- By Halimah Olamide
A former Executive Secretary of the Nigerian Extractive Industries Transparency Initiative (NEITI) Waziri Adio, has described as “disingenuous” claims by the Nigerian National Petroleum Company Limited that it is not paying subsidies to marketers.
Adio’s comment was against the backdrop of claims by the NNPCL which declared on Monday at a press briefing on its released Annual Financial Statement.
Group CEO of the company, Mr. Mele Kyari, had equally granted an interview where he dismissed media reports
TheCable newspaper had reported on Monday that President Bola Tinubu approveda request byNNPCto utilise the 2023 final dividends due to the federation to pay for the petrol subsidy.
NNPC’s Chief Financial Officer, Umar Ajiya, however said the company was only “taking care of the shortfall on petrol importation between it and the federation”.
Adio, in an X post on Tuesday said NNPCL’s response to the media expose of existing fuel subsidy was off the mark.
“NNPCL’s waffling on petrol subsidy is so disingenuous. Oh, it is not subsidy, but a shortfall/PMS fx differential. Same difference. No subsidy was paid to any marketer. Has anyone said NNPCL paid subsidy to marketers and is it even within their remit to pay subsidy to marketers?” he wrote
The founder and Executive Director of Agora Policy, a policy scrutiny and think0-tank organisation in Nigeria said former PPPRA was charged with approving subsidy for marketers and NNPC.
He stated, “Ministry of Finance was paying marketers after verification of claims. Only difference with NNPC was that it deducted its subsidy and other claims from money for crude given to it for domestic use (DCA).
“It is not NNPCL’s responsibility, by practice or by law, to pay subsidy to marketers. That answer to a question not asked is at best a hollow attempt at deflection. Saying there is no subsidy because selling PMS below landing cost is a transaction between the company and the Federation (repaid or netted off) is a lame play with words that take everyone for a moron.
“NNPCL can use this free advice: when in a hole, stop digging.”
The subsidy media report and claims by the NNPCL come amidst worsening fuel scarcity across the country.
The situation has further compounded the transport situation nationwide with the attendant rise in cost of foods, other goods and services.