FUEL SUBSIDY PROBE - RECOMMENDATIONS
1. The office of the Accountant-General of the Federation (OAGF) should
account for the sum of N213.678 Billion, being total of excess payments
made by it over and above what PPPRA identified as paid in 2009 and
2010. The OAGF is not only responsible for the accounts of the
Federation including the PSF and Domestic Crude Account but refused to
provide further details on the account when requested to do so during the Public Hearing.
2. Relevant Anti - Corruption Agencies should ensure that the OAGF
accounts for the over-recovery figures of NGN 2.766Billion and NGN5.27Billion respectively.
2.05 Conflicting Figures for Nigeria National Petroleum Corporation(NNPC)
NNPC had two sources of recovery of its subsidy viz:
(i) Direct Deductions from Domestic Crude receipts accruable to the Federation.
(ii) Payment by CBN through deduction from Distributable revenues as per the Federation Account Component Statement.158
NNPC’s in its submission claimed to have earned N586 Billion as subsidy
from the supply of 7,576,726,157 litres of PMS in 2011.
However, by PPPRA’s presentation, NNPC was paid a subsidy of N667.533
Billion for supplying 5,470,007,111 litres of PMS
By CBN’s presentation, NNPC was paid the sum of N844.944 Billion as
subsidy in 2011.
In addition to CBN’s payment of N844.944 Billion as represented on the
Federation Account Component Statement, NNPC made a direct deduction of N847.942 Billion as subsidy in 2011, bringing all claims by NNPC on subsidy in 2011 to N1,692.886 Billion (N1.692 Trillion).