Subsidy: Reps demand Forensic Audit Of N413bn CBN Loan

By Christiana Ekpa

The House of Representatives on Thursday asked the office of the Auditor General of the Federation to undertake a forensic audit to ascertain whether the sum of N413billion borrowed from the Central Bank of Nigeria, CBN for subsidy payments was refunded after the passage of the 2015 budget.

The House equally urged the Government to immediately design measures and palliatives to cushion the effects of the subsidy removal for Nigerians, through the provision of Compressed National Gas, CNG buses with cheaper fuel consumption.

The House also urged the Executive Arm of government to liaise with the National Assembly to fashion out critical areas of economic development, which the additional revenue from the proposed subsidy removal would be appropriately utilized.

The House resolutions followed it’s Ad-hoc Committee on “Petroleum Products Subsidy Regime in Nigeria from 2013–2022”, report which was considered at the Committee and adopted by the House.

According to the House “the government should also introduce intermodal, regional and national transport system to ease mass movement of people across the country.

“That the Nigerian Midstream Down Stream Petroleum Regulatory Commission should issue stricter and most appropriate regulations as provided in the Petroleum Industry Act (PIA) to ensure that Nigerians are not shortchanged through profiteering.

“That the Revenue Mobilisation Allocation Committee should lead a reconciliation meeting between NNPCL, FIRS and JVCs and the Commission on the utilization of their crude entitlements.

“With the total deregulation of the sector, all the agencies involved in crude lifting/security should have a representative with the Nigeria Navy as a lead agency to physically asses and document daily crude production and lifting.”

Other recommendations of the panel, which were equally adopted included that “a further investigation through a forensic audit by the office of the Auditor General of the Federation be made to ascertain whether the N413billion borrowed from the CBN for subsidy payments was refunded after the passage and assent of the 2015 budget as earlier approved by the President and the report of the Auditor General to be submitted to the House for further legislative action.

“With the subsidy removal, the Government should forthwith suspend all Direct Sales Direct Purchase (DSDP) contracts. NNPCL should act by the provision of the PIA to ensure that the country is not sub-changed in both production, lifting and sales of crude.

“The Nigeria Customs Service and Weight and Measures Department of the Federal Ministry of Industry, Trade and Investment be equipped to ascertain the actual daily crude oil lifting from the country for proper checks and balances;

“The Committee recommends that the NEITI Act, 2007 be amended by the National Assembly to be in tune with global best practices.”

Governors forum leadership: Tinubu congratulates Abdulrazaq, Uzodinma, others

By Egena Sunday Ode

President Bola Ahmed Tinubu has congratulated governors who recently emerged as leaders of the Nigerian Governors Forum (NGF) and Progressive Governors Forum (PGF).

The President’s felicitations was contained in a statement from the State House on Thursday signed by Abdulaziz Abdulaziz.

“I congratulate the Governor of Kwara State, His Excellency Abdulrahman Abdulrazaq, on his emergence as the Chairman of the Nigerian Governors Forum (NGF), and the Governor of Imo State, His Excellency Hope Uzodinma, on his election as the Chairman of the Progressive Governors Forum (PGF).

“In the same vein, I also congratulate His Excellency Seyi Makinde, the Governor of Oyo State, and his Kaduna State counterpart, His Excellency Senator Uba Sani, on their elections as deputy chairmen for the two respective forums,” he said.

“Being called upon by their peers to lead them is a testament to the trust and confidence reposed in them by the governors,” President Tinubu added.

The President tasked the new leaders to use their tenures to advance the peace, unity and socioeconomic development of the country and join hands with his administration to engender the Renewed Hope agenda.

“As chief executives of states, governors are critical to the overall success of our administration and the desire for a Nigeria that works for all.

“As an important fulcrum in our journey to a more prosperous and safe country, what states do or do not do matter a lot. I am therefore obliged to ask the new leaders to use their good offices to bring about a convergence of vision between the Federal Government, under my leadership, and governments at the state level.

“It is my prayer that you acquit yourselves diligently in discharging the responsibilities bestowed on you through this election,” President Tinubu added.