Senate asks NNPC to refund N216bn subsidy fund to FG

The senate has asked the Nigerian National Petroleum Cooperation (NNPC) to stop further payment of oil subsidies.

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It also asked the cooperation to immediately refund the total sum of N216 billion said to have been used for subsidy payment to the consolidated revenue fund.

The senate issued the orders on Wednesday after adopting the recommendations of its committee that investigated the subsidy payment done without the lawmakers’ approval.

The lawmakers described the payment as illegal and lacking in transparency.

They also ordered the cooperation to pay oil marketers the outstanding arrears of subsidy payment owed them prior to 2017.

More to follow…



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