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Subsidy Scam: Reps To Probe N6trn Paid By NNPC As Of June 2022

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House of Representatives,has unveiled plans to extend the ongoing investigation into the fuel subsidy from 2017 to 2022 which is about N6 trillion.

The House Committee investigating the subsidy payment between 2017 and 2021 chaired by Hon Mustapha Aliyu had during the ongoing investigative hearing made public the lists of 23 unregistered oil companies that participated in the fuel subsidy regime between 2017 and 2021.

The details of the affected companies were contained in a memo sent by Corporate Affairs Commission (CAC) with Reference No: RGO/SU/VOL.5/2022/0248 dated Wednesday, July 13, 2022, to the Chairman, Special Ad-hoc Committee on petroleum products subsidy regime.

According to the 2-page letter signed by Maimunat Hamu. M. on behalf of CAC Register-General, the companies are: Emadeb Consortium; Britania-U Nig. Limited; Totsa Total Oil Tradings SA; Petroleum Trading Nigeria Limited; Mocoh S.A; Socar Worldwide; Calson Bermuda Ltd; Hyson; Litasco S.A; Mercuria Energy; Cepsa Lubricant; Trafigura Pte; Vitol S.A; Ocanbed Trading Limited; Bonno Energy; West Africa Gas Limited; Petrogas; Matrix; Masters Energy; Amg; Barbedos; Hindustan and Patermina.

She however urged the Committee “to provide the registration numbers or any other available documents at your disposal to enable us to investigate further.”

While addressing representatives of some of the oil companies invited to the investigative hearing, the Chairman of the Special Ad-hoc Committee, Hon. Aliyu explained that the Chief Executive Officers of all the affected Companies are under obligation to explain their role in the deal with the Nigerian National Petroleum Company (NNPC) Limited during the period under review.

Hon. Aliyu who observed that the House is not witch-hunting anyone said that the Committee will write to the Embassies of the companies which he said were mostly expatriates to provide the details of the companies profiles.

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