Home ENGLISH Subsidy: Senate To Expand Probe — Saraki

Subsidy: Senate To Expand Probe — Saraki

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Senate President Bukola Saraki has said that the Senate will expand its ongoing probe of an alleged subsidy fund retained by the Nigeria National Petroleum Corporation, NNPC to include dividend from the Nigeria Liquefied Natural Gas, NLNG.

Saraki said ‎expanding the probe became necessary in view of the revelation made by the Group Managing Director of NNPC, Maikanti Kachalla Baru, at an investigative hearing in Abuja.

The GMD had told the Ahmad Lawan-led ad hoc panel probing the alleged 3.5 billion dollars subsidy fund by the NNPC ‎that the corporation did not have any amount set aside for subsidy.

He however said that NNPC augments the shortfall of petroleum landing cost through 1.05 billion dollars of its dividend from NLNG.

Saraki, in a statement by his Special Adviser on Media and Publicity Yusuph Olaniyonu in Abuja, said the corporation would have to provide explanation on how and why it was diverting the dividend from NLNG to defray the cost of under-recovery in the importation of fuel.

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