPRA), and recommends the prosecution of those found wanting for violations that cost the nation trillions of naira.

 

The NNPC must be made to refund to the federal purse N705 billion; PPPRA N312 billion; fraudulent marketers who drew funding without importation, N8.7 billion; while companies that refused to appear during the investigations are to repay N41.9 billion.
 
“The committee believes that if the Petroleum Subsidy Fund had was properly managed, the sum of N1.07 trillion would have been available to the three tiers of government,” the report said.
 
The abuses that led to the loss of that amount were laid at the doorsteps of the NNPC and the PPPRA, the two outlaw government institutions that have been repeatedly accused and indicted for corruption.
 
The failure of the committee to submit the report on Tuesday as anticipated by stakeholders had fueled speculations that the leadership of the House may have caved into tremendous pressures from interests to abandon the report.
 
Recall that before the House proceeded on Easter break, the chairman had announced on the floor that the report was ready for submission brandishing a draft copy.
 
Lawan had on several occasions said the committee was under pressure to compromise on its assignment.
 
The House is to commence consideration of the report next Tuesday.

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Posted: at 18-04-2012 09:10 PM (12 years ago) | Gistmaniac

This should be enforced

Posted: at 19-04-2012 12:22 PM (12 years ago) | Hero

2ru talk my bro........but i dare to say that GEJ is one of the Strongest, Courageous and Bold president Nigeria has ever had. OBJ was nt bold enough to withdraw subsidy (cos, after all he's benefiting 4rm it, so whats d point of withdrawing it) but GEJ was Bold enough by trying to withdraw it completely. cos if there's a rotten meat you dont keep chasing away the fly u take away the meat completely...........

Posted: at 19-04-2012 12:45 PM (12 years ago) | Upcoming