The Minister of Petroleum Resources, Mrs Diezani
Alison-Madueke, has denied that Nigerian National Petroleum Corporation, NNPC,
received N1.329 trillion as subsidy payments between 2009-2011 from the Central
Bank of Nigeria, CBN, as alleged by the ad-hoc committee of the House of
Representatives on Subsidy Regime.
The committee report had alleged that “NNPC directly
deducted N408.255 billion, in addition to the payment of N81.648 billion by
CBN, in 2009; N407.801 billion, in addition to the payment of N402.423 billion
by CBN, in 2010; and N847.942 billion, in addition to the payment of N844.944
billion by CBN, for 2011, contrary to Section 162 of the 1999 Constitution, as
amended.”
The minister argued that this claim is “totally baseless,
false and without foundation.”
Speaking with newsmen, yesterday in Abuja, she explained
that subsidy payments to NNPC are not based on cash remittance and, therefore,
CBN could not have remitted any cash to NNPC for the purpose of subsidy.
… gives clarifications
According to her, “the mechanics of subsidy recovery by NNPC
is non-fund based, but by way of credit to NNPC against domestic crude cost
due. When approval certificates are received from Petroleum Products Pricing
Regulatory Agency, PPPRA, their values are deducted from crude oil cost due in
a given month after due consideration of what is approved.”
Alison-Madueke stated that “all such approvals and
deductions are regularly copied to other relevant agencies of government such
as Ministry of Finance, Office of the Accountant General of the Federation,
Budget Office of the Federation, Federation Accounts Allocation Committee and
Revenue Mobilization and Fiscal Allocation Commission.
“In the advice on subsidy deductions forwarded to the
Ministry of Finance, NNPC always state that ‘in line with presidential
directives, the ministry should authorize the Accountant General of the
Federation to source for the approved subsidy amount and transfer same to the
Federation Account for onward distribution by FAAC’.”
… flays Reps c’ttee
She condemned the committee for doing a shoddy job.
According to her, “it is grossly inaccurate and misleading
for the ad-hoc committee to claim that NNPC made ‘double deduction’ by
deducting subsidy at source and simultaneously receiving payment for the same
purpose from CBN.
“The conclusion by the committee of double payments to NNPC
obviously accounts for the erroneous and outrageous sum of N2,587.087 trillion
as total subsidy payment for 2011 as stated in the committee’s report.”
NNPC, she noted, believes that the committee’s proceedings
were very serious and important assignment for the purpose of “verifying and
determining actual subsidy requirement” and put to rest the issue of subsidy
once and for all.
She said: “It is unfortunate that the wild allegations,
suppositions and conjectures, which form the basis of their conclusion,
actually did more damage to the objectives than verify subsidy requirement.
“Furthermore, such reckless allegation is capable of
inciting the public against the corporation and its personnel.”
The minister then demanded full disclosure on this
allegation to set the records straight.
Alison-Madueke said: “In this context, the committee should
disclose the source of their data and such source must disclose to the nation
the demand note for the payment, the bank and account to which the amount was
paid and the purpose for which the money was expended and by who.
“If this is not done, the story of subsidy in Nigeria would
never be closed.”
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