SUBSIDY PROBE REPORT: House Committee Carpets 100 Marketers, NNPC, PPRA

Even as the nation eagerly awaits the report of the House of Representatives   Adhoc committee that probe subsidy regime, there are indications that no fewer than 100 petroleum marketers have been penciled down for sanctions by the Hon Farouk Lawan committee.

Even as the nation eagerly awaits the report of the House of Representatives   Adhoc committee that probe subsidy regime, there are indications that no fewer than 100 petroleum marketers have been penciled down for sanctions by the Hon Farouk Lawan committee.
Although, the report is being expected this month, our source who is close to the committee confided in our correspondent that the marketers and some highly placed officials at both the NNPC, PPPRA and PPMC may be asked to refund more than N700Billion which they allegedly deceitfully benefitted from the controversial fuel subsidy.
The source who is also a member of another very important committee of the lower chamber told Shipping Position Daily last weekend that  agencies like the NNPC and PPPRA were roundly criticized for arbitrariness and shoddiness in the handling of subsidy, especially in 2011 when the Federal Government was discovered to have spent an unbelievable N2.5Trillion as subsidies to phony companies.  
Our source also added that majority of the ‘fake marketers ignored the committee’s invitation, while some of them were not to own any facilities for the reception and retail of petroleum products.
.Specifically, the NNPC was alleged in the report to have deducted funds in excess of N1Trillion from the Federation Account in 2011.
Another issue which the committee had with the NNPC is the wrong figure which it allegedly gave for daily kerosene consumption. The agency reportedly quoted 10Millioon litres, whereas the committee discovered that it was 8Million litres.
In its own case, the PPPRA allegedly licensed portfolio or briefcase companies that had no records of participation in the downstream sector previously. It was also accused of arbitrarily tampering with the templates to suit itself and other interests.