Senate begins probe of NNPC over $3.8b fuel subsidy fund

The Senate on Tuesday began investigation into the alleged mismanagement of the over $3.8 billion fuel subsidy fund by the Nigeria National Petroleum Corporation. The Senate’s decision was sequel to a point of order raised by Senator Biodun Olujinmi, the Minority Leader of the Senate.

Olujinmi told her colleagues that it was dangerous to allow just two people in the NNPC, the Group Managing Director and the Executive Director in charge of Finance, as the sole controllers of the huge subsidy fund. She recalled that the NNPC had been requested several times to submit the subsidy budget to the National Assembly for consideration and approval.

There was however mild drama between Senator Kabir Marafa and Senator Ali Ndume over which committee should investigate the allegation. This came after President of the Senate, Dr. Abubakar Bukola Saraki, in his ruling mandated the Senate Leader, Ahmed Lawan, and Marafa, the Chairman of the Senate Committee on Downstream, to summon those in the NNPC who are responsible. At the end of the debate however, the lawmakers agreed to set up an ad-hoc committee to look into the matter.

Source: The Sun

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