The senate has commenced probe of the alleged N3.8billion subsidy funds which the Nigeria National Petroleum Corporation NNPC has been accused of covering up which according to the lawmakers is being managed quietly without appropriation of any known law.
Senate minority leader Biodun Olujimi while speaking on the matter said today at plenary said the senate had gathered that the slush fund has long been in the custody of the NNPC management without being coached well before the public.
” What happened is that rather than the executive talking about subsidy, they talk about subsidy recovery. That means that they were going to end subsidy and pay people to stop subsidy. But the fund is not appropriated. Is just a lump sum within the management of NNPC.
“And we believe that it is not good for it to be shrouded in this kind of secrecy.
“And this is being done behind the scenes. It shouldn’t be so. This is because it is money belonging to Nigerians and, it must be appropriated,” she said.
She said the NNPC should present a proper budget so that Nigerians can know that subsidy is still on even if it is at a lower level.
“What is it being used for? How is it being used? Are we really paying subsidy? This is because the executive does not want us to know that we are still paying subsidy.
“So if we are paying subsidy, to whom are we paying subsidy? For what are paying the subsidy? How does it affect the economy? Is it going to crash the economy because by the report, if we are not careful, it will crash the economy, once again. And we don’t want that,” she said.