Fresh Tensions For NNPC Over N3Trillion Subsidy Request

The Senate has said the Federal Government will have to give convincing reason for the fresh demand for N3tn for the extension of the subsidy on petrol by tye NNPC, ahead of approval by the National Assembly.


The Chairman of the Senate Committee on Media and Public Affairs, Ajibola Basiru, made this known on the heels of the conflicting figures surrounding the real volume of petrol, which Nigeria consumes daily.
The fresh tension is coming just as the government is expected to submit executive bills to the parliament to amend the 2022 Appropriation Act and the Petroleum Industry Act, as part of the move to extend the subsidy regime, due to the massive protests that trailed the planned removal.

Earlier, reports filtered out last week that the House of Representatives, has resolved to investigate the actual daily consumption volume and the true state of the nation’s four refineries. Speaker, Femi Gbajabiamila, has reportedly set up two ad-hoc committees to conduct the probes separately within six and eight weeks, respectively.

It would be recalled that the Minister of Finance, hajiya Shamsuna Ahmed had told State House Correspondents that the NNPC has made a submission in respect of the N3trillion request for the extension of the subsidy payments.
“We also presented to Council today a request for Council’s consideration to make additional funding provisions to enable us to meet incremental fuel subsidy request in the 2022 budget,” the minister said.
“You will recall that in the 2022 budget as appropriated, we have made a provision of N443 billion for a subsidy for January to June”, the Minister further stated.


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