Subsidy: Reps summon finance minister, query NNPC status

House of Representatives Ad Hoc Committee investigating the petroleum products subsidy regime from 2013 to 2022, on Tuesday resolved to summon the Minister of Finance, Budget and National Planning, Zainab Ahmed, to appear before it on Tuesday, August 16, 2022, for questioning.

Ahmed is to appear before the committee with all the documents demanded by the lawmakers relating to subsidy claims and payments in the period under review.

The Chairman of the committee, Ibrahim Aliyu, issued the summons at the continued investigative hearing of the panel in Abuja.

Members of the committee had faulted the appearance of the ministry’s Director of Home Finance, Stephen Okon, without a letter from Ahmed authorising him to represent her.

Aliyu decried the non-appearance of several invited agencies, calling out the Nigeria Police Force, the Department of State Services, Office of the Accountant-General of the Federation, Shell Petroleum Development Company, among others.

After Okon was eventually allowed to speak, the director said he only appeared before the lawmakers to seek more time for the ministry to collate and present the required documents.

The committee consequently gave the committee one week to do so.

The chairman said, “This committee requested from you to: know the total amount released from the Consolidated Revenue Account as subsidy payments from January 2013 to date; the total amount released from other accounts other than the Consolidated Revenue Account to subsidy payments from January 2013 to date; breakdown of beneficiaries; companies that enjoyed releases from the Consolidated Revenue Account and other revenue accounts as subsidy payments;

“Identify each beneficiary with the amount sent to them, month by month, covering the period from January 2013 to date; all correspondences between the Federal Ministry of Finance and the Central Bank of Nigeria regarding subsidy payments from January 2013 to date; evidence of lodgment of forex into Consolidated Revenue Account by the Nigerian National Petroleum Corporation now (Nigerian National Petroleum Company Limited) as revenue from January 2013 to date.

“Outstanding deposits expected from the NNPC to the consolidated revenue account indicating periods, years and dates; statement of account of all bank documents; evidence of NNPC and its affiliates; subsidiaries transfer of funds to the Treasury Single Account in line with the directives of the President and Commander-in-Chief; statement of accounts operated by the NNPC and subsidiaries under the TSA regime; list of commercial bank accounts operated by the NNPC and subsidiaries before the advent of the TSA; balance of forex yet to be transfer to the TSA by NNPC and its subsidiaries.”