*NNPC can’t justify N6.34tn petrol subsidy – Customs*

…Reps differ over N11tn deficit in proposed 2023 budget

The Comptroller-General of Nigeria Customs Service, Col. Hameed Ali (retd.), has stated that the Nigerian National Petroleum Company Limited (formerly Nigerian National Petroleum Corporation) cannot justify the volume of Premium Motor Spirit (petrol) being consumed in the country daily to warrant the over N6.34tn subsidy payment on the commodity annually.

Ali, in his presentation to the House of Representatives’ Committee on Finance at the continued hearing on the proposed 2023-2025 Medium Term Expenditure Framework and Fiscal Strategy Paper in Abuja on Thursday, argued that the NNPC cannot scientifically prove the 98 million litres/day consumption it was claiming, alleging that the nation’s oil company was supplying an excess of 38 million litres of PMS daily.

The committee had asked Ali about the like deficit of between N11tn and 12tn in the 2023 budget as proposed in the 2023-2025 MTEF/FSP.

The Federal Government is proposing a budget with estimates totalling N19.76tn, while the deficit will hover between N11.30tn and N12.41tn in the 2023 fiscal year.  The Minister of Finance, Budget and National Planning, Zainab Ahmed, who appeared before the committee earlier on Monday, had decried that the government might be unable to provide for treasury-funded capital projects next year, especially due to dwindling revenue and annual payment of N6.34tn subsidy on petrol.

However, the NCS boss faulted the NNPC on its subsidy claims, saying, “I remember that last year we spoke about this. Unfortunately, this year, we are talking about subsidy again. The over N11tn we are going to take as debt, more than half of it is going for subsidy. The issue is not about smuggling of petroleum products. I have always argue this with NNPC.”

Ali added, “If we are consuming 60 million litres of PMS per day, by their own computation, why would you allow the release of 98 million litres per day? If you know this is our consumption, why would you allow that release? Scientifically, you cannot tell me that if I fill my tank today, tomorrow, I will fill the same tank with the same quantity of fuel. If I am operating a fuel station today and I go to Minna depot, lift petrol and take it to Kaduna, I may get to Kaduna in the evening and offload that fuel. There is no way I would have sold off that petrol immediately to warrant another load. So, how did you get to 60 million litre per day? That is my problem.

The issue of smuggling: if you release 98 million litre in actual and 60 million litres is used, the balance should be 38 million litres. How many trucks will carry 38 million litres every day? Which road are they following and where are they carrying this thing to?”

The committee’s Deputy Chairman, Saidu Abdullahi, who presided over the hearing, decried that funds under the subsidy scheme, which should have been used to finance capital projects, were being diverted into private pockets.

Meanwhile, the Customs CG told the committee that the Service would meet its revenue projection of N2.272tn for 2022, N2.873tn for 2023, N3.540tn for 2024 and N3.752tn for 2025.

The lawmakers queried the sum of N6.7bn spent on legal matters out of N7.5 billion approved in the 2021 Appropriation Act, with another N9.2bn proposed in the 2023 budget.

Ali, however, explained that the NCS wrote to the Presidency seeking virement of N4bn to cater for pending legal debts, adding that inadequate funds might cause the Service to pay as much as N20bn for a suit of N3bn for default.

The lawmakers also tasked the CG of the NCS with ensuring remittances of 80 per cent of the operating surplus to the government coffers as prescribed by the Finance Act, adding that the Customs should propose amendment to the extant law with a view to addressing whatever concerns might arise

.

https://punchng.com/nnpc-cant-justify-n6-34tn-petrol-subsidy-customs/

All i know is that our problems in this country is going to be solve one day We need the right leader The right person The new Nigeria is coming soon
What i know now is nigerian's decide Not one person decide as if it was a royal family post, shouting "EMI LO KAN" 2023 vote wisely .....GOD BLESS NIGERIA

Nothing is working in this country

The Navy also questioned the NNPC's claim that that much oil is stolen and smuggled out of Nigeria daily.

Suddenly every agency in the land is speaking out against and shooting down every lie emanating from their sister agency. Apparently, now everyone is tired of taking one for the team


Frankly speaking, Nigeria desperately needs a new political party up there to expose the cesspool of corruption that is the NNPC, just as much as Lagos needs a new political party to expose LASG 's handling of its IGR..


It's a given
Goes without saying
Cause it's just common sense
WE NEED REAL CHANGE!

Massive corruption exists and thrives in every sector of this country and that is our greatest undoing

Bloody thieves.

Ok naa
..
Meanwhile....

PLEASE BRING THIS TO THE NOTICE OF INEC.

INEC should release the detailed analysis, the breakdown, and the categorisation of the accredited voters who came out to participate in the Ekiti and Osun Governorship Elections.
(Just the way they released the details of the accredited voters who Participated in the 2015 General Elections...
https://inecnigeria.org/wp-content/uploads/2019/02/Presidential-Election-Analysis-2015-1.pdf)


We need to study the patterns of the participation in those two elections.

We need to know the number (and percentage) of the youths who came out to participate in the election.
We also need to know the number of “businessmen” and “civil servants” and “artisans” who came out to vote.
..
The information will help us to predict better about the supposed outcome of the 2023 Elections..

we are watching

Money that is enough to Sit up ASUU. You people should continue, there is God.

The way these people waste the migre resources of this country

Imagine, the nonsense
Where 38million liter of petrol they daily

Aboki has rendered Ndi our oyel useless..

Fishing has reduced drastically due to environmental pollution by almost 45% but Nigerians don't know asides catfish,tilapia and Kote, there are more than 4000 species of fish..

Now they gave Dangote another aboki free land to destroy the yoloba environment...they are happy now but will see the result in the nearest future when the ocean starts smelling..

Desert controlling Oyel...I never see

Corrupt NNPC

Disbelieve this at your own peril. They know each others secret too well. After the corrupt oil handlers tried to push metering theft on customs service, this is the apt reply. They will soon settle though and move on. This is Nigeria.

The minister of finance is part of the corruption...
The woman is willing to approve any stupid payments without questions.

Buhari should use the head of NDLEA well...he needs a bigger challenge like NNPC or Customs to put some sanity at these places..

https://www.youtube.com/watch?v=Lmiqo_wdXpk

NNPC has really raped Nigeria. But come to think of it no be everybody dey fill their tank. Una never jam motorist wey dey buy #1000 petrol, use am work. Get another #1000 when he noticed the petrol don dey finish. And that is the daily routine.

OyeofIkoTuN:
Aboki has rendered Ndi our oyel useless..

Fishing has reduced drastically due to environmental pollution by almost 45% but Nigerians don't know asides catfish,tilapia and Kote, there are more than 4000 species of fish..

Now they gave Dangote another aboki free land to destroy the yoloba environment...they are happy now but will see the result in the nearest future when the ocean starts smelling..

Desert controlling Oyel...I never see

Much of the pollution in Niger Delta results from the activities of oil-thieves blowing up pipelines. As for Dangote setting up a refinery, nobody stops ijaws,igbos, itsekiris, etc from investing wisely. If you hate Dangote, you simply don't patronize the sugar, salt, flour, cement etc his factories are producing - and the petroleum products to be produced by Dangote refinery. Besides his passionate love for his fatherland which informs his massive investment here, Dangote is also an international business man with investments spread across the globe, including 14 or so cement factories in 12 different African countries. Most of you ipob miscreants think Dangote is a mere trader like your incoherent idol, who only mouth questionable statistics but doesn't offer creatve ideas as solutions ( just listen to the guy and you will notice how empty he is).

Leave this people let them make their money...

Join me lets start minting PLC ultima and make our own money.







@https://platinworld.com/en/3661142722

The license fee and total packages is summarized below.

All of them are thieves and want to continue to destroy this nation. God no go fail us.

Doyou2019:
The Navy also questioned the NNPC's claim that that much oil is stolen and smuggled out of Nigeria daily.

Suddenly every agency in the land is speaking out against and shooting down every lie emanating from their sister agency. Apparently, now everyone is tired of taking one for the team


Frankly speaking, Nigeria desperately needs a new political party up there to expose the cesspool of corruption that is the NNPC, just as much as Lagos needs a new political party to expose LASG 's handling of its IGR..


It's a given
Goes without saying
Cause it's just common sense
WE NEED REAL CHANGE!

The kind of extreme corruption that goes in dat NNPC ehn...even Satan himself would be very suprise....d annoying part about dis NNPC is, they are being paid millions of naira yearly in salary an allowances while virtually almost 70% of thier staffs are redundant BUT despite that, money keeps disappearing & they would heap d blame on subsidy & those small time oil bunkering dudes at d creeks. ...NO AGENCY IN NIGERIA IS AS CORRUPT AS NNPC

This subsidy thing can be maintained but when northerners are favoured by a move in this union, it is hard for that move not to go through, especially when it is the northern elite.
Push pump prices to N250, block all these obvious shortages like the one customs is talking about here, embrace alternative energy for small businesses and watch the demonically inflated figure crash to 20%. They don't want to indict their admin of corruption so they bury it and move on.

loswhite:
The minister of finance is part of the corruption...
The woman is willing to approve any stupid payments without questions.

Why do u think she is their? Extremely incompetent woman, she seems always confused & just reads what's given to her...

mu2sa2:
Much of the pollution comes from activities of oil-thieves blowing up pipelines. As for Dangote setting up a refinery, nobody stops ijaws,igbos, itsekiris, etc from investing wisely. If you hate Dangote, you simply don't patronize the sugar, salt, flour, cement etc his factories are producing - and the petroleum products to be produced by Dangote refinery. Dangote is an international business man with investments spread across the globe, including 14 or so cement factories in 12 different African countries. Most of you ipob miscreants think Dangote is trader like your incoherent idol who only mouths questionable statistics but doesn't offer solutions at all to issues.

Don't worry, Dangote will soon start his refinery and want to sell at high prices. Then it will be the groaning masses vs the elites. We will see what you guys will choose then. Dangote to grow at expense of the poor or for subsidy to remain and be properly managed.

APc has killed Nigeria with corruption.


Say no to APc

Say no to Muslim Muslim ticket

Say yes to equity justice and fairness

mu2sa2:
Much of the pollution comes from activities of oil-thieves blowing up pipelines. As for Dangote setting up a refinery, nobody stops ijaws,igbos, itsekiris, etc from investing wisely. If you hate Dangote, you simply don't patronize the sugar, salt, flour, cement etc his factories are producing - and the petroleum products to be produced by Dangote refinery. Dangote is an international business man with investments spread across the globe, including 14 or so cement factories in 12 different African countries. Most of you ipob miscreants think Dangote is trader like your incoherent idol who only mouths questionable statistics but doesn't offer solutions at all to issues.

hahahahaha

I don't know who is dumber....education or you?

I'm glad this ediot you worship, we don't need to buy his products to survive...every trash commodity you mentioned there has an alternative.

so wail all you want....If u like produce cocoyam and eba,If you start refining oil, there are risks of pollution... that's all...you minority

look at him blaming the ndi our oyel communities as oil thieves in their own land,their own oil...chaii chineke

OyeofIkoTuN:



hahahahaha

I don't know who is dumber....education or you?

I'm glad this ediot you worship, we don't need to buy his products to survive...every trash commodity you mentioned there has an alternative.

so wail all you want....If u like produce cocoyam and eba,If you start refining oil, there are risks of pollution... that's all...you minority

look at him blaming the ndi our oyel communities as oil thieves in their own land,their own oil...chaii chineke

Do you know how moronic you sound right now ?

APC has finished Nigeria