Senate directs NNPC to refund N216bn subsidy payments



The Senate has asked the Nigerian National Petroleum Corporation (NNPC), to refund the sum of N216 billion spent on subsidy payments in 2017 under the guise of operational costs into the Federal Government’s coffers.

The payment of subsidy for Premium Motor Spirit (PMS) by State oil company, the Nigerian National Petroleum Corporation (NNPC) has been declared as illegal by the Senate.

The Senate during plenary on Thursday adopted recommendations by the Committee on Public Accounts on the investigation into the illegal subsidy payments by NNPC.

They also asked the state oil company to stop further payment of the subsidy, while asking it to pay the arrears owed fuel marketers.

The lawmakers also resolved to legalise the payment by including it in the 2018 budget.

They also called for sanctioning of the officials involved in the illegal payments.