- A probe into the N4.9trillion paid fuel subsidy by the House of Representatives has stalled
- Expected to appear before the House of Representatives, the minister of state for petroleum, Timipreye Sylva and other stakeholders were absent
- Their absence further stretched the proper commencement of the investigation until Wednesday, July 27
According to the newspaper, the probe into the case commenced on Wednesday, July 20 at the green chamber of the legislature with the minister of state for petroleum, Timipreye Sylva absent at plenary.
Legit.ng gathered that the lower legislative chamber had in June moved the motion for the investigation of the activities surrounding fuel subsidy.
It was also gathered that aside from Timipreye Sylva who was supposed to be present at the plenary, the Nigerian National Petroleum Company (NNPC) Limited, the Federal Inland Revenue Service (FIRS) as well as some oil marketers were supposed to be present at plenary but were nowhere to be found.
Deputy speaker, Wase fumes at Sylva’s absence
Presiding over the plenary session, the deputy speaker, Ahmed Idris Wase, said N4.9 trillion was spent on fuel subsidy within the stipulated period in review.
Wase, however, vented his disappointment over the absence of some of the major players in the fuel subsidy probe.
He lashed out at the absentees stating that they had no reason to be absent from the probing exercise.
“I am expressing my displeasure by the attitude of stakeholders in the oil and gas industry that are supposed to be here. Nobody has any excuse not to be here, that shows lack of respect for constituted authority and I think we are not going to take it”.
The deputy further charged the panel to conduct a stern investigation into the matter and leave no stone unturned.
Fuel subsidy: Reps approve new date for probe
Speaking at the plenary session, Ibrahim Al-Mustapha Aliyu who heads the panel also vented his displeasure over the absence of the relevant stakeholders connected to the probe.
He described it as ‘unfortunate’ accusing them of treating the matter with less importance.
Meanwhile, the panel has urged the absentees, including the minister of state for petroleum, Timipreye Sylva to appear before the House of Reps on Wednesday, July 27.
Similarly, the panel also issued a directive to NNPC limited to provide the details of all oil companies and other parties involved in the crude oil swap, direct sales and direct purchase agreement and fuel subsidy payment.
NNPC announces new official pump price
Meanwhile, motorists across the country will be paying a new price for petrol as the NNPC officially raises the pump price.
This comes days after marketers stated that they could no longer sell at the permitted price of N165 per litre.
The development is expected to raise the cost of transportation for Nigerians across the country.
NNPC announces no money, despite N1.89trn revenue
In another report, the Nigerian National Petroleum Corporation (NNPC) has announced it has no money to share with federal states and local governments.
Providing a breakdown of its finance, NNPC revealed it made N1.89 trillion in five months, but most of the money has been spent.
World Bank has expressed concern that Nigeria could be heading for a massive fiscal crisis due to continue subsidy payments.