Senate Says Payment Of Oil Subsidy Lacks Transparency
The Nigerian Senate, has ordered the Nigerian National Petroleum Corporation (NNPC) to stop payment of oil subsidies and immediately refund the total sum of N216 billion said to have been used for subsidy payment to the consolidated revenue fund.
This was issued yesterday after the senate adopted the recommendations of its committee that investigated the subsidy payment done without the lawmakers’ approval.
The lawmakers described the payment as illegal and lacks transparency.
They also said the corporation should ensure that oil marketers are paid their outstanding arrears of subsidy payment owed them prior to 2017.