{"id":27982,"date":"2018-11-06T13:54:02","date_gmt":"2018-11-06T12:54:02","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=27982"},"modified":"2018-11-06T13:54:02","modified_gmt":"2018-11-06T12:54:02","slug":"nlng-dividend-nigerian-senate-probes-alleged-nnpcs-diversion","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/nlng-dividend-nigerian-senate-probes-alleged-nnpcs-diversion\/","title":{"rendered":"NLNG Dividend: Nigerian Senate Probes Alleged NNPC\u2019s Diversion"},"content":{"rendered":"
The Nigerian Senate will Tuesday\u00a0\u00a0<\/span>further probe claims by the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, on how and why the corporation allegedly diverted the dividends from the Nigerian Liquefied Natural Gas (NLNG) to maintain the N145-per-litre pump price of Premium Motor Spirit (petrol).<\/span><\/span><\/div>\n
<\/div>\n
According to the President of the Senate, Dr Bukola Saraki, the probe is based on persistent calls from Nigerians across the country.<\/span><\/span><\/span><\/div>\n
The Senate had set up an ad hoc committee chaired by the Majority Leader, Senator Ahmad Lawan, to investigate an alleged $3.5billion\u00a0\u00a0<\/span>account kept by the NNPC for petrol subsidy payment.<\/span><\/span><\/span><\/div>\n
<\/div>\n
Baru had, while appearing before the committee last week, disclosed that the NNPC had only spent $1.05b from the NLNG dividend account to defray the cost of \u201cunder-recovery\u201d in the importation of fuel.<\/span><\/span><\/span><\/div>\n
<\/div>\n
Saraki, while reacting to questions from newsmen at the Ilorin Airport, according to a statement by his Special Adviser on Media and Publicity, Yusuph Olaniyonu, said he had received series of telephone calls on the issue from many concerned Nigerians.<\/span><\/span><\/span><\/div>\n
<\/div>\n
He said the callers wanted to know the position of the Senate on the issues raised by NNPC\u2019s GMD before the Lawan-led committee.<\/span><\/span><\/span><\/div>\n
<\/div>\n
The Senate President stated that the disclosure by the NNPC boss in response to enquiries by the Senate panel called for further investigation by the chamber. He said it also showed that, as alleged in a motion moved earlier by the Minority Leader, Senator Biodun Olujimi, \u201ca lot of illegal and unapproved spending are going on in the petroleum corporation.\u201d<\/span><\/span><\/span><\/div>\n
<\/div>\n
Saraki added, \u201cThere must be some serious issues to be looked into. The revelations by the NNPC\u2019s GMD have justified the need for this investigation and they have shown that we are acting in good faith.<\/span><\/span><\/span><\/div>\n
<\/div>\n
\u201cWhen in my ruling on the motion raised by Senator Olujimi, I insisted that we wanted a transparent, honest and non-partisan investigation on the fuel subsidy issue, it was clear to me and my colleagues that there are certain irregularities being perpetrated and we should let Nigerians know the truth. That is why we set up the committee in the first place. And to demonstrate the seriousness we attach to the issue, we decided that the ad hoc committee should be led by the Leader of the Senate, Senator Ahmad Lawan.<\/span><\/span><\/span><\/div>\n
<\/div>\n
\u201cWe are, however, shocked that the NNPC\u2019s GMD was claiming that the illegal diversion of dividends from the NLNG, which should be paid into the Consolidated Revenue Fund of the Federation for the purpose of funding the fuel subsidy, was done \u2018in compliance with the National Assembly directive that the NNPC as the supplier of last resort should, and has, maintained robust petrol supply.\u2019<\/span><\/span><\/span><\/div>\n
<\/div>\n
\u201cSo, if the National Assembly called on the NNPC to carry out its legitimate duty of ensuring adequate fuel supply to Nigerians, the GMD logically thinks the corporation, by that call, has the license to perpetrate illegality, spend money without approval and violate appropriation laws. It is my belief that if the National Assembly said the corporation should perform its duty effectively as a supplier of fuel to Nigerians without exposing people to needless suffering,\u00a0 that ought to be done within the ambit of the law.<\/span><\/span><\/span><\/div>\n
<\/div>\n
\u201cThis investigation will require the GMD to produce the approval given by the National Assembly and other necessary approving bodies authorising the NNPC to divert the dividend from the NLNG investment, which ought to be paid into the Consolidated Revenue Fund belonging to the three tiers of government, for the payment of fuel subsidy.\u201d<\/span><\/span><\/span><\/div>\n<\/p>
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The Nigerian Senate will Tuesday\u00a0\u00a0further probe claims by the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, on how and why the corporation allegedly diverted the dividends from the Nigerian Liquefied Natural Gas (NLNG) to maintain the N145-per-litre pump price of Premium Motor Spirit (petrol). According to the President of the …<\/p>\n","protected":false},"author":6,"featured_media":27983,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,1593,17],"tags":[896],"coauthors":[2391],"class_list":["post-27982","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-metro","category-news","tag-nlng"],"yoast_head":"\nNLNG Dividend: Nigerian Senate Probes Alleged NNPC\u2019s Diversion - National Wire<\/title>\n<meta name=\"description\" content=\"The Nigerian Senate will Tuesday\u00a0\u00a0further probe claims by the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Maika\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/nlng-dividend-nigerian-senate-probes-alleged-nnpcs-diversion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NLNG Dividend: Nigerian Senate Probes Alleged NNPC\u2019s Diversion - 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