Home BUSINESS Unbudgeted fuel subsidy payment by NNPC hits N3.76 billion monthly

Unbudgeted fuel subsidy payment by NNPC hits N3.76 billion monthly

to me


    President Muhammadu Buhari  


   *As payment keeps jerking up in geometrical progression

           *Owes Marketers over 666 billions

ABUJA-Nigeria subsidy payments has risen from the 774 million Naira Monthly which it stands at the end of February to a whopping 3.76 billion naira  as  at March 5ft with not a single Nigerian knowing how the government is paying for these claims despite not a kobo in the National budget for subsidy payments.

Daily Watch findings in the Ministry of Petroleum Resources and the NNPC confirmed that the 3,76 billion for March is the authentic payments made by the Buhari administration for imported fuel in the country for the Month of march but what the same sources in the Ministry and NNPC has not been able to explain I who were the payments made to and who gave the approval and the budgetary allocations for such payments when it is not found in any sub head in the 2017 and 2011118 budget of the Federal Government.

According to Daily Watch findings the Federal Ministry of Petroleum and the NNPC officers als are at a lose as to who and when the payments are made as all they get is the same story as Nigerians that several billions and now trillions has been paid for Petroleum subsidy.

While Many Nigerians where at a shock over the 774 million  monthly subsidy payments in the few months back more shock is said to await Nigerians when they now see that the new monthly payments has jumped up from the million Naira mark to the billion naira mark monthly with subsidy payments now standing at 3 billion and 76 million as against the 776 million that was paid April with nobody to explain to Nigerians how within February ending to March the geometrical move from 774 Daily now move to 376 Daily.

While the National Assembly which instituted a probe of the Payment of subsidy is seen to be dilly Dally on the probe in what many have come to term as a compromise in a serious issue as an unbudgeted expenditure that runs into several billions in a period and administration were  anti Corruption and transparency are supposed to be the foot stool.

Daily Watch attempts to reach out to the Minister of state for Petroleum Ibe Ikachukwu on the reported increase of almost double of what was paid for February been now paid for March in a government that several years ago has described Subsidy payment as a fraud and scam was not possible same also for the Senate committee chairman on Petroleum whose lines kept ringing without picking despite series of text on the subject to his phone.




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