Fuel subsidy: Reps to quiz accountant general, Thursday

Barring last-minute changes, the Accountant General of the Federation (AGF) is expected to appear before the House of Representatives, on Thursday, to provide documentary evidence of the N6.7 trillion fuel subsidy for the year 2022 allegedly expended on fuel subsidy as well as relevant financial transactions on the fuel subsidy between 2013 and 2022.

Tribune Online gathered that the proposed meeting is scheduled for 11 am.

The lawmakers had during previous engagements quizzed management teams of oil companies engaged by Nigerian National Petroleum Corporation (NNPC) Limited for the Direct Sale Direct Purchase (DSDP) and other stakeholders.

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• Fuel subsidy: Reps to quiz accountant general, Thursday
• Fuel subsidy: Reps to quiz accountant general, Thursday

At the last hearing, the lawmakers during the vetting of the documents submitted to the committee demanded for documentary evidence and approvals for the unilateral deduction of N529 billion from DPR Royalty account and N689 billion from the FIRS JV Petroleum Profit Tax account by the NNPC for payment of fuel subsidy between 2018 and 2021.

The committee is also expected to get details of the NNPC’s deduction from source amounting to N1.66 trillion against the sum of N1.15 trillion paid to oil marketers in 2021, leaving an excess of N500 billion as well as the N6.7 trillion fuel subsidy projection for 2022.

Recall that the committee had during the ongoing investigative hearing unveiled plans to investigate over 200 accounts being operated by Nigerian National Petroleum Corporation Limited with a view to ascertain the public funds spent on payment of fuel subsidy from 2013 till date.