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Subsidy Claims Gulp N11trn In Six Years -Senate …Approves N129bn Payment To Oil Marketers Holds Valedictory Session, June 6
As Nigeria’s expenditure on fuel subsidy hits N11 trillion over the past 6years, the Senate yesterday expressed worry over the increasingly huge financial burden just as it cautioned that the huge subsidy payment if left unchecked, could kill the economy.
The senators, also berated the Federal Government for paying subsidy to oil marketers over the years without approval from the Senate and by extension, the National Assembly .
The caution came up a matter of urgent importance even at the as the National Assembly adjourned plenary till June 6 for its valedictory session, when it will officially end the four year life of the 8th session of the National Assembly.
This issue on the subsidy regime came up while the senate was considering the reports of its Committee on Petroleum Downstream during which the lawmakers took turn to lament the excessive subsidy payments which they questioned the validity.
The Chairman of the committee, Senator Kabiru Marafa (APC Zamfara Central), who presented the report to his colleagues reported that the nation over the last six years has spent over N11 trn to pay outstanding subsidy claims .
In another development, the red chamber also approved the payment of additional N129 billion subsidy claims to 67 petroleum marketers.
The Senate had earlier on Tuesday approved the payment of N68.9bn as subsidy claims to 20 petroleum marketers.
Marafa’s report reads, “That due to scarcity of Forex within the period, Oil Marketing Companies were allowed to source Forex outside CBN rate to enable them meet the country’s petroleum products demand.
“That NNPC Retail get their petroleum product allocation directly from PPPMC at already subsidized rate and so does not require forex to transact its business.”
Some of the oil marketers and the amount approved for them include: Total Nigeria PLC N13.7 billion, Northwest Petroleum N11.4 billion, Masters Energy N10 billion, MRS Oil PLC N8.8 billion and Sahara Energy N8.4 billion.
Others are: MRS Oil & Gas Limited N6.3 billion, Nipco PLC N4.2 billion, Forte Oil N3.9 billion, DEEJONES Petroleum & Gas N4.1 billion, Emadeb N4 billion among others.
Senator Barnabas Gemade in his contribution, asked why the Federal Government and the anti graft agencies had failed to convict any of the oil marketers who were indicted in the illegal subsidy claims.
He regretted that the government had not done enough in bringing the owners of the affected 50 oil firms to justice many years after their prosecution.
His words “What has happened to those who defrauded the nation? I believe that the 9th Senate will do justice to know what has happened to this money.”
Gemade also reminded the President Muhammadu Buhari-led government of its pledge subsidy payment when it came into in 2015.
“The government should stand by its words. If the government fails to end the subsidy regime, it will kill the Nigerian economy and all of will be accused to it.”He said
Senator Victor Umeh (APGA, Anambra) said, “If we continue to hope that one day this subsidy will end, we are deceiving ourselves. What would Nigerians face after this payment of arrears?”
“People in government have refused to face the problem. Everyone is depending on oil revenue and yet no functional refineries have been set in place
“The government should be able to plan to build five refineries, why can’t we use the money we get from sale of our crude to build refineries?
“The government should give us a programme to enable us have four functional refineries in five years.
“Exchange rates are not the problem, but our inability to do what others are doing is the main issue”.
In his ruling after the debate, the Deputy Senate President, Ike Ekweremadu, said “I hope that the next Assembly will be able to sit with the Executive to address this issue and resolve it without creating unnecessary tension.
“The NNPC needs to also caution itself so that they do not encroach on the appropriation responsibility of the National Assembly.
“We need to do something about provisions of refineries in our country – it is not rocket science. Even if it does not resolve the issue of subsidy, we would have gone a long way in addressing it”.
Meanwhile, the 8th Senate yesterday concluded its business session and adjourned till June 6 for valedictory, to mark the end of the session.
The Deputy President of the Senate, Ike Ekweremadu, who presided over plenary, made the announcement at the end of the day’s session.
In his remarks, Ekweremadu thanked the lawmakers for contributing immensely to the success of the 8th Senate.
He urged them to turn out massively on June 6 to officially bring the session to a close.
“I want to thank all of us who are here present for today’s plenary. Today marks the end of our business session.
“We will be meeting on June 6 for our valedictory session. I want to appeal to all our colleagues to be present,” he said.
The 8th senate, which was inaugurated on June 9, 2015 would be coming to an end after its valedictory session, to pave way for inauguration of the 9th National Assembly.
Nigeria operates a bicameral government, with the senate as the upper chamber.
It is made up 109 lawmakers, with equal representation of three lawmakers from each of the 36 states.
Since the return of democracy in 1999, each session of the national assembly, which the senate is part of, has a tenure of four years, after which elections are conducted and a new session commences.
Meanwhile, the President of the Senate is the Presiding Officer of the Senate, the Chairman of the National Assembly and third in the Nigerian presidential line of succession.
His key mandate is to guide and regulate proceedings in the senate.
He is assisted by the Deputy President of the Senate in collaboration with principal officers, which include the Majority Leader.
Rivers State Governor, Sir Siminalayi Fubara, has said that peace has prevailed because he draws strength from God to resist insults and tantrums thrown at him while frustrating attempts by some disgruntled persons who wanted to plunge the State into unending crisis.
The Governor also said that because he has anchored his Government on promoting peace, the enabling atmosphere has been provided for investments and sustainable development to flourish.
Governor Fubara made the assertion when he received a delegation of members of the Bishops and Gospel Ministers’ Association International Incorporated, Rivers State Chapter, at Government House in Port Harcourt, yesterday.
Represented by the Head of Rivers State Civil Service, Dr George Nwaeke, Governor Fubara said while most people took his meekness for weakness, his stance on peace has unarguably enhanced harmonious atmosphere of concord as residents sleep with their two eyes closed, and investors and shareholders are happy with the returns on investment.
He said, “Before, what they hear of Rivers State is that they are fighting, and some genuine investors will not come. Some people even ask you: How are you coping in Rivers State?
“But now”, he asserted: “The Governor has brought about a lot of changes in the State. One of the most important things is that he has changed the negative narrative. It is no longer Rivers of blood. It is now Rivers of peace.
“We are enjoying our lives here. Why? Because there is a change in the narrative. We have peace. The Governor is, as much as possible, absorbing any level of insult at him only for one purpose: that Rivers State may have peace; that we may grow; that this state will experience genuine development.”
Governor Fubara urged them, as members of the Christian family in the State, to continue to pray for the State and the Government so that the enemies of the State will be put to greater shame.
“This peace is what I want you to embrace. Go and continue to pray, because when the sower of the seed went and sowed, the enemy went in the night and sowed tares inside there. But the Governor is sowing peace.
“When I listened to the leader of the team, His Grace Eddy Ogbonda, he said you came all the way from Eleme Junction, and stopped at major junctions, and you uttered prayers for the peace of Rivers State.”
He also said: “I, hereby want to thank you for identifying with the Governor at a time like this. At a time when it looks as if someone wants the Governor’s peace posture misunderstood as weakness.
“When someone has the strength to fight back, but refuses to fight back. That is a bigger strength; that power of restrain does not just come, it can only come from God.
“You cannot give peace, if you do not have peace within you. The Governor is not interested in any form of trouble or violence. What he is interested in is known, and it is: let there be peace in Rivers State,” he said.
In his address, leader of the group, Archbishop Eddy Ogbonda, said they had observed a week-long intensive prayers that culminated into a peace rally, which brought them to Government House, and assured the Governor that God will continue to give him victory over his adversaries while preserving Rivers State.
“It is Rivers State Prophetic Prayer Convocation and Rally 2024 with the theme: ‘Peace be still’. Of a truth, everyone of us understands that we live in a time when we need peace much more than any other thing.
“Rivers State needs peace. Everyone as individuals need peace. The country needs peace, and the world at large needs peace. So, we are here to do a peace march. We pray that God will command His peace to reign in Rivers State,” he said.
The Economic and Financial Crimes Commission (EFCC) has stated that hotels, schools, and other establishments that accept payments in dollars from their customers are at risk of facing arrest.
The Chairman of EFCC, Ola Olukoyede, said this in the agency’s publication called EFCC Alert on Monday, adding that action would be taken against individuals involved in the dollarisation of the economy.
According to him, the exception is if foreigners come in to transact business and the only means of transacting is their credit card and dollar but to charge local customers in dollars or other foreign currencies would no longer be allowed.
He said charging local activities and customers in dollars is against Nigeria’s constitution.
The EFCC chairman said, “Schools that charge Nigerians in dollar, supermarkets that trade in dollar, estate developers that sell their property in dollar, hotels that are invoicing in dollar, we are coming after you and we have made arrests in that area.
“Yes, if foreigners are coming in and the only means of transacting is their credit card, and dollar, why not? You will get that.
“But document it properly as against selling things within the system, local economy and you will be using dollar as the medium of exchange, it is illegal.
“Our law does not allow for that. And we have also affected some arrests.”
Rivers State Governor, Sir Siminalayi Fubara, has enjoined Muslim faithful to remain steadfast to the lessons learnt during the holy month of Ramadan.
Governor Fubara stated this in his message of felicitations to Muslims as they celebrate the 2024 Eid-el-Fitr Sallah, which marks the end of the one-month Ramadan fasting.
The Governor emphasised the importance for Muslims to also uphold the tenets of Islam by exhibiting the fear of God and showing piety in their daily work.
Governor Fubara said, “We must all continue in the good attributes imbibed during the holy month of Ramadan as directed by God through His Prophet, so as to ensure peace, unity and harmony in the society for a better future.”
While praying that the essence of the festival offers them happiness, peace and prosperity in all aspects of life, Governor Fubara said he recognises and appreciates the critical role that the Muslim community continues to play in the development of Rivers State, and indeed, Nigeria at large.
Governor Fubara charged them to remain unwavering and steadfast in their commitment and positive contributions to advance the development of the State and the country.
“I enjoin you all in the State to remain calm, be patient and continue to do what is right,” the Governor added.
He wished the Muslim faithful in the State and across the country a happy Eid-el-Fitr celebration.
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