Senators reject N700 million daily deductions for kerosene subsidy

An alleged illegal deduction of N700 million daily as kerosene subsidy by the Nigeria National Petroleum Corporation (NNPC) was today rejected by some senators. The development followed the adoption of a motion by Senator Babajide Omoworare (Osun East) entitled: “Urgent Need to Stop N700 million a Day Illegal Kerosene Subsidy.” Omoworare said he had noted […]

An alleged illegal deduction of N700 million daily as kerosene subsidy by the Nigeria National Petroleum Corporation (NNPC) was today rejected by some senators.

The development followed the adoption of a motion by Senator Babajide Omoworare (Osun East) entitled: “Urgent Need to Stop N700 million a Day Illegal Kerosene Subsidy.”

Omoworare said he had noted through admission by the Petroleum Products Pricing and Regulatory Agency (PPPRA), the Ministry of Petroleum Resources and Ministry of Finance as well as verified findings emerging from the ongoing Finance Committee investigation, that current kerosene subsidy scheme is manifestly illegal, unconstitutional and a brazen breach of the Appropriation Act passed by the National Assembly as there have been expenditure of public funds in contravention of Sections 80 and 162(1) of the 1999 Constitution (as amended) and attendant Appropriation Acts.

He said the kerosene subsidy scheme had woefully failed to ameliorate the living condition of the suffering masses of the country who are the targeted beneficiaries but has rather been transformed into an “engine of fraud and conduit for enriching the ever manipulative super rich”.