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Senate Indicts NNPC For Illegal Fuel Subsidy, Orders N216bn Refund - Politics - Nairaland

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Senate Indicts NNPC For Illegal Fuel Subsidy, Orders N216bn Refund by ijustdey: 2:51pm On Apr 26, 2018
Leke Baiyewu , Abuja


The Senate has declared the current payments by the Nigerian National Petroleum Corporation for subsidy of premium motor spirit (petrol ) illegal .

It asked the corporation to refund the sum of N 216 bn spent for the purpose in 2017 under the guise of “ operational costs” into the Federal Government ’ s coffers .

The legislature also asked the corporation to stop further payment of the subsidy , while asking it to pay the arrears owed fuel marketers .

The legislature also resolved to legalise the payment by including it in the 2018 budget .

They also called for sanctioning of the officials involved in the illegal payments .

The Committee on Public Accounts made the recommendations in its report on the investigation into the illegal subsidy payments , which was adopted by the Senate at the plenary on Thursday.


http://www.punchng.com/breaking-senate-indicts-nnpc-for-illegal-fuel-subsidy-orders-n216bn-refund/

1 Like

Re: Senate Indicts NNPC For Illegal Fuel Subsidy, Orders N216bn Refund by Paperwhite(m): 3:26pm On Apr 26, 2018
"Subsidy is a scam.Recession is just a word" Most fraudulent scammers in government.

35 Likes 2 Shares

Re: Senate Indicts NNPC For Illegal Fuel Subsidy, Orders N216bn Refund by papoudaupolos: 3:29pm On Apr 26, 2018
Senate dey find money up and down

2 Likes

Re: Senate Indicts NNPC For Illegal Fuel Subsidy, Orders N216bn Refund by chrisxxx(m): 3:44pm On Apr 26, 2018
Trump please among things you will discuss with Buhari is to compel him to back out of the presidential contest next year. Buhari contesting will have a lot of negative consequences on Nigeria and Nigerians.
Many Nigerians have left Nigeria on self-imposed exile, those who wanted but could not committed suicide and more are to leave if Buhari is rigged back in 2019.
Buhari knows if the election is free and fair he would not win. The worst is if he did not win his 12 million almajiris will set the country ablaze. We have seen the difference he has made and his contributions in the development of Nigeria. We so much commend him for his zeal and patriotism. However at this stage of human development we need someone with 'digitalised' brain to lead us. The party inclination is immaterial since Nigerian political boundary is permeable. By political osmosis our politicians can always find themselves in whatever political nucleus they prefer.
APC has used Buhari fanatical religious support base to seize political power. It is quite ingenious. This is the time to substitute it with a creative and analytical-minded person.
Buhari winning in 2015 and perhaps 2019 truly exemplified the saying that truth and morality are not always democratically decidable.

14 Likes 2 Shares

Re: Senate Indicts NNPC For Illegal Fuel Subsidy, Orders N216bn Refund by fulaniHERDSman(m): 3:44pm On Apr 26, 2018
grin grin cheesy

ThiefHARI & THIEFnuubu ... Bunglers in Looting.

Like Victor & Hugo

6 Likes 2 Shares

Re: Senate Indicts NNPC For Illegal Fuel Subsidy, Orders N216bn Refund by MrsNwaAmaikpe(f): 3:44pm On Apr 26, 2018
shocked shocked


Back in 2014/2015, Buhari said anything subsidy is a scam. Now he is the President and he is siphoning our money through the same subsidy he said never existed.

Buhari is a monumental failure.....a colossal mistake that must be corrected in 2019

25 Likes 2 Shares

Re: Senate Indicts NNPC For Illegal Fuel Subsidy, Orders N216bn Refund by Lincoln275(m): 3:44pm On Apr 26, 2018
hmmmm
Re: Senate Indicts NNPC For Illegal Fuel Subsidy, Orders N216bn Refund by RealDannie(m): 3:44pm On Apr 26, 2018
So they just realized that Subsidy is a scam?

1 Like

Re: Senate Indicts NNPC For Illegal Fuel Subsidy, Orders N216bn Refund by bmxshop: 3:45pm On Apr 26, 2018
Pikin wey say im mama no go sleep, no go sleep too.

1 Like

Re: Senate Indicts NNPC For Illegal Fuel Subsidy, Orders N216bn Refund by Nathdoug(m): 3:45pm On Apr 26, 2018
THE LEGISLATIVES ARE NOW COMING FOR THE EXECUTIVES..

1 Like

Re: Senate Indicts NNPC For Illegal Fuel Subsidy, Orders N216bn Refund by LibertyRep: 3:45pm On Apr 26, 2018
Does payment of subsidy without NASS approval also constitute an impeachable offence? I just want to know.

1 Like

Re: Senate Indicts NNPC For Illegal Fuel Subsidy, Orders N216bn Refund by Nobody: 3:46pm On Apr 26, 2018
The showdown has begin.

1 Like

Re: Senate Indicts NNPC For Illegal Fuel Subsidy, Orders N216bn Refund by Nobody: 3:46pm On Apr 26, 2018
Good.

So NNPC can stop subsidizing fuel, and so that we eventually face facts and Deregulate .

Deregulate

3 Likes

Re: Senate Indicts NNPC For Illegal Fuel Subsidy, Orders N216bn Refund by Pesuzok(m): 3:46pm On Apr 26, 2018
The senators are mad. They want to cause fuel scarcity again, Nigerians should wake up. It is either nnpc pays the subsidy or we buy fuel for 175

1 Like 2 Shares

Re: Senate Indicts NNPC For Illegal Fuel Subsidy, Orders N216bn Refund by Pesuzok(m): 3:48pm On Apr 26, 2018
bmxshop:
Pikin wey say im mama no go sleep, no go sleep too.
In this case na the masses go suffer. Buhari or the senators would not feel the brunt
Re: Senate Indicts NNPC For Illegal Fuel Subsidy, Orders N216bn Refund by Nobody: 3:48pm On Apr 26, 2018
Pesuzok:
The senators are mad. They want to cause fuel scarcity again, Nigerians should wake up. It is either nnpc pays the subsidy or we buy fuel for 175

Someone gets it. cheesy

NNPC has been running at a loss just to save the government's back by not deregulating because high prices , though the sensible thing, is not a vote winner. (Ask GEJ).

I believe increased prices will benefit us in the long run, especially if government stops setting prices.It means competitive forces increase, and more investment too, especially foreign ones. It also means more refineries,

Deregulation works. Ask the GSM sector. We deregulated that sector form the word go, and went from mtn lines costing 10000 to N500 now.

1 Like 1 Share

Re: Senate Indicts NNPC For Illegal Fuel Subsidy, Orders N216bn Refund by earthcrust: 3:49pm On Apr 26, 2018
There must be check and balances in a Democratic gvt.kudos to NASS
Re: Senate Indicts NNPC For Illegal Fuel Subsidy, Orders N216bn Refund by henryutd(m): 3:49pm On Apr 26, 2018
All I know is that subsidy is a fraud.

1 Like

Re: Senate Indicts NNPC For Illegal Fuel Subsidy, Orders N216bn Refund by yazach: 3:49pm On Apr 26, 2018
chrisxxx:
Trump please among things you will discuss with Buhari is to compel him to back out of the presidential contest next year. Buhari contesting will have a lot of negative consequences on Nigeria and Nigerians.
Many Nigerians have left Nigeria on self-imposed exile, those who wanted but could not committed suicide and more are to leave if Buhari is rigged back in 2019.
Buhari knows if the election is free and fair he would not win. The worst is if he did not win his 12 million almajiris will set the country ablaze. We have seen the difference he has made and his contributions in the development of Nigeria. We so much commend him for his zeal and patriotism. However at this stage of human development we need someone with 'digitalised' brain to lead us. The party inclination is immaterial since Nigerian political boundary is permeable. By political osmosis our politicians can always find themselves in whatever political nucleus they prefer.
APC has used Buhari fanatical religious support base to seize political power. It is quite ingenious. This is the time to substitute it with a creative and analytical-minded person.
Buhari winning in 2015 and perhaps 2019 truly exemplified the saying that truth and morality are not always democratically decidable.


but you have you pvc
no need for this epistle

1 Like 1 Share

Re: Senate Indicts NNPC For Illegal Fuel Subsidy, Orders N216bn Refund by Wiseandtrue(f): 3:53pm On Apr 26, 2018
I hope Buhari will not start crying now that corruption is fighting back

Whoever that says Buhari is not corrupt will face the wrath of Nigerians

someone in the person of BARU embezzled money, instead of jail terms he was promoted undecided

Promoted to another level of stealing undecided
I am not surprised anymore undecided If animals can be swallowing money up and down in this administration then what else undecided

Senate, una good morning.

So far so good your policies has not been in favour of the masses!

why legalise the subsidy payment
IT SHOULD BE SCRAPED!

This is a good decision shall! No stories, return the money!

1 Like

Re: Senate Indicts NNPC For Illegal Fuel Subsidy, Orders N216bn Refund by Blackfire(m): 3:53pm On Apr 26, 2018
And who is the petroleum minister...

1 Like

Re: Senate Indicts NNPC For Illegal Fuel Subsidy, Orders N216bn Refund by joudini(m): 3:56pm On Apr 26, 2018
There is no provision for subsidy accrual in the 2017 NNPC budget. These clowns are now calling it "operating cost" to circumvent unapproved and unbudgeted restrictions.

This is fraud, the same thing Buhari did by spending a sizeable percent of the GDP without statutory approval from the national assembly.

6 Likes

Re: Senate Indicts NNPC For Illegal Fuel Subsidy, Orders N216bn Refund by Nobody: 3:58pm On Apr 26, 2018
MrsNwaAmaikpe:
shocked shocked


Back in 2014/2015, Buhari said anything subsidy is a scam. Now he is the President and he is siphoning our money through the same subsidy he said never existed.

Buhari is a monumental failure.....a colossal mistake that must be corrected in 2019

1. At the time he said it was a scam, we were picking though the pieces of millions being paid for petrol not being imported by marketers. That was the time Otedola et all were in court for those crimes.

2.Thing is, subsidy does not guarantee marketers profits. That is why many of them were engaging on scams like that.

3.Even then, when Bubu came on board, he still had NNPC pay an illegal subsidy, because the alternative was fuel at 200 naira and above per liter.

4.Even with the subsidy that NNPC is paying, it isn't sustainable. They still owe marketers millions. They won't be able to pay them.

5.The only solution is govt and NNPC stop setting prices ,and deregulate. That would enable marketers to earn profits, and fuel will flow.

1 Like

Re: Senate Indicts NNPC For Illegal Fuel Subsidy, Orders N216bn Refund by obailala(m): 4:00pm On Apr 26, 2018
Fuel scarcity loading!

A nation that cant refine its own fuel after 60 years, it also wants cheap fuel but doesnt want to pay subsidies. Such an interesting situation.
Re: Senate Indicts NNPC For Illegal Fuel Subsidy, Orders N216bn Refund by Nobody: 4:02pm On Apr 26, 2018
joudini:
There is no provision for subsidy accrual in the 2017 NNPC budget. These clowns are now calling it "operating cost" to circumvent unapproved and unbudgeted restrictions.

This is fraud, the same thing Buhari did by spending a sizeable percent of the GDP without statutory approval from the national assembly.

In case you must know, we caused it.

I have seen guys here call subsidy a fraud, and then turn around and demand low petrol prices.

The only way to keep prices low is.. by paying a subsidy.

Govt knows that,and it knows subsidy is economic disaster, but also knows it won't survive petrol going up above 200 if there was no subsidy.

So NNPC engages in a scam to keep fuel low.

Yet, without the scam, we would have been buying fuel at 200 and above, and you people would be complaining
Re: Senate Indicts NNPC For Illegal Fuel Subsidy, Orders N216bn Refund by jazzmood04: 4:03pm On Apr 26, 2018
a
Re: Senate Indicts NNPC For Illegal Fuel Subsidy, Orders N216bn Refund by Ikegagwuha: 4:04pm On Apr 26, 2018
Any how you see it the Senate has got a lot of things to hinge on to fight the Executive and Buhari and his cohort knows this

1 Like 1 Share

Re: Senate Indicts NNPC For Illegal Fuel Subsidy, Orders N216bn Refund by vineyardfarms: 4:05pm On Apr 26, 2018
ALL REFINERIES WILL BE OPERATIONAL, NO MORE FUEL SUBSIDIES, N1 TO $1, NO MORE CORRUPTION, BOKO HARAM WILL BE CRUSHED, NIGERIA TO TURNED TO LONDON. CHANGE HAS COME TO STAY. CHANGE CHANGE. REALY ! ! ! CHANGE ?

1 Like

Re: Senate Indicts NNPC For Illegal Fuel Subsidy, Orders N216bn Refund by Nobody: 4:06pm On Apr 26, 2018
Wiseandtrue:
I hope Buhari will not start crying now that corruption is fighting back

Whoever that says Buhari is not corrupt will face the wrath of Nigerians

someone in the person of BARU embezzled money, instead of jail terms he was promoted undecided

Promoted to another level of stealing undecided
I am not surprised anymore undecided If animals can be swallowing money up and down in this administration then what else undecided

Senate, una good morning.

So far so good your policies has not been in favour of the masses!

why legalise the subsidy payment
IT SHOULD BE SCRAPED!

This is a good decision shall! No stories, return the money!

We scrap subsidy payments, then NNPC is left with no option but to wisely deregulate, and fuel shoots up above 200 per liter.

Good for our economy, but you would complain again
Re: Senate Indicts NNPC For Illegal Fuel Subsidy, Orders N216bn Refund by Igba123: 4:06pm On Apr 26, 2018
That is asking buhari to refund d money wey Yusuf don use buy powerbike and hotels and Aisha don't use buy jewels to do Stella obasanjo of blessed memory.
Re: Senate Indicts NNPC For Illegal Fuel Subsidy, Orders N216bn Refund by Yksoul(m): 4:07pm On Apr 26, 2018
ANYWAY,ELECTRIC CARS HAVE BEEN INVENTED WITH TIME WE WOULD NO LONGER TALK OF OIL,FUEL AGAIN BY 2021

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