NNPC to National Assembly: We don’t need your permission to subsidise petrol

The Nigeria National Petroleum Corporation (NNPC), has said the NNPC Act is a law on its own, which it implements with or without the National Assembly.
The Managing Director of the Petroleum Products Marketing Company (PPMC), Umar Ajiya, said this, on Channels Television, on Friday, adding that the NNPC had the right to run its finances, independently.
The PPMC is a subsidiary of NNPC, which ensures, among other things, the availability of petroleum products to sustain Nigeria’s industries.
He admitted that the corporation had been paying N26 due to differentials in landing cost and approved selling price, but declined to tag it subsidy.
“For us, it’s not a question of subsidy, we don’t know about subsidy. It was not budgeted for but the Act establishing us, the National Assembly knows clearly that in that same Act, there is a provision that we can run our operation and recover our cost fully. There is a difference between the landing cost and the price we are selling, but what we are saying is that is part of our core structure.”
Senators from both ruling and opposition parties, on Wednesday, attacked the chairman of Senate Committee on Petroleum (Downstream), Kabir Marafa, for not including the issue of fuel subsidy in an interim report.
The senators were particularly angry that the NNPC is paying subsidy on fuel without appropriation from the National Assembly.
Ajiya advised the lawmakers to channel their grievances in the right manner.
“The NNPC Act is a law on itself. The National Assembly is the one responsible for enacting laws, so, if there is any remedy or solution, as one of the senators, the issue is look into the Act establishing these entities; NNPC,CBN etc.”
The PPMC boss attributed the recent fuel queues to poor transportation system in the country, which hampered smooth circulation of products, and dubious purchase in major cities.

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