The Senate has begun investigation into the alleged continuous operation of fuel subsidy by the Nigerian National Petroleum Corporation.
Although the NNPC had claimed that there is no more subsidy payment on fuel imported into Nigeria, the Senate says its findings show otherwise.
The Chairman, Senate Committee on Petroleum (Downstream), Senator Kabiru Marafa, who made this known on the Senate floor on Thursday, insisted NNPC is still operating the fuel subsidy regime through the back door.
He said contrary to claims made by the Federal Government that the fuel subsidy regime had been abolished, the NNPC was still making secret payments.
Marafa claimed that the situation has crippled the downstream sector of the petroleum industry, where NNPC has become the sole importer of products.
The lawmaker revealed that his committee was currently investigating the illegal payment of subsidy by the management of NNPC.
Marafa said: “Even the price of N145 is not realistic.
“The NNPC is still operating the subsidy regime.
“NNPC is now the only body importing petroleum products into the country.
“You cannot import petroleum products into the country right now with the current trend.
“We are investigating this subsidy payment by the NNPC.”