The House of Representatives, on Wednesday, summoned the Minister of Petroleum Resources, Timiprye Sylva; Chairman of Federal Inland Revenue Service (FIRS), Muhammad Nami, and Chief Executive Officers of all domestic and international oil companies involved in the fuel subsidy regime as well as Direct Sale Direct Purchase (DSDP) from 2017 to date.
While expressing displeasure over the flagrant disregard for the Parliament, during the ongoing investigative hearing organised by Special Ad-hoc Committee on the petroleum product subsidy regime from 2017 to 2021, the Speaker, Hon. Femi Gbajabiamila observed that “quantum of estimation assumed to have spent as of today is amounting to N6 trillion.”
Hon. Gbajabiamila who was represented by his Deputy, Rt. Hon Ahmed Idris Wase, frowned at the absence of most of the critical stakeholders in the oil and gas industry for failing to give account of their stewardship to Nigerians.
According to him, the quantum of money assumed to have spent on subsidy during the period under review is amounted to N4.9 trillion and going by the quantum of estimation assumed to have spent as of today is amounting to N6 trillion.
“On behalf of the members of the House of Representatives, I’m expressing my displeasure with the attitude of stakeholders in the oil and gas industry that are supposed to be here. Nobody has any excuse not to be here, that shows lack of respect for constituted authority and I think we are not going to take it,” he warned.
While urging the Special Ad-hoc Committee to ensure that nobody is spared or made to feel that he or she is above the law, the Speaker assured that the House is ever ready to give the Committee the necessary support and cooperation to ensure that the right thing is done for the interest of the country and for the benefits of Nigerians.
While responding to question on the alleged diversion of petroleum products by oil marketers, the National President of Independent Petroleum Marketers Association of Nigeria (IPMAN), Elder Chinedu Okonkwo who dismissed the report, urged the Parliament to treat anyone found culpable as common criminals.
Speaking earlier, Minister of State for Petroleum Resources, Timiprye Sylva, who reiterated commitment towards the transformation of the NNPC to a fully commercial entity, however, disclosed that the records on the subsidy transaction are domiciled with NNPC.
