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NNPC Demands N3tn For Subsidy Removal

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NNPC Demands N3tn For Subsidy Removal

NNPC Demands N3tn For Subsidy Removal

The Nigeria Governors’ Forum and the Nigeria Labour Congress on Wednesday has tackled the Nigerian National Petroleum Corporation over  the mismanagement of the fuel subsidy regime, aso Naija reports.

The NGF and the NLC, according to a statement by the forum’s Head, Media and Public Affairs, Abdulrazaque Bello-Barkindo, said this as part of the resolutions of their meeting in Abuja.They particularly doubted the NNPC’s fuel consumption figure.

Labour leaders and state governors berated the NNPC, the Federal Government disclosed that the corporation had submitted a N3tn budget to finance fuel subsidy in 2022.

Also on Wednesday, the House of Representatives said it would probe daily consumption of petrol and the state of the nation’s four refineries.

The Federal Government had on Tuesday suspended its plan to remove fuel subsidy in June. It also shifted the implementation of the Petroleum Industry Act by 18 months.

Reviewing the recent developments in the oil industry, the NGF and labour leaders agreed that the gap in the subsidy removal agenda was “hidden in the untruth bandied by the administrators of the subsidy.”

They noted the NNPC was the forefront of the mismanagement of the proceeds accrued therein.

Bello-Barkindo, in his statement, disclosed that the Chairman of the NGF, Kayode Fayemi, argued that the nation’s economy was at the precipice and that it had become necessary for the two groups to verify NNPC’s estimates carefully.

“Fayemi told the labour leaders that subsidy removal had remained an ongoing conversation not just among governors but the country at large and emphasised that governors could not but be part of the solution providers in this onerous task that is confronting the nation.

“There are raging questions of accountability associated with subsidy removal in the country and observed that the NGF and the NLC can jointly work together to proffer solutions that heal the economy and provide succour to the Nigerian people.

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