-Kicks Against N9.3trn spent in 30 months 
-Demands construction of three New Refineries

The Senate, yesterday, commenced the probe of oil subsidy and under-recovery regime operated by the administration of President Muhammadu Buhari. It specifically frowned at the N9.3 trillion spent on the subsidy regime by Buhari from January 2021 to June 2023.

The Senate is also asking for a living wage for workers as a way of cushioning the effects of subsidy removal and as well, seeks for the establishment of three functional refineries for local production and distribution of refined oil with a view to bringing down the pump price from N540 per litre to between N300 to N350 per litre. The resolutions were sequel to a motion sponsored by Chiwuba Ndubueze.

In the motion: “Need to Investigate the controversial Huge Expenditure on Premium Motor Spirit (PMS) under the subsidy/under-recovery regime by the Nigerian National Petroleum Company Limited (NNPCL),” Ndubueze said the step taken by President Bola Tinubu on subsidy withdrawal in May was commendable but the regime needed to be investigated.

He specifically submitted that while within 10 years (2006 – 2015), the Federal Government through NNPCL claimed N170 billion as under-recovery, it expended N843.121 billion on under-recovery between January 2018 and January 2019.

He said: “Very worrisome of the expenses made on subsidy/under-recovery by NNPCL during the period under review, particularly from January 2021 to June 2023 was N9.3 trillion claimed to have been spent.

“The money as shown by available records, shows that in 2021, N1.42 trillion was expended in 2022, N4.3 trillion and in the first six months of 2023, N3.6 trillion, totalling N9.3 trillion.”

Many of the senators, who contributed to the debate on the motion, frowned at bogus expenses made on the subsidy regime by NNPCL and supported all the prayers sought for, in the motion.

The Senate, accordingly, resolved that its standing committees on Petroleum (Downstream), Petroleum (Upstream) and Finance, should when constituted, carry out a holistic investigation on all controversies surrounding subsidy and under-recovery regime.

It also urged the NNPCL, in conjunction with some major international oil companies ( IOCs) in Nigeria, to form three different consortiums and build three refineries for stabilisation of the oil market and the nation’s economy generally.

The Senate has also mandated its Committee on Works, when constituted, to investigate the award of contracts for the rehabilitation of Aba-Ossisioma, Port Harcourt, and Umuahia-Ikot-Ekpene roads.

It specifically mandated the committee to investigate the level of funds released, utilisation and the level of work done so far.

https://www.google.com/amp/s/www.thisdaylive.com/index.php/2023/07/11/senate-probes-buharis-oil-subsidy-under-recovery-regime%3famp=1

-Senate Kicks Against N9.3trn spent in 30 months. It specifically frowned at the N9.3 trillion spent on the subsidy regime by Buhari from January 2021 to June 2023.
-Demands construction of three New Refineries

Where were these senators when Buhari and APC told the whole world that "fuel subsidy was a scam/fraud"? So after they have helped him to subsidize the same scam/fraud for the past 8 years then they suddenly regained their senses? Bunch of crooked criminals.

"...Very worrisome of the expenses made on subsidy/under-recovery by NNPCL during the period under review, particularly from January 2021 to June 2023 was N9.3 trillion claimed to have been spent.

“The money as shown by available records, shows that in 2021, N1.42 trillion was expended in 2022, N4.3 trillion and in the first six months of 2023, N3.6 trillion, totalling N9.3 trillion......"

Just check out these bogous figures despite that there is not accurate stats on the daily petrol consumption in Nigeria by the NNPC/DPR/IPMAN etc yet subsidy is being expended.

Meanwhile, Refineries promised by the scammer or fraudulent government were never built and the existent ones were never revamped despite the huge turn around maintenance(TAM) of these refineries have zilch crude oil refining. This is not forgetting the humongous overhead costs incurred therein. Nigeria is a criminal enterprise operated by criminals.

All of the senators and thiefnu….buuu with there urchinsss know buhari was a thief and corrupt useless president.

Chai..


Let's see if anything will come out of probes in this administration.

...before we tag them as some-shitts-of-perfect-Audio.

Nothing, I repeat, NOTHING will come out of it.
Simple waste of time.e and resources.

Committee loading. . .

Would be One of the 7 wonders of the world if they go beyond Probe, and make arrests & prosecutions.

This is why I so loved having the Buhari regime. His "fight against corruption" was bound to make him the most probed former Nigerian President.

I just hope his APC would do a good enough job as required and not cover up his deeds, or misdeeds if that's what is found.

The Minister Of Petroleum from 2015
to 2023 and the NNPC GMD should be
picked up to come answer & explain
where they were stashing our money❗️❗️🆗

Probe what?
Rubber stamp senate with many of them still in the present one?
Rubber stamp senate that specialized in signing loans?
Who do they want to deceive? They want to pretend to us that they are people of integrity?
Na lie una lie. We don see una finish.

Everybody with a working brain knows that nothing will come of this, they just want to form activity

Thieves probe thieves, where the former thieves connive with the latter thieves to loot the subsidizeless subsidy? 🤦🏽‍♂️

Mind games...

Nothing will come out of it. 🤤

*Yawns****!!!

Another eye service move by a useless overpaid rubber-stamped Senate!

The Nigerian National Petroleum Company (NNPC) Limited says it paid N307.408 billion as petrol subsidy payment in May 2023

From January 2023 to May 2023, petrol under-recovery totalled N1.828 trillion — 55 percent higher than the amount paid in the corresponding period of 2022.

Subsidy payments gulped N274.769 billion in January 2023, N477.742 billion in February, N415.381 billion in March, and N353.130 billion in April, respectively

But the same NNPC said it has not received any payments since 2016

Fulani don scammed us oooooooooooooooooo

Let's see impact on masses, everywhere is bleeding

Paddy paddy government

Cap 🧢

Thieves probing an armed robber is still another jamboree for me. Just same eye service probe that will be swept under the carpet like previous ones. Ndudi Elumelu comes to the mind.

God abeg give us PETER OBI

nothing will come out simple.
million of dollars was paid for oil that was never imported.
not only that people took tankers started taking the fuel outside...

no one person was caught.

You turn around to punish Nigerians

how nigerians always elect a group of asshole mudafucking criminals to decide and rule them is still a case study to me. thieves probing criminals. saint buhari aka darling daddy according to zombie chairman of nairaland the vulture meat seller

They should conduct the probing very well ooo. E get why I talk so.


Contact me for any infection related stuff including staphylococcus aureus. Check my signature for contact

Buhari was the Petroleum minister so the investigation should begin with him.

Just like Abacha, the fraud and mindless looting that happened under the Daura man will take generations to uncover.

Anything to move our Darling country forward is all we want at [/b].

[b]God bless Nigeria and all sane, honest and hardworking Nigerians.

Buhari that once said subsidy was a fraud turned to become the most fraudulent in crude oil subsidy and theft.

for this naija, I doubt if anything go come out.

Good development tho.

But the subsidy money the Senate is probing now was approved by the same Senate upon the presidential request.who is fooling who?Abeg shift make I pass

Buhari and APC are the most useless things that ever happened to Nigeria

It's no longer news that Buhari tenure is the most corrupt ever...



But who were the headless fools that supported him for eight years and who are the same set of degenerates supporting now...

Yeah, finally, and they are going to find a lot of corruption and mess inside, and a lot of guilty people

And show Nigerians why some of us oppose subsidy. The fact is, when there is free money, there always would be corruption