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Home » PPPRA denies presenting conflicting payment figures

PPPRA denies presenting conflicting payment figures

by Joshua
June 10, 2012
in Uncategorized

The Petroleum Products Pricing Regulatory Agency has said that the subsidy payment figures it presented at the ongoing hearing on oil subsidy probe at the National Assembly were correct.
The PPPRA named the agencies its figures tallied with its own as the Federal Ministry of Finance, the Central Bank of Nigeria and the Debt Management Office.
The Executive Secretar, PPPRA, Mr. Reginald Stanley, in a statement on Sunday, made the clarification while reacting to the committee’s statement that the agency submitted conflicting payment records.

The Petroleum Products Pricing Regulatory Agency has said that the subsidy payment figures it presented at the ongoing hearing on oil subsidy probe at the National Assembly were correct.
The PPPRA named the agencies its figures tallied with its own as the Federal Ministry of Finance, the Central Bank of Nigeria and the Debt Management Office.
The Executive Secretar, PPPRA, Mr. Reginald Stanley, in a statement on Sunday, made the clarification while reacting to the committee’s statement that the agency submitted conflicting payment records.
He noted that records of subsidy payments between 2006 and 2011, as presented by the PPPRA to the committee, were the same as the figures provided by the Finance ministry, the CBN and the DMO, contrary to reports attributed to the chairman of the probe committee.
The Committee Chairman, Mr. Magnus Abe, had said that figures provided to the committee by the PPPRA were conflicting and did not tally with figures provided by the ministry, the CBN and the DMO.
Stanley had, on May 30, told the committee that the fuel supply figure provided by the agency tallied with figures in the possession of the Finance ministry, the CBN and the DMO.
He said that from the figures provided by the CBN and the other agencies, it was wrong for anyone to fault the record of fuel supplies from 2006 to 2011, as submitted by the PPPRA to the committee.
Documents released by the Finance ministry, the CBN and the DMO on the approval of bonds under the subsidy scheme showed that 62.448 million tonnes of Premium Motor Spirit were imported by marketers between 2006 and 2011.
However, while appearing before the committee, the Managing Director of the Nigerian Ports Authority, Alhaji Mohammed Omar, requested the permission of the body to bring additional documents to clear the controversy over the 96.312 million-tonnes figure he submitted to the committee on May 30.


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