The Senate yesterday mandated its Committee on Petroleum (Downstream) to investigate the Nigerian National Petroleum Corporation (NNPC) over claims that it mismanaged N5.1 trillion subsidy funds between 2006 and 2015.

Adopting a motion sponsored by Dino Melaye (APC, Kogi West) and titled “Discrepancies in subsidy payment and non-remittance of funds by the NNPC to the Federation account”, the upper chamber of the National Assembly directed the panel to exhaustively audit the accounts of the national oil agency as it relates to fuel subsidy and abuse of product marketing and distribution during the period under review.

The Senate noted that the allegations of discrepancies in subsidy payment and non-remittance of funds to the Federation Account levelled against the corporation were unacceptable.

In his lead debate, Melaye pointed out that “since this administration clamped down on subsidy payment, NNPC has solely been responsible for retail with companies like BOVAS and RANO paying N20– N25 per litre for the sale of this product which amounts to over N2billion monthly.”

He expressed displeasure that these funds were not accounted for, adding that “this might be the reason why we now see petro-dollars buried in caskets and uncompleted buildings in remote villages in some parts of the country.”

Melaye further said: “Majority of Nigerians overwhelmingly agreed to fight corruption and this informed the present administration’s resolve to tackle the widespread corruption in its entire ramification, inclusive of the petroleum industry.”

He regretted that despite the crackdown on corruption by the President Muhammadu Buhari administration, “there has been continuous violation by the NNPC as regards non-remittance of proceeds from the sale of refined products into the Federation Account.”

In his contribution, Bassey Albert Akpan alleged that over N120 billion was spent on importation of fuel by the corporation in the last three months, adding that NNPC cannot continue as the sole importer of fuel into the country.

The Senate President, Bukola Saraki, charged the committee on diligence and enduring solution.

“We cannot continue in this kind of situation whereby some individuals will be adding pains to the masses, who are already overwhelmed by the economic condition, worsened by the current recession,” he stated.
http://www.nigerianewspaper.com.ng/2017/03/senate-mandates-committee-to-probe-nnpc.html

If not PMB all this wouldn't have happen
Long live PMB

which senate a corrupt senate fighting corruption
I wonder y president buhari never jailed saraki

After finding the discrepancy what next.

Why do we always leave room for us to steal. Proper controls need to be put in place.
When you leave small gap for you (as a lizard) to squeeze through. Soon other lizards will follow.

Crooks investigating thieves hmm..