The House of Representatives joint committees on Finance and Petroleum Resources Downstream Tuesday walked out officials of Petroleum Product Pricing and Regulatory Agency, PPPRA, over improper representation.
This is just as Kemi Adeosun, the Minister of Finance, Ibe Kachikwu, Minister of State, Petroleum, and Maikanti Baru, the Group Managing Director of Nigerian National Petroleum Corporation, NNPC, failed to show up and were also not represented.
Peeved by this development, Babangida Ibrahim, APC, Katsina, the joint committee chairman, in his ruling, declared that the committee would start a full-scale public hearing on the issue.
Ibrahim said: “We must get to the bottom of this matter and know who pays the difference, if landing cost of fuel is N160 and control price is N145.
”All the invitees from the Minister of Finance to NNPC GMD all failed to show up except PPPRA which had earlier submitted all the essential information we needed but unfortunately, we cannot take you.
“They all failed to show up to explain why the landing cost of fuel is between N160 and N170 and we don’t know their source of funding the gap between the control price of N145 and N170.
“As we speak, no subsidy payment was captured in the 2017 budget and even the 2018 budget proposals. Nothing was mentioned about subsidy payment so the question is who has been funding the gap so far.
“Since they all failed to show up, we will commence a full public hearing on the issue and get to the root of the matter as PPPRA cannot be taken.
“You are on track as we have seen the template you submitted which has confirmed our fears that we pay more on fuel but you failed to come with your Executive Secretary.”
At this point, Sunday Adepoju, a member of the committee, pointed out that “according to our rules, since no letter was sent and no representative and only one agency out of the lot we invited showed up, I think the House should take appropriate action against the agencies by suspending this hearing immediately.”
Other members of the committee concurred and moved a motion that the session be suspended and they adjourned sine die.
Recall that the House mandated both committees on Finance and Petroleum Resources, Downstream on January 17 to probe into another round of fuel subsidy payments that was not appropriated by the National Assembly.
