A former Executive Secretary of the Nigeria Extractive Industries Transparency Initiative, Waziri Adio, has told the Nigerian National Petroleum Corporation Limited to stop playing with words over the return of the fuel subsidy regime.
The Founder and Executive Director of Agora Policy, a think-tank, said this following the position of the NNPCL on the cost of petrol.
The Eagle Online recalls that the NNPCL spoke in reaction to reports that President Bola Tinubu had approved that it should use part of its income to defray the cost of petrol so that it does not go to Nigerians.
In its reaction through its Chief Financial Officer, Umar Ajiya, NNPC said it was only bearing the “shortfall” from the cost of petrol to Nigerians and not subsidy.
Reacting to this, Adio, in a series of tweets on his X handle on Tuesday said: “NNPCL’s waffling on petrol subsidy is so disingenuous.
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“Oh, it is not subsidy, but a shortfall/PMS fx differential.
“Same difference.
:No subsidy was paid to any marketer.
“Has anyone said NNPCL paid subsidy to marketers and is it even within their remit to pay subsidy to marketers?
“Former PPPRA was charged with approving subsidy for marketers and NNPC.
“Ministry of Finance was paying marketers after verification of claims.
“Only difference with NNPC was that it deducted its subsidy and other claims from money for crude given to it for domestic use (DCA).
“It is not NNPCL’s responsibility, by practice or by law, to pay subsidy to marketers.
“That answer to a question not asked is at best a hollow attempt at deflection.
“Saying there is no subsidy because selling PMS below landing cost is a transaction between the company and the Federation (repaid or netted off) is a lame play with words that take everyone for a moron.
“NNPCL can use this free advice: when in a hole, stop digging.”
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