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Reps summons 17 subsidiaries of defunct NNPC

By Msugh Ityokura and Kingsley Jeremiah, Abuja
21 March 2022   |   2:41 am
The Public Accounts Committee (PAC) of the House of Representatives has summoned the 17 subsidiaries of the defunct Nigerian National Petroleum Corporation (NNPC), now NNPC Limited

NNPC GMD, Mele Kyari.

Fuel sells at exorbitant prices as scarcity worsens in Abuja

The Public Accounts Committee (PAC) of the House of Representatives has summoned the 17 subsidiaries of the defunct Nigerian National Petroleum Corporation (NNPC), now NNPC Limited, to respond to the audit queries by the Auditor General for the Federation over the operations of their finances between 2014 and 2019.

The invitation was signed by the chairman of the panel, Oluwole Oke (PDP: Osun), dating March 16, 2022, and addressed to NNPC Group Managing Director, Mele Kyari.

Titled “Consideration of the Auditor General of the Federation’s yearly Report on Federations Account 2014-2019 Financial Year and Non-Rendition of Audited Account by NNPC subsidiaries Covering The Period 2014-2019 To The Auditor General’s Office, the letter reads: “Pursuant to Sections 85, 88 and 89 of the 1999 Constitution (as amended) and Order XX Rule 6 of the House of Representatives Standing Order, I, again, request you to provide all the managing directors (MDs) of the following 17 NNPC subsidiaries with their accounting officers to appear before the committee and answer all issues raised against them in the above subject matter.”

The affected firms include the Nigerian Petroleum Development Company Limited; Kaduna Refining and Petrochemical Company Limited; Pipeline and Products Marketing Company Limited; Duke Oil Company Inc.; West Africa Gas Limited and Nidas Marine Limited, which are to appear on Wednesday, March 23.

Others are Hyson (Nigeria) Limited; Nigeria Gas Company; National Engineering and Technical Company; National Petroleum Exchange; NNPC Pensions Limited; Warri Refining and Petrochemical Company that would feature the next day, while the Port Harcourt Refining Company, NNPC Retail Limited, Integrated Data Service Limited, National Petroleum Investment & Management Services (NAPIMS) and Petroleum Product Pricing Regulator Agency PPPRA) are appearing on Friday, March 25.

The companies, according to the correspondence, are to provide copies of their audited accounts for 2015 to 2021 in compliance with Financial Regulation No, 3210(V), Evidence of Submission of Copies to Auditor General Office for the Federation.

They are also to present to the House, evidence justifying non-cooperation in respect of constitutional checks conducted based on Section 85 (4) of the Constitution.
HOWEVER, petrol scarcity has persisted in Abuja despite product availability assurances from the NNPC.

While the Nigerian Association of Road Transport Owners (NARTO) had assured of full haulage of petroleum products, yesterday upon implementation of a 25 per cent freight rate, most fuel stations in the Federal Capital Territory (FCT) were either under lock or experienced heavy queues.

As the situation subsists, some independent marketers in Abuja suburbs now dispense the product at N250 per litre.

Yesterday, Shema Filling Station at Ketampe on Kubwa Expressway was under lock. A.A Rano was dispensing with a crowd spanning one kilometre.

Total had no fuel, as ADFIN and A.Y Shafa sold to queues.