ABUJA—Nigerian National Petroleum Corporation, NNPC, yesterday, disclosed that it was the Federal Government that is paying subsidy on petrol and not the corporation.

Addressing the House of Representatives’ Ad-hoc Committee investigating the status of the nation’s four refineries, Chief Operating Officer in charge of Refineries, Mr. Anibor Kragha, who represented the NNPC, said it was the Federal Government that is responsible for subsidy payment and not the corporation
However, in the TAM record sent to the committee, chaired by Mohammed Datti (APC-Kaduna), the NNPC did not include the cost of the TAM carried out during the last administration.
In the breakdown of the expenses, NNPC stated that of total sum of $182.730 million proposed for old and new Port Harcourt refineries, $157.641 million was spent, while $151.170 million was spent on Warri refinery.
The NNPC further noted that of the $91.5 million proposed for the Kaduna Refinery, $87.517 million was spent.
As a result of this, President of the Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, Mr Olabode Johnson, proposed two models of refinery management to end the perennial challenges facing the four refineries.
Stressing that the four refineries were “running on a faulty business model,” Johnson argued that solving the TAM is a short-term solution, thus the need to have a holistic solution that is long-term and sustainable.”
According to Johnson, some of the challenges bedeviling the refineries include: lack of operational autonomy, unnecessary bureaucracy, unsteady crude oil supply, delay in evacuation of refined products leading to shut down of refineries as well as ageing manpower leading to knowledge gap.
Johnson, who was represented by Timothy Jayeoba, member of PENGASSAN Central Board, stressed the need for adoption of public private partnership (PPP) as well as NNPC’s financing model up to 10 years.
On the status of the four refineries, Johnson who quoted the NNPC’s data, said the average functional utilisation of the refineries as at 2017 was 20 per cent.
He also proposed government ownership of 100 per cent equity alongside private sector handling the operation and maintenance.
He recommended the adoption of functional models operational in South Korea, Cote d’Ivoire, South Africa, Indonesia.
https://www.vanguardngr.com/2018/05/fg-responsible-fuel-subsidy-payment-nnpc/

jodeci:
If federal government still pays subsidy,why was the fuel price increased? Isn't this a scam from the ruling party?

https://www.vanguardngr.com/2018/05/fg-responsible-fuel-subsidy-payment-nnpc/

Now we're done for by this government.

There is no leadership in Nigeria. At 45usdollars per barrel PMS price is 143/145 per litre...pump price. At $70 per barrel still no changes at the pump. Directionless confused government.

Those that only know how to defend this inept government but remain empoverished... Food don done... Come and defend this too

The cost of , exporting your crude , refining it and importing the finished goods unfortunately has not reduced, even though oil sells at $50/Barrel


You would think so called educated people would understand the simple maths behind that

HtwoOw:
The cost of , exporting your crude , refining it and importing the finished goods unfortunately has not reduced, even though oil sells at $50/Barrel


You would think so called educated people would understand the simple maths behind that

They shamelessly display their ignorance, just to signify their opposition to d present administration. Cant separate sentiments n opposition

"ABUJA—Nigerian National Petroleum Corporation, NNPC, yesterday, disclosed that it was the Federal Government that is paying subsidy on petrol and not the corporation."
"Subsidy is a scam, Recession is just a word" The APC government confusion have led them to a point that they don't even know when they shamelessly lie to cover another lie.
Government filled with professional liars & crooks.

Aiye mi temi bami, sebi they lied to us that it was NNPC that is paying the. Subsidy before ni? Crude oil is now sold for $75 pb and nobody is talking about it, the budget was put at 60$pb as the benchmark so where is the excess money going into?wait o o I thought PMB said any subsidy is a scam,some things are not adding up here, the best thing is to go and get your pvc because the corruption,lies and deceit going on in this government is legendary

emmykey0128:
................I thought PMB said any subsidy is a scam,some things are not adding up here, the best thing is to go and get your pvc because the corruption,lies and deceit going on in this government is legendary

My dear APC government is simply the worst ever seen.Pls where are the NL resident zombies to give their stupid excuses.

.


IF BUHARI, OSINBAJO and APC TELL THE TRUTH on this SUBSIDY WILL THEY DIE?!

infact if they tell the truth on a normal day will they die?

These People are far from the truth.


.

We are all caught in a web of deceit except we consciously wriggle ouselves out of it.

There is nothing hidden that will not be revealed. It is just a matter of time. Why are we paying #145 for a litre of petrol, sometimes ago at #500, and at the same time the wicked liars are still paying subsidies. Whom did we offend? I think they should temper justice with Mercy. We have suffered enough.